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A simple guide to the effective business plan
- 1. Wri$ng an Effec$ve Business Plan Amelia Lobo, MBA
- 2. ISED Ventures ISED Ventures envisions vibrant Iowa communi$es where individuals and families have the opportunity to build financial stability and success.
- 3. • Financial Educa$on & Counseling • Felicia Chumley, Advisor • Small Business Educa$on & Support • Women’s Business Center • Amelia Lobo, Director • Fernando Aveiga, Business Advisor • www.isedventures.org • Facebook: facebook.com/isedwomensbusinesscenter
- 4. Services • Personal financial management • • Pillars of Financial Success Individual help on budge$ng, dealing with debt, and improving your credit report • Free tax prepara$on • • • • Must make less than $57,000/year No business loss Personal taxes plus Schedule C (Sole Proprietor/LLC) Review of prior years/late filing • Small Business • • Educa$on: Business Planning/Special classes One-‐on-‐one counseling
- 6. The Execu$ve Summary • 2 Pages, tops • The value proposi$on • What you do • How you make money • Why customers will pay • Wrien to share with investors? • Include the $$ ask • Write the summary last
- 7. Market Opportunity Compe$$on Business Model Your Team
- 8. Market Opportunity • Target Market=Who are you going to sell to? • Who are they? • Loca$on/income/Taste/ Age/Sources of influence • How many are they? • Sources: industry associa$ons, census data, other business owners
- 9. • Who are they? • What do they sell? • How much market share do they have? • Why will customers choose your product or service instead of theirs? • What are the barriers to entry? • Indirect compe$tors Compe$$on
- 10. • Func$onal Areas-‐ who is responsible for • • • • • General Management Financial Management Marke$ng Sales Human Resources • Member experience • Outside advisors Your Team
- 11. • Detailed descrip$on of all revenue streams • • • • Product sales Adver$sing Licensing Cost structure • Business Model Salaries, rent, inventory, maintenance • Also, include names of key suppliers or distribu$on partners • List & jus$fy assump$ons and provide a jus$fica$on for them
- 12. Financial Projec$ons Cash Flow Income & Expense Balance Sheet
- 13. The Exit Strategy • How are investors going to recoup investment? • Business Sale? • Going Public? • Your business has value but you have to prepare to transi$on out • Sale to employees? • Others?
- 14. Upcoming Educa$onal Opportuni$es • BusinessLaunch! • 10 Week Business Planning Class • Starts Feb. 25th • 5:30-‐8:30PM (Tuesdays) • $300/scholarships available • BusinessPrep! • Ongoing-‐ required for Business Launch! • Self-‐Evalua$on • $10 • Understanding the Healthcare law and the SHOP marketplace for small business • March 5th and 8th • Free • Other classes listed on our website
- 15. Contact us ISED Women’s Business Center www.isedventures.org 515-‐283-‐0940 alobo@isedventures.org faveiga@isedventures.org Facebook: www.facebook.com/isedwomensbusinesscenter Join our newsleer for informa$on on business opportuni$es, upcoming classes and other resources.