Springboard business plan and video presentation master
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Grow America Springboard Competition Help Session, Round 2, April 19, 2012
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Springboard business plan and video presentation master
- 1. Competition Review – Business Plan
- 2. Know Your Audience • Compile a Business Plan Portfolio from which you extract Business Plan content • Make sure you effectively address the unique critical factors and expectations of the target audience • Think like the “investor” in the audience #GAcomp
- 3. Provide Conclusive and Compelling Evidence • You know the real want/need/opportunity and your target “theater”, not just your “customer” • You understand the value proposition • You have the TEAM to execute the plan – Competencies – Experience – Leadership #GAcomp
- 4. Provide Conclusive and Compelling Evidence • You have the product and/or service to meet the need and clearly define your Unique Selling Proposition • You have a solid plan to achieve your objectives • There are the intangible essentials that include passion, drive, vision and values #GAcomp
- 5. Back The Story Up With Facts and Data • Be appropriately positive and enthusiastic but realistic • Don’t be afraid to present extraordinary projections but show credible supporting data and material • When presenting assumptions, provide a sound rationale #GAcomp
- 6. Provide Clean Financials and Data • Revenues, margins, costs & expenses • Cash management including historical performance and projected use of funds • Plot the fastest path to revenue generation, then profitability, then the X-Factor • Define clear performance milestones #GAcomp
- 7. Face The Challenges, Don’t Try To Hide Them Or Hide From Them • Clearly identify potential risks and present associated mitigation strategies • If you don’t have competitors do you have a market? • If there’s a “Sweet Spot” you need to hit it #GAcomp
- 8. Takeaways • There are no formulas for perfect business plans • Assessment of plans will always have a subjective element as well as an objective element • You may have a different audience next time • Get an experienced team of independent and qualified eyes to provide honest feedback. $$ #GAcomp
- 9. Alan E. Hall Grow America Founder Founding Partners #GAcomp
- 10. Video Uploads
- 11. Overview of the Video Requirement • Why we ask for video content • What the video should include • How do I create a video? • Technical specifications
- 12. Why Video? Visual format better demonstrates: • Visual products and services • Immersion in your business • Your energy, passion, and ability to persuade
- 13. What Should the Video Include? • There are no specific content requirements • We want to see your creativity • It does NOT need to repeat everything in your plan, but should supplement it effectively
- 14. What Should I Focus on? • Anything that does not come through well in the written business plan • Elements that will persuade the judges that your business plan will be successful • The most critical or valuable elements of your business to effectively communicate
- 15. How Could I Focus on this Content? • Numbers: Charts, graphs, comparisons • Pressing need: Interview the customer • Your exceptional skill: Show the judges • Pitching effectively: Use color, font, audio, transitions, and content that PERSUADES Images in public domain as of 4/19/2012
- 16. Example Content: Demonstrations Product/Service demonstrations: • Demonstrate how it works • Record your physical product/service • Screencast your software product/service • Animations, sketches, or photos
- 17. Example Content: Meet the Team Meet the management team or employees: • Demonstrate your existing management team, employees, or advisers • Have someone interview you: demonstrate your vision, creativity, and passion • Show off your workspace or place of business
- 18. Tone and Content Restrictions • Choose a suitable tone for your video that is appropriate for judging by business professionals • Pay attention to copyright law if using any content you did not create yourself • No adult or disturbing content is allowed
- 19. Technical Specifications • 2 minute maximum, extra will be cut off • File must be uploaded in one of these formats: • .mp4 H.264 • .avi • .MPEG-4 AVC • .m4v • .mov • .wmv • .mpeg • Resolution: 720p or 1080p is preferred
- 20. How Do I Make a Video? • Learn quickly or find someone who already knows how • Neighbors • Co-workers • That nephew that is always on the computer • Free and easy-to-use resources to edit your video include: • Apple iMovie • Windows Movie Maker • Camera: If you don’t have one, borrow one, use your smartphone, or use the webcam in your laptop
- 21. Questions? ?
- 22. Alan E. Hall Grow America Founder Founding Partners #GAcomp
Notes de l'éditeur
- You might produce different business plans from your core material depending on the targeted reader. For Example, you might have a different approach for an equity investor then you would for a standard lender. Understand that both have their own exit strategies.Grow America has identified their critical factors for this competition which include the creation of jobs in Utah and revenue generation. They have also identified required inputs by category and suggested judging criteria.Don’t limit the identification of “investor” to financial investor. Some investors provide time, knowledge, connections or other valuable contributions to your initiative. Focus in on what is important to them but don’t exclude what’s important to you.
- You must fully understand your Buyer, User, Influencer, Beneficiary and other critical players.Their demographics, psychographics, habitsWhy they are your ideal audience and why you are their ideal “solution” providerThe competitive playing field as well as alternative practices that impact the opportunityCurrent practice, trendsYou may have the best product and a large market but if you can’t produce the best team you risk being passed over. Far too many entrepreneurs fail to adequately identify, qualify and secure the right people FOR THE JOB. Far too many put themselves in a position that they are not qualified to hold!
- You must fully understand your Buyer, User, Influencer, Beneficiary and other critical players.Their demographics, psychographics, habitsWhy they are your ideal audience and why you are their ideal “solution” providerThe competitive playing field as well as alternative practices that impact the opportunityCurrent practice, trendsYou may have the best product and a large market but if you can’t produce the best team you risk being passed over. Far too many entrepreneurs fail to adequately identify, qualify and secure the right people FOR THE JOB. Far too many put themselves in a position that they are not qualified to hold!
- If you don’t believe you have a real winner, why are you here?The assumption will be “if it seems to good to be true, …”. Show evidence that it’s too good to pass up!When you do not have all of the facts you might have to present assumptions. Be prepared to discuss the rationale behind them and how you will validate them.
- Show them the money not an IOUDemonstrate strong fiscal management skillsProtection of investment and getting to neutral fast will build supportUnderstand that funding might come in tranches based upon milestones/performance
- Show them the money not an IOUDemonstrate strong fiscal management skillsProtection of investment and getting to neutral fast will build supportUnderstand that funding might come in tranches based upon milestones/performance
- Show them the money not an IOUDemonstrate strong fiscal management skillsProtection of investment and getting to neutral fast will build supportUnderstand that funding might come in tranches based upon milestones/performance