...Discussion Forum: Fibercom Applications Inc. T How to Write Great Business Plan:” i) people, ii) the specific opportunity, iii) the context, and iv) the deal (the modified part). In my opinion the business plan flaws in key elements to catch interest of the investors. Opportunity Some of the questions that investors need to solve have not a clear answer in the business plan. The business plan itself need to demonstrate that this is an attractive industry and they can make money with the opportunity and how. The business plan has a lot of technical information that is not adding to demonstrate how the money is produced. The business model itself is not clear, the sales unit, the production unit and the unit margin. It makes the investor doubt about if the team really knows the business and how the business is going to succeed. Key points as when to buy the resources and when to pay to the suppliers are not addressed clearly. Context I was surprised of not finding in the business plan the dependency with technical standards. This is a technical product and the standards need to be stable and well known. On the other hand, the business plan lacks of clear evidence of the context and how the market is change or what are the factors that make change the market. * Overall, is this a "great business plan?" Would you invest? Why or why not? I have not seen the video at this time, but with the information of the business plan and my poor knowledge about this industry...
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...Business Operation: An operational plan is an essential component to a business plan because it tells the reviewer how you plan to get your product/service out to market. All businesses need plans of operation with definitive time lines to accomplish goals and deadlines for reaching those goals. It should involve tracking the progress of sales, the development of employees and profits. It must be flexible. You create a business operational plan by defining several major goals that should be met within the next three years. Write a list of short-term goals needed to support each long-term goal, and then break the plan of action for each large goal into daily, weekly and monthly tasks. Assign these tasks to specific employees and document all the obstacles impeding the process of reaching long-term business goals. Designate time frames for every short-term and long-term goal. Notice what is working and what is not working. Then write an accountability system into the operational plan. Finally Review all business activities and profits you expect for every quarter. Describing your Business In order to prevent your executive summary from being too long, and to give readers more detail on what your business actually does, you'll want to include a business description section in your business plan. You probably spend most of your waking hours (and some of your sleeping hours) thinking about your business. You understand what you do, how you do it and why you do it better than...
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...Creating a Business Plan By Kannitha, BBU student, Aug 2013 Table of Contents Table of Contents 2 Executive Summary 3 1. Introduction 4 2. Findings 4 2.1 Business plan definition 4 2.2 The important of business plan 5 2.3 Business plan writing technique 7 2.4 Major aspects of the business plan 7 2.4.1 Introduction Page 8 2.2.2 Executive Summary 8 2.4.3 Business Description 9 2.4.4 Products and Services 10 2.4.5 Marketing Plan 11 2.4.6 Competition 13 2.4.7 The Management Plan 13 2.4.8 The Financial Management Plan 14 2.4.9 Risk Assessment 15 2.5 Readers of the business plan 15 2.6 Failure of business plan: 15 3. Lesson learnt 16 4. Conclusion 17 5. Recommendations 18 6. References 18 Executive Summary Business plan is considered as an important and it actually serves as a compass for the direction of business for the future. Having a plan will also help business people to achieve the things they want to achieve. A business plan is not just a document, but it is a holistic analysis of a company, the environment it operates in, and a road map to achieving success. Business planning is an essential element of running any successful business. Business plan formulation would need to consider on many aspects and ensure that business would be success. Those include introduction, executive summary, description of business, management and organization plan, marketing and financial...
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...reading this, it informs you how a company would implement their business plan and actually is a perfect setup to give to one’s investors or banks when first seeking out a loan. The way the plan states that their aluminum frame, their built-in storage drawers, and their glide ease stretcher systems are all superior to their competitors while being more cost effect shows their investors that Stretch and Wing Inc.’s has a leg up on their competition by comparing similar products. The companies also going to only hire a sales team which are people who are experts in the aviation field with sales experience. This is a great example of how Stretch ‘r Wing Inc.’s business plan is very informative in their sales strategy that is being discussed in their business plan. The company’s Sale’s forecast’s section explains what their expected company sales are. Their graph is very informative by showing what the expected profit margin is going to be and how it’s going to grow, which are very helpful tool for investors and banks to use when contemplating this company. The last section I am going to discuss is going is the company’s Milestone section. This section shows that Stretch ‘r Wings Inc. really put some thought into their sales strategy also. The company actually state what they want their company to accomplish in a set amount of time. Their chart is very well organized and is a great visual aid to again, help investors and bankers envision their plan for the company. Discuss...
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...Your Marketing Plan Guidebook Your marketing plan guidebook is designed to help you in developing a mission and vision statement, setting marketing objectives, examining the external environment, performing a situation analysis, selecting and describing a target market, developing marketing strategies and tactical plans and selecting methods to control a marketing plan. 1 YOUR MARKETING PLAN TITLE PAGE Here's your sample Title Page [It's a great idea to put a color picture of your business or product right on the front. But leave room for the following information.] [Your Name] [The month and year the marketing plan is completed] 2 YOUR MARKETING PLAN TABLE OF CONTENTS Here's a sample Table of Contents. Be sure to include the page numbers when you have finished your Marketing Plan. Section: Page Number: I. Mission and Vision Statements II. Company Description III. Marketing Objectives IV. Analysis of the External (Uncontrollable) Environment V. Situation Analysis • Strengths • Weaknesses • Opportunities • Threats VI. Description of the Target Market(s) VII...
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...work situation. 1) You have asked a new project member to write a proposal to buy new equipment for the project. The member needs to learn more about this equipment to make a sound decision about options and costs. The member feels this assignment will stretch his already-full schedule. You would... A Tell the member when you want the proposal and explain what you want in the proposal. Outline the steps the member should take to become knowledgeable about the new equipment. Set daily meetings with the member to track progress. B Ask the member to produce the proposal and discuss its importance. Ask the member to set a deadline for completion. Give the member the resources he needs. Ask the member to provide periodic progress reports. C Tell the member when you want the proposal and discuss its importance. Explain what you want in the report. Outline steps the member should take to learn more about the equipment. Listen to the member’s concerns and use his ideas when possible. Set weekly meetings to track his progress. D Ask the member to produce the proposal and discuss its importance. Explore the barriers he foresees and strategies for removing them. Ask him to set a deadline for completion and periodically check with him to track progress. 2) Your project team has been working hard to complete its project plan. A new member has joined the team. He must present cost figures in a report format at the end of next week but he knows nothing about the report requirements and format...
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...Prepare a business plan It is essential to have a realistic, working business plan when you're starting up a business. A business plan is a written document that describes a business, its objectives, its strategies, the market it is in and its financial forecasts. It has many functions, from securing external funding to measuring success within your business. * The audience for your business plan Many people think of a business plan as a document used to secure external funding. This is important because potential investors, including banks, may invest in your idea, work with you or lend you money as a result of the strength of your plan. There are many other benefits to creating and managing a realistic business plan - even if you just use it in-house. It can: * help you spot potential pitfalls before they happen * structure the financial side of your business efficiently * focus your development efforts * work as a measure of your success The following people or institutions may request to see your business plan at some stage: * banks * external investors - whether this is a friend, a venture capitalist firm or a business angel * grant providers * anyone interested in buying your business * potential partners You should also bear in mind that a business plan is a living document that will need updating and changing as your business grows. Regardless of whether you intend to use your plan internally, or as a document for external people...
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...Business Plan Background Jane and John had a good idea, a good sense of their market, and a good location. They were great salespeople, and yet they were not making a profit. The reason was that they did not plan their business all the way through. When you are serious about your business or when a lot of money of your own or someone else's is at stake, creating a business plan is perhaps the most critical activity you can undertake. The plan is important, but what is even more important is the understanding you get from the planning process. The following pages will help you understand the thinking behind business plans and how to make and present your own. A business plan is a document designed to detail the major characteristics of a firm--its product or service, its industry, its market, its manner of operating (production, marketing, management), and its financial outcomes with an emphasis on the firm's present and future. There are two circumstances under which creating a business plan is absolutely necessary. One is when outsiders expect it. This is called external legitimacy. Creating a business plan is the acknowledged best way to build external legitimacy for your firm. When you are seeking outside support--whether financial or expert--you do a business plan to signal your professionalism and how serious you are about the business. Investors, whether they are venture capitalists, informal investors (called angels), bankers, or your two great aunts, are going to expect...
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...Business Plan Definition A business plan is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals. Guidelines A business plan should conform to a generally accepted guideline regarding its form and contents. Each section should include specific elements and address relevant questions that the people reading this plan will most likely ask. Generally, a business plan has the following components: A. Title page and contents B. Executive summary C. Business description D. Business environment analysis E. SWOT analysis F. Description of the product or service G. Market analysis H. Marketing plan I. Competitive analysis J. Operations and management K. Financial components L. Supporting documents – attachments and milestones Typical addressed questions by the business plan: * What problem does the company's product or service solve? What niche will it fill? * What is the company's solution to the problem? * Who are the company's customers, and how will the company market and sell its products to them? * What is the size of the market for this solution? * What is the business model for the business (how will it make money)? * Who are the competitors and how will the company maintain a competitive advantage? * How does...
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...Douglas Abrams – Business plan outline Page 1 Business plan outline Cover page and table of contents Company name Product name Confidentiality statement Disclaimer Do not include a non-disclosure agreement (NDA) as most investors will not sign an NDA at this stage. Executive summary Summarize all key points in your business plan. This may be all the investor will ever read. It should be 1-3 pages long. Your executive summary should include: Value proposition and innovation Market identification and analysis Marketing and sales strategy Sustainable competitive advantage Company products and services Team Operational plan Expansion plan Financials Value proposition and innovation Value proposition - What problem are you solving for customers? Quantify benefit if possible Innovation - What is new about your product? Market identification and analysis Establish that there is a fast growing market for your product. Show that you understand your competition. Include in this section: Market and industry Define the market or industry. How large is it and how fast is it growing? - Total market size in dollar volume / Market growth rate. What trends are important in the industry or marketplace? How is market and industry segmented (e.g. product/ buyer/ channel/ geographic)? Targeting segment Define and describe the target segment. Calculate total market size / total addressable market/ target segment/ market share Competition Direct competitors ...
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...Question 6, Chapter 2, Page 75 “Marketing Plan and Business Plan” Business plan and marketing plan are a very vital part and should not be forgotten in running a business, because these two things are the basis of operating a business effectively and efficiently. These plans are not only help businesses organize their operations, but help determine about their success or failure. Moreover, these things are needed to avoid something that harm to company’s existence and probably it can reduce the risks that might occur in a company in the future. Hence, having a clear business plan and marketing plan it can give a clear illustrations about the targets and goals that are determined by the company at the beginning. Generally, a large company has a very high standards in operating their business and very carefully in determining some plans for their business in the future both business plan and marketing plan, because they do not want to be careless in the determination of business plan and marketing plan in their company that will make a huge effect in their company. There are some differences in business plan and marketing plan that classify each other, the fundamentally difference from a business plan and marketing plan is the goal and specification of what is want to be achieved by a company. Hence, it will have some step by step stages to achieve the goals that have been specified at the beginning. Business plan is a concept how we can interact with the investors and bankers...
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...Analyze a business plan I review a business plan ‘quality Training’ and also compare to the business plan given in a text book, As I can seen most of the important topics are missing. According to the text book there is a topic call operations and it has sub topics as well where I can see in this business plan. Also financial plans are not given in this business plan. This business plan outlines strategy for the next couple of years. It may be used to help support an application for business finance or business grants, or it could be just for own use as a roadmap for the growth of business. It explains objectives and the actions required to get small business from where it is now, to where it want to be. This business plans focus, crystallize ideas and identify priorities, saving both time and effort. This business plan will gives some clear sense of direction and a benchmark enabling to measure progress. Be realistic According to this business plan analysis of competitors are clearly explain and the risk and opportunities. However unrealistic sales forecasts could lead to increased overheads followed by a damaging cash flow crisis and drastic cost cutting. It could also damage credibility, because lenders and other interested parties will quickly see through optimistic plans that ignore weaknesses or threats. Be professional Even the plan is intended for internal use only, write and present it as if it’s aimed at an outsider. Put a cover on the plan and include a...
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...How to Write a Great Business Plan by William A. Sahlman Harvard Business Review Reprint 97409 Which information belongs – and which doesn’t – may surprise you. How to Write a Great by William A. Sahlman Few areas of business attract as much attention as new ventures, and few aspects of new-venture creation attract as much attention as the business plan. Countless books and articles in the popular press dissect the topic. A growing number of annual business-plan contests are springing up across the United States and, increasingly, in other countries. Both graduate and undergraduate schools devote entire courses to the subject. Indeed, judging by all the hoopla surrounding business plans, you would think that the only things standing between a would-be entrepreneur and spectacular success are glossy five-color charts, a bundle of meticulouslooking spreadsheets, and a decade of month-bymonth financial projections. William A. Sahlman is Dimitri V. d’Arbeloff Professor of Business Administration at the Harvard Business School in Boston, Massachusetts. He has been closely connected with more than 50 entrepreneurial ventures as an adviser, investor, or director. He teaches a secondyear course at the Harvard Business School called “Entrepreneurial Finance,” for which he has developed more than 100 cases and notes. Nothing could be further from the truth. In my experience with hundreds of entrepreneurial startups, business plans rank no higher than 2–on a scale from...
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...‘How to Develop a Business Plan’ Introduction Most successful organisations have a clear vision or sense of purpose. They also have well defined objectives to aim for and a way of measuring their performance. These are the vital ingredients of a Business Plan. Some of the benefits of business planning are that it: • Forces people in the organisation to stand back, and review business performance and the factors that are affecting the business • Encourages people to consider strategic options and make informed decisions • Improves communication and builds commitment by involving people throughout the organisation • Can be captured in a single document and communicated to everyone involved. Definitions Business Planning is a process that identifies where the organisation wants to be and by when, and shows how it will get there from where it is now. A Business Plan is a document that captures the outputs from the business planning process. Key steps in business planning The key steps in creating a Business Plan are: 1. Setting a vision for where you want to be 2. Gathering and analysing information about where you are now 3. Setting performance objectives and making plans to close the gap 4. Planning how to monitor progress. Learning Resources Tel: 08456 047 047 Web: www.traintogain.gov.uk Email: traintogain@businesslinksw.co.uk 1. Setting a vision for where you want the organisation to be The core of your Business Plan is your vision for the future. Steve...
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...medical facility. Material managers will also have to manage the supply chain in any type of situation and prove successful. Materials and Operations Manager Duties The material managers play an important part within the health care facility. The material managers will handle over half of the health care facility bottom line. The material managers are responsible for areas throughout the hospital. The important role that a materials manager must be able to handle is control and direct the flow of the supplies from the distributors; receiving; waste; inventory, and when supplies come to medical facility. The operation managers also has an important part within the health care facility. With the operation manager he or she needs to make sure that the goals and the day-to-day operations are running smoothly. The major duty that the operation manager has to maintain daily is staffing; quality; quantity; layout of facility; management, and communication. The operation manager duties responsibilities is reducing waste; cost of supplies; productivity; patient care; equipment; technology, and making sure everyone is trained to do his or her job. Also the operation manager needs to be able to read and understand the system...
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