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Business planning pflug_2012
- 1. Business Planning & Presenting: How to Communicate, Connect, and Convince Others Texas State SBDC 2011
- 2. Today’s Objective Investor Partner Lender Traits & Messages & Characteristics Impressions You, Your Plan, Your Business, Your Website Business Plan One-on-One Presentation Texas State SBDC 2011
- 3. Before we Begin 50% of the clients don’t come back after our first meeting D.I.Y. Texas State SBDC 2011
- 4. First Question … Do You Need it in Writing? • Do you have a clear vision? • Do you have years of experience, network, and reputation in your industry? • Can you clearly describe your customer profile, market niche, marketing approach, sales strategy? • Do you have the capital, credit score, partners and resources? Texas State SBDC 2011
- 5. Now Let’s Begin !!! 1) Traits, Characteristics, Messages, Impressions. 2) You Must Do It Yourself (Work, Selling, Money) 3) May or May Not Need it in Writing • I Don’t Know You ? • How Can I Help ? • I Don’t Know This Business? • What are the Next Steps ? • Why Should I Even Care ? • Where Do I Send the Check ? Texas State SBDC 2011
- 6. Stop And Turn Your Head Around !!! Texas State SBDC 2011
- 7. Turn Your Head Around !!! If I Build It, They Will Come !!! Texas State SBDC 2011
- 8. Now Stop, Turn Your Head Around !!! If I Build It, They Will Come !!! Texas State SBDC 2011
- 9. Now Stop, Turn Your Head Around !!! If I Build It, They Will Come !!! I am going to solve a problem! I am going to meet the needs of defined customers in a defined market niche !!! Texas State SBDC 2011
- 10. The Paradox It’s All About You It’s Not About You Texas State SBDC 2011
- 11. The Paradox The Same Rule Applies to … Investors, Lenders, Partners, Customers Texas State SBDC 2011
- 12. What Characterizes a Good Business? 3-Legged Fit MARKET FIT FINANCIAL FIT PERSONAL FIT Texas State SBDC 2011
- 13. What Characterizes a Good Business Plan / Presentation? • Targeted, direct, purposeful. Specific/Focused • Supported by verifiable research and insightful analysis. Bottom-up, First. • Recognizes risks, threats, and the competitive environment. Realistic. • Embodies real-world opportunities and planned contingencies. Thoughtful & Agile. • Reflects you & your Business. Unique. • Clear, Concise, and Compelling. Respect. Texas State SBDC 2011
- 14. Dispel with the Myths & Misconceptions - Don’t Say Anything that could be disproven !!! • If I build it, they will come. • Just because I believe, or see, or commit – Doesn’t mean anyone else will. • Raising money is the end in itself; it validates you. • Someone is going to steal my idea… – Beware of confidentiality agreements – The patent will protect me • No platitudes, Please! • It’s flawless, can’t fail • There is no competition • I must maintain control • Best customer service Texas State SBDC 2011
- 15. Ten Traits to Convey in Ten Minutes (by David Rose, Venture Capitalist) Experience Leadership Knowledge Commitment Skills Vision Passion Integrity Realism Traction Humility/Coachability Texas State SBDC 2011
- 16. Additional Suggestions • Know Your Plan (Walk the Talk) • Get Help & Solicit Genuine Feedback • Make Sure it all Connects, Be Consistent • No Canned Software D.I.Y. • Communicate @ 8th-Grade Level • Professionalism Counts • People Connect to People Texas State SBDC 2011
- 17. Passions & Pennies • Be Passionate, Don’t “Follow Your Passions” • In the End, It’s all about the Money • Make Sure Your Goals are Aligned Texas State SBDC 2011
- 18. Do’s and Don’ts • Do: Progress logically & use lots of • Don’t: Include typos, errors, visuals omissions • Do: Connect to things your audience • Don’t: Present internal understands inconsistencies or contradictions • Do: Cite independent sources for • Don’t: Discuss things the audience validation won’t understand • Do: Make sure the opportunity is • Don’t: Say anything untrue, believable unbelievable, or irrelevant • Do: Edit, Edit, Edit – Devil’s • Don’t: Guess at numbers or use Advocate random assumptions Texas State SBDC 2011
- 19. What’s New! by Rhonda Abrams (Business Plan Author) • Consider Globalization / Outsourcing • Greater Emphasis on Feasibility Analysis • Plan for the Use/Role of Technology and Social Media in Your Business • Address Social Responsibility • Have a Plan for Distributing your Plan • Peter Gruber (Yahoo Finance) … – “If you can’t tell it, you can’t sell it” (VIDEO) Texas State SBDC 2011
- 20. When it all Seems Overwhelming, Remember .. Persistence Pays Texas State SBDC 2011
- 21. In a Nutshell… Be Clear, Concise, and Compelling! Be Unique, Passionate, and Realistic! Be Ready for Q&A Why This? Why Us? Why Now? Who Cares? So What? Be able to Educate, Entertain, Engage Communicate, Connect, Convince !!! Texas State SBDC 2011
- 22. Take Aways • D.I.Y. – It’s Hard-work, Selling, and Financial Risk • Turn Your Head Around: Customer, Lender, Investor – “It’s All About You, It’s Not About You” • Demonstrate that you have a Three-Legged Fit? • Show Characteristics of a Good Planning/Presenting • Dispel with Myths & Misconceptions • Convey Ten Traits in Ten Minutes (David Rose) – Additional Suggestions, Passions & Pennies, Do’s & Don’ts • Consider “What’s New in Business Planning” • Persist (Don’t Give Up) Texas State SBDC 2011
Notes de l'éditeur
- Do You Need A Business Plan? It Depends … Do you have a clear vision, a roadmap to get there, and the strategy/tactics you need to succeed? Do you already have years of experience, a robust network, and a good reputation in your industry? Can you clearly define your customer profile, market niche, marketing approach, and sales strategy? Do you have the capital, credit score, partners and resources needed to launch and grow your business?
- Do You Need A Business Plan? It Depends … Do you have a clear vision, a roadmap to get there, and the strategy/tactics you need to succeed? Do you already have years of experience, a robust network, and a good reputation in your industry? Can you clearly define your customer profile, market niche, marketing approach, and sales strategy? Do you have the capital, credit score, partners and resources needed to launch and grow your business?
- Do You Need A Business Plan? It Depends … Do you have a clear vision, a roadmap to get there, and the strategy/tactics you need to succeed? Do you already have years of experience, a robust network, and a good reputation in your industry? Can you clearly define your customer profile, market niche, marketing approach, and sales strategy? Do you have the capital, credit score, partners and resources needed to launch and grow your business?
- Do You Need A Business Plan? It Depends … Do you have a clear vision, a roadmap to get there, and the strategy/tactics you need to succeed? Do you already have years of experience, a robust network, and a good reputation in your industry? Can you clearly define your customer profile, market niche, marketing approach, and sales strategy? Do you have the capital, credit score, partners and resources needed to launch and grow your business?
- Do You Need A Business Plan? It Depends … Do you have a clear vision, a roadmap to get there, and the strategy/tactics you need to succeed? Do you already have years of experience, a robust network, and a good reputation in your industry? Can you clearly define your customer profile, market niche, marketing approach, and sales strategy? Do you have the capital, credit score, partners and resources needed to launch and grow your business?
- Do You Need A Business Plan? It Depends … Do you have a clear vision, a roadmap to get there, and the strategy/tactics you need to succeed? Do you already have years of experience, a robust network, and a good reputation in your industry? Can you clearly define your customer profile, market niche, marketing approach, and sales strategy? Do you have the capital, credit score, partners and resources needed to launch and grow your business?
- Do You Need A Business Plan? It Depends … Do you have a clear vision, a roadmap to get there, and the strategy/tactics you need to succeed? Do you already have years of experience, a robust network, and a good reputation in your industry? Can you clearly define your customer profile, market niche, marketing approach, and sales strategy? Do you have the capital, credit score, partners and resources needed to launch and grow your business?
- Do You Need A Business Plan? It Depends … Do you have a clear vision, a roadmap to get there, and the strategy/tactics you need to succeed? Do you already have years of experience, a robust network, and a good reputation in your industry? Can you clearly define your customer profile, market niche, marketing approach, and sales strategy? Do you have the capital, credit score, partners and resources needed to launch and grow your business?
- What Characterizes a Good Business Plan? It is very targeted, direct, and purposeful. (Specify the audience and outcomes) It is supported by verifiable research and insightful analysis. (Present you data well) It recognizes risks, threats, and the competitive environment. (Be realistic) It embodies opportunities and alternative paths. (Demonstrate foresight) It reflects the entrepreneur and their business idea. (Prove uniqueness) It is concise, complete and professional (Respect your readers time)
- What Characterizes a Good Business Plan? It is very targeted, direct, and purposeful. (Specify the audience and outcomes) It is supported by verifiable research and insightful analysis. (Present you data well) It recognizes risks, threats, and the competitive environment. (Be realistic) It embodies opportunities and alternative paths. (Demonstrate foresight) It reflects the entrepreneur and their business idea. (Prove uniqueness) It is concise, complete and professional (Respect your readers time)
- What Characterizes a Good Business Plan? It is very targeted, direct, and purposeful. (Specify the audience and outcomes) It is supported by verifiable research and insightful analysis. (Present you data well) It recognizes risks, threats, and the competitive environment. (Be realistic) It embodies opportunities and alternative paths. (Demonstrate foresight) It reflects the entrepreneur and their business idea. (Prove uniqueness) It is concise, complete and professional (Respect your readers time)
- What Characterizes a Good Business Plan? It is very targeted, direct, and purposeful. (Specify the audience and outcomes) It is supported by verifiable research and insightful analysis. (Present you data well) It recognizes risks, threats, and the competitive environment. (Be realistic) It embodies opportunities and alternative paths. (Demonstrate foresight) It reflects the entrepreneur and their business idea. (Prove uniqueness) It is concise, complete and professional (Respect your readers time)
- Dispelling Myths and Misconceptions It’s all about you, and it’s not about you. (Entrepreneur – Product/Service -- Customer) Just because you believe, or see the vision, or commit -- doesn’t mean anyone else will. Raising equity capital or debt financing is only a means to the end, not the end in itself. Forget about it “I must maintain control” “It’s flawless, it cannot fail” “ I offer better customer service” “the patent will protect me”
- Things Not to Do Include typos, errors, or omissions. Present internal inconsistencies or contradictions. Discuss things the audience won’t understand. Say anything untrue, unbelievable, or irrelevant. Guess at numbers or use random assumptions. Things to Do Progress logically & Use lots of visuals. Connect to things your audience understands. Cite independent sources for validation. Make sure the opportunity is believable. Edit, Edit, Edit – Get a Devil’s Advocate.