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Pulling the Plan TogetherCreate A Finished Business PlanCreate A Finished Business Plan
15-1Copyright © 2011 Nelson Education Ltd.
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Prepared byRon KnowlesAlgonquin College
& Jennifer Rouse BarbeauCanadore College
Chapter OverviewChapter 15 will:
Guide you in the final assembly of your business plan building blocks.
Assist you in writing your plan for maximum clarity and impact.
Assist you in compiling and presenting the executive summary, table of contents, and appendices.
Help you present the completed plan.
15-2Copyright © 2011 Nelson Education Ltd.
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Learning OpportunitiesGather all the information you have together
into one coherent unit, which becomes a working showcase for your business.
Study a sample business plan to see how one group of entrepreneurs defined and presented their business.
Match or surpass the sample business plan in value-added information, research, and effectiveness.
Complete a PERT chart to organize the work ahead.
Put your finished business plan to work with passion.
15-3Copyright © 2011 Nelson Education Ltd.
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Getting Started
Before you begin writing your business plan:Before you begin writing your business plan:Think about the need of your target audience. Think about your elevator pitch. Get your mentor and advisory team on board.Consider how your plan will showcase your
passion and confidence. Gather all the competed Action Steps.Consider starting with the material you feel
most comfortable with.
15-4Copyright © 2011 Nelson Education Ltd.
Writing Your Business Plan:1: Use Words1: Use WordsUse words to introduceyour strategies for:
MarketingProductionManagement
15-5
Hook your readers with clear & exciting descriptionsabout: Creating a businessAssessing the competitionDesigning a marketing planTargeting customersFinding the right locationBuilding a team
Copyright © 2011 Nelson Education Ltd.
Your target readers are: Bankers Credit managers Venture capitalists Vendors Small business and
commercial credit lenders
15-6
Include financials such as:
Income statements Cash-flow projections Projected balance sheets Ratio analyses
Copyright © 2011 Nelson Education Ltd.
Writing Your Business Plan:2: Use Numbers & Facts2: Use Numbers & Facts
Resumes Maps Diagrams
Photographs Tables Reprints from
industry journals
Letters from customers and
vendors Credit reports
Personal financial
statements
15-7Copyright © 2011 Nelson Education Ltd.
Writing Your Business Plan:3: 3: Include Support InformationInclude Support Information
Some General GuidelinesOutside AssistanceOutside Assistance
Write the plan yourselfHave the plan reviewed
RemindersRemindersA business plan does not guarantee successThe plan should be easy to readNo grammatical errorsMake the plan easy for your reader to write
notes Include how the reader can reach you
15-8Copyright © 2011 Nelson Education Ltd.
The Cover LetterSummarize your planin a way that will achieve the most good.
Introduce the excitement of your plan. Tell why you are sending the plan. Your letter needs to give a good impression.
Remember that:1. The reader will judge your plan based on this letter.2. A good cover letter will make its reader want to become
involved in your venture.
15-9Copyright © 2011 Nelson Education Ltd.
Sample Table of Contents (Box 15.3) Page(s) Table Of Contents i Executive Summary 1 I. Description Of The Business 1-12
The Service We Provide The Market And Our Target Customer The Competition Marketing Strategy Our Location Management Human Resources
3 4 6 8 10 11 12
II. Financial Section A. Projected Cash Flow B. Projected Income Statement C. Projected Balance Sheet D. Other Financial Information
16-21 16 18 19 21
Appendixes
15-10Copyright © 2011 Nelson Education Ltd.
Executive SummaryTheThe executive summaryexecutive summary Serves as an introduction to the business plan.
Acquaints the reader with the subject of the material that follows.
Provides “hard” numerical data and facts (which lenders prefer).
Normally appears right after the table of contents.
Is written afterafter the plan is completed.
15-11Copyright © 2011 Nelson Education Ltd.
Section I: Description of the BusinessDescription of the BusinessPart A: Business Description An example is provided in Box 15.5. To get started, complete Action Step 65.
Part B: The Market and the Target Customer An example is provided in Box 15.6. To get started, complete Action Step 66.
Part C: The Competition An example is provided in Box 15.7. To get started, complete Action Step 67.
Part D: Marketing Strategy An example is provided in Box 15.8. To get started, complete Action Step 68.
15-12Copyright © 2011 Nelson Education Ltd.
Part E: Location An example is provided in Box 15.9. To get started, complete Action Step 69.
Part F: Management An example is provided in Box 15.10. To get started, complete Action Step 70.
Part G: Human Resources An example is provided in Box 15.11. To get started, complete Action Step 71.
15-13Copyright © 2011 Nelson Education Ltd.
Section I: Description of the BusinessDescription of the Business
Section II: Financial Section Financial Section
Now you’re ready to organize yournumbers into 4 standard areas:
1. Opening and projected balance sheets2. Cash flow projection3. Projected income statement4. Supporting financial information and analysis
15-14Copyright © 2011 Nelson Education Ltd.
What is a PERT Chart?
15-15Copyright © 2011 Nelson Education Ltd.
Pert stands for:Program Evaluation & Review Technique.
A PERT Chart serves as a script. It will also tell you & your team members how long certain jobs should take.
Sample PERT Chart
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Week Task 1 2 3 4 5 6 Befriend a banker. x x x x x x Order letterhead. x Select site. x Get business name. x Register company. x Select ad agency. x Have lunch with lawyer. x Make appointment with accountant. x Prepare vendor statement. x Make utilities deposit. x Review promotional material. x Survey phone system. x x x Order phone system. x Hold open house. x
Copyright © 2011 Nelson Education Ltd.
Chapter 15 shows you how to create a finished business plan:
Business Plan: a portable showcase for your small business
15-17Copyright © 2011 Nelson Education Ltd.
Business Plan Business Plan Building Block
How will your business idea contribute to society in general?
In what way does your product or service differ from that of your competitors?
What are the critical success factors for your business?
How would your customers define your quality and level of customer service?
15-18Copyright © 2011 Nelson Education Ltd.
Checklist for Your Business PlanYour Business Plan
In completing your business plan, ask yourself: Have I been consistent in my thinking that the quality of sales staff fits the image I wish to convey? Has money been set aside for appropriate training?
What social responsibility practices do you intend to follow?
If your business is successful, what is your long-term growth plan?
Will you achieve your personal vision?
15-19Copyright © 2011 Nelson Education Ltd.
Checklist for Your Business PlanYour Business Plan
Good Luck!Work Smart & Enjoy the AdventureWork Smart & Enjoy the Adventure
15-20Copyright © 2011 Nelson Education Ltd.