Lake Tahoe - Northshore SBDC Business Workshops Series

Lake Tahoe - NorthShore SBDC Business Workshops Series -

Part 1 - Business Plan Guidelines - Summary Notes

Presented by the SBDC of Northeastern California, Greater Sacramento / Sierra

1) Business Plan Guidelines - The goal of this workshop series is to provide you with some keys to unlock and/or eliminate the obstacles associated with developing and writing a successful business plan.

2) A Business Plan is primarily needed for YOU, the owner, to guide daily and future successful business operations. Any other uses, while important like seeking financing or requirements for larger vendors, are secondary. This is the blueprint, the backbone of what you and your business are all about: where you are heading, how you will get there, and what will happen when you arrive.

3)Business Plans should be simple, neat, accurate, and professional in appearance. Use business-style fonts, and type size, white paper, and simple covering or binding if going to be viewed by someone else.

4) Though there are many different styles, every business plan covers in some way

the key information about your enterprise:

Cover, Cover Page, and Table of Contents
Executive Summary (written last)
A Request for Funding if appropriate
Description of the Company(including the legal structure)and the Industry
Products/Services offered
Market Analysis (of your competitive area), and Marketing Strategy
Management description, listing and explanation
Financial Plan & Strategy (a VERY important portion)
Appendix (with supporting documentation as desired)

5) A “Vision” is what you want your company “to BE” (Ex: The Walt Disney Corporation: To be the company that makes people happy). A “Mission” is what you want your company “to DO” (Ex: The Walt Disney Corporation: Using our portfolio of brands to differentiate our content, services and consumer products, we seek to develop the most creative, innovative and profitable entertainment experiences and related products in the world).

6) The “financials” of the business (Profit Loss Statement, Balance Sheet, Cash Flow Analysis), are critical for success. When “costs” (fixed recurring costs, variable costs) equal “sales revenues”, that is the Break-Even point: after that, profit is made.

7) Marketing Strategy and Sales Process should include competitive analysis, and have a distinct targeted direction (don’t be a “round battleship” - know what you offer, to whom, why, and at what price). Customers by BENEFITS, not FEATURES.

8) Though difficult in this economy, it is still possible to get financing via a financial institution. What’s needed are the business plan, and attention to the “5-C’s of Credit”:Credit rating, Collateral, Capital (your investment in the business), Capacity (of the business to generate revenue), and (your) Character.

9) Check to review one of 500 free, actual business plans as an example.