This document outlines a 10-step process for writing a business plan. It discusses the key reasons for developing a business plan, including gaining financing, having a clear vision and understanding of the business, and acting as a roadmap. The 10 steps covered are: executive summary, mission statement, company background, product description, marketing plan, competitive analysis, SWOT analysis, operations, financial planning, and timeline. For each step, some of the key elements that should be included are described. Additional business resources from GTCC are also listed.

2. Agenda
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Introductions: Name &Business/Industry

3. What is the PURPOSE
of a Business Plan?
TOP 4 REASONS TO COMPLETE YOUR BUSINESS PLAN
1. Road Map
2. Clear Vision of your Business
3. Clear Understanding of Roles & Needs
4. Gain Financing or Office Space

4. Why Should YOU Write
a Business Plan?
TOP 4 REASONS TO WRITE A BUSINESS PLAN
Write to Sell Yourself on the Business
May Save You Grief and Expense
May Show You Another Alternative
First Plan Is the Toughest

5. What has kept you
from completing
YOUR Business Plan?
TOP 4 REASONS YOUR BUSINESS PLAN IS NOT DONE
1. Time
2. Not Sure What to put in the Plan
3. Not Comfortable with the Financials
4. Didn’t Feel Like you NEEDED a Plan

6. Business Plan in 10 Steps

7. Assess Your Business Idea
What Would a Lender or Investor Want to Know
About - Owner, Business, Community?
Planning Process Starts with
Goals Both Business & Personal

8. Step 1
Executive
Summary

9. Name of Your Business
 Create a name or reevaluate the
name of your business.
 Does it integrate well with what you
are selling?
 Is it easy to spell and remember?
 Is it a name that can be well
branded over time?

10. Forecasting for the Future
What will your business look like 5 years
from now?
Employees
Expansion
Company Goals

11. Step 2
Mission
Statement

12. Mission
 Defines what your business does.
What activities it performs?
What is unique about your business?
Stands out from competitors.
Why are you necessary?

13. Step 3
Company
Background

14. Background
 Education
Experience in the field
Years Established
Management Team

15. Step 4
Product
Description

16. Product/Service Description
• What do you sell?
• Write a description.
• What are you top 3
products/services
based on revenue?
• How much are your
products?

17. Marketing
Plan
Step 5

18. Marketing Plan
Traditional Marketing
• Word of Mouth
• Flyers /Brochures
• Business Cards
• Newspaper/Magazines
• Billboards
• Website
• Print Newsletter
• Mail
Future Oriented Marketing
• Social Media
• Text Messaging
• Mobile App
• Mobile Site
• Landing Page
• Videos
• Email Newsletter
• Online Newspapers
Choose 3

19. Competitive
Analysis
Step 6

20. Competitive Analysis
Library Databases
• Reference USA
• Simply Map
Competitive strengths and weaknesses
• Risks and hurdles
• Industry Trends
• Assessment of the market

21. SWOT
Analysis
Step 7

22. Strengths. Weakness.
Opportunities. Threats.
Build on your strengths
Resolve your weaknesses
Exploit opportunities
Avoid threats

23. Step 8
Operations

24. Operations
Strategy for implementing the
business plan. Use assumptions
developed here in the financial
sections:
Marketing Strategy
Production Plan
Personnel
Customer Support
Future research and development
plans
Plan to stay technically current

25. Step 9
Financial
Planning

26. Financial Planning
 Create budgets to achieve business
objectives
 Control of your cash flow
 Accounts Receivable/Payable
 Due Dates/Loan Payments

27. Step 10
Timeline

28. Timeline
 Clearly define what you want to
achieve with your business
Make sure they are quantifiable and
set to specific time lines
Set specific goals for each of your
products or services.

29. What is Your
Moment?

30. Additional #BRC Courses

31. GTCC Small Business Center
• Twitter: @GTCCSBC
• Facebook: Small Business Center GTCC
• Facebook: Business Readiness Certification
336.334.4822 - Greensboro 336.454.1126 – High Point
Mark Hagenbuch x 62003 [mthagenbuch@Gtcc.edu]
DarLinda Finch x62001 [dkfinch@gtcc.edu]
Register for future classes at www.gtcc.edu/sbc