Contenu connexe Similaire à WHAT IS A BUSINESS PLAN? - SESSION 10 (20) Plus de Olivier Witmeur (8) WHAT IS A BUSINESS PLAN? - SESSION 101. www.solvayentrepreneurs.be
WHAT IS A BUSINESS PLAN?
SESSION 10 (out of 10)
BUSINESS PLAN
This session is part of a 10-weeks course
given to master students of the SOLVAY
BRUSSELS SCHOOL OF ECONOMICS
AND MANAGEMENT by professor Olivier
WITMEUR.
2. Entrepreneurship Course – Session 10 - 2014 © Olivier WITMEUR
• Why the business plan plays a
central role in
entrepreneurship
• What makes a good business
plan
QUESTIONS AGENDA RESOURCES
• Business plan content • Checkliste de l’entrepreneur
2
Desired Outcomes of the Session
3. Entrepreneurship Course – Session 10 - 2014 © Olivier WITMEUR
Multiple BP structures are available. Pick the one you prefer.
Repetitions are frequent from one section to another. Avoid them as much as possible.
Back to the previous sessions!
3
Warning
4. Entrepreneurship Course – Session 10 - 2014 © Olivier WITMEUR
1. The Entrepreneur(s) Why you?
2. The Value Proposition What are the problem and your solution?
3. Market Can you make it big?
4. Competition Why are you better / unique.
5. Strategy What are your advantages and what makes you different?
6. Sales & Marketing Plan How do you acquire, get and grow your customer base?
7. Production How do you deliver your product/service
8. IP How do you protect your knowhow, technologies…
9. R&D What need to be done to finalize/improve your offering
10. Team and Culture What is the DNA of your company?
11. Roadmap and Milestones What are the steps to build the company and how do
you spend money?
12. Risk Analysis What are the alternative scenarios?
13. Financials Is it sustainable (and valuable)?
14. Financings What are you looking for?
15. Key Success Factors How do you master them
4
Typical detailled business plan content
5. Entrepreneurship Course – Session 10 - 2014 © Olivier WITMEUR
The people
The management team
• Bio (CVs as appendixes)
• Individual targets and motivations
Boards (can be included in a specific section)
• Board of Directors
• Advisory Board
The story
Where does the project and the people come from?
Achievements to date
5
Management + Achievements-to-date
6. Entrepreneurship Course – Session 10 - 2014 © Olivier WITMEUR
Board
Independent directors
Advisory/Strategy Board
Scientific Board
Articles of association
Shareholder agreement
6
Governance
7. Entrepreneurship Course – Session 10 - 2014 © Olivier WITMEUR
Scheme, cycles, organization and methodologies
Internal resources & partners
– Owned production facilities versus subcontracting
– Production capacity and bottlenecks
Production costs : Opex and Capex
Economy of scale
7
Production
8. Entrepreneurship Course – Session 10 - 2014 © Olivier WITMEUR
Development roadmap / Product Map
Deliverables
Risks & potential solutions
Project planning
– Deliverables
– Risks & potential solutions
Intellectual property
Team and partners involved in the project
R&D costs
8
Research & Development
9. Entrepreneurship Course – Session 10 - 2014 © Olivier WITMEUR
Future organization chart
Corporate culture / Values
Human Resource Management
Wage and benefit policy
Recruitment, appraisal…
9
Team & Culture
10. Entrepreneurship Course – Session 10 - 2014 © Olivier WITMEUR
STAGE 1 STAGE 2 STAGE 3
Roadmap & Milestones
10
R&D
OPS
ORGANISATION
Version 1
Case 1
Salesman 1
Version 2
First case abroad
Office abroad
TIME
11. Entrepreneurship Course – Session 10 - 2014 © Olivier WITMEUR
MILESTONES
The development stages of a start-up
11
0%
25%
50%
75%
100%
1 2 3 4 5 6 7 8 9 10 11 12 13
Typical Milestones
Sales
Organisation development
Recruitment
New Branch/BU
Product development
…
SEED START-UP EXPANSION
EARLY
DEVELOPMENT
MATURITY RENEWAL
12. Entrepreneurship Course – Session 10 - 2014 © Olivier WITMEUR
Risk Analysis
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Risk types
• Management
• Customer
• Competition
• Technology
• Finance
• Environment
• Legal
• …
• … and TIMING !!!
PLAN(S) B to be explained
13. Entrepreneurship Course – Session 10 - 2014 © Olivier WITMEUR
Financial Plan
13
Main assumptions (if not explained in the action plan)
Profit & Loss statement
Cash-flow
Balance sheet
Sensitivity analysis / alternative scenario
14. Entrepreneurship Course – Session 10 - 2014 © Olivier WITMEUR
Fit between action plan and financial plan
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ACTION PLAN
1. Marketing & Sales
2. Production
3. Research & Development
4. Administration
P&L STATEMENT (profit & loss)
Sales / Revenues
- COGS (cost of goods sold)
= Gross Margin
- S&M (Sales & Marketing)
- R&D (Research & Development)
- G&A (General & Administration)
= EBIT
(Earnings Before Interests and Taxes)
TO
BE
BENCHMARKED
15. Entrepreneurship Course – Session 10 - 2014 © Olivier WITMEUR
Needs
– Explain and differentiate the use of funds.
Financing plan
– How do you finance the business?
• Self financing / Bootstrapping
• Equity
• Debts
• Grants
– Proposal to investors
• Including exit if you want to attract BA or VC
15
Funding
17. Entrepreneurship Course – Session 10 - 2014 © Olivier WITMEUR
A real passion for entrepreneurship education and entrepreneurs.
• Student entrepreneurs: 2x
• Full time entrepreneur: once, in a team of 5
• Coach: 500+ projects over the last 20 years
• (Advisory) Board member in multiple new ventures
• Policy making: 2x
• Director of Solvay Entrepreneurs
• PhD in entrepreneurship in 2008
• … never as an investor
My wife (as Colombo), no kids, one dog (Vicky).
17
Olivier Witmeur (Belgian, 46)
18. Entrepreneurship Course – Session 10 - 2014 © Olivier WITMEUR
Solvay entrepreneurs is the entrepreneurship center of the Université Libre de
Bruxelles. We support entrepreneurs through the development of their venture, from
an idea to a successful and sustainable business.
18
Solvay Entrepreneurs
19. Entrepreneurship Course – Session 10 - 2014 © Olivier WITMEUR
Let’s keep in touch!
192014%©%Olivier%Witmeur
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