Why business planning is important

1. What? Me Plan? Sabrina Parsons CEO sabrina@paloalto.com September 20, 2008 Oregon Small Business Fair

4. Control Your Destiny Copyright 2005 Sabrina Parsons All Rights Reserved

5. Why Plan? Copyright 2005 Sabrina Parsons All Rights Reserved You are here now You want to go here

6. It’s a Process, Not Just a Plan Copyright 2005 Sabrina Parsons All Rights Reserved

7. Step 1: Situation Analysis Copyright 2005 Sabrina Parsons All Rights Reserved Situation Strategy Plan

8. Ideas vs. Opportunities Copyright 2005 Sabrina Parsons All Rights Reserved

9. Know Your Market Copyright 2005 Sabrina Parsons All Rights Reserved

10. What, Who, and How Many Copyright 2005 Sabrina Parsons All Rights Reserved

11. What’s the Problem? Copyright 2005 Sabrina Parsons All Rights Reserved Market Needs And What’s Your Solution?

12. Understand Market Segmentation Copyright 2005 Sabrina Parsons All Rights Reserved Laggards Early Adapters Opinion Leaders

13. Do Your Homework Copyright 2005 Sabrina Parsons All Rights Reserved

14. Simple Potential Market Copyright 2005 Sabrina Parsons All Rights Reserved

15. Keys to Success Copyright 2005 Sabrina Parsons All Rights Reserved

16. Competitive Advantage Copyright 2005 Sabrina Parsons All Rights Reserved Lowest Price! Always! We Will Match Anybody! Free parking! Technical Excellence

17. Step 2: Strategy Copyright 2005 Sabrina Parsons All Rights Reserved Situation Strategy Plan

18. Strategy is Focus Copyright 2005 Sabrina Parsons All Rights Reserved The more priorities or key points included... The less likelihood of implementation... Focus

19. Strategy is Tailored Copyright 2005 Sabrina Parsons All Rights Reserved

20. Strategy is Realistic Copyright 2005 Sabrina Parsons All Rights Reserved

21. Step 3: The Plan Copyright 2005 Sabrina Parsons All Rights Reserved Situation Strategy Plan

22. Make it Concrete and Specific Copyright 2005 Sabrina Parsons All Rights Reserved

24. Tailor the Outline for Your Needs Copyright 2005 Sabrina Parsons All Rights Reserved Executive Summary Company Description Product/Service Description Market Analysis Strategy/Implementation Summary Management Team Financial Plan

25. Objectives Must be Measurable Copyright 2005 Sabrina Parsons All Rights Reserved

26. Do the Numbers Copyright 2005 Sabrina Parsons All Rights Reserved Sales Forecast Personnel Plan Profit or Loss Past Results Balance Sheet

27. Profits ≠ Cash Copyright 2005 Sabrina Parsons All Rights Reserved

28. Copyright 2005 Sabrina Parsons All Rights Reserved

29. Copyright 2005 Sabrina Parsons All Rights Reserved

30. Business Plans vs Tax Accounting Copyright 2005 Sabrina Parsons All Rights Reserved

31. Educate Your Guesses Copyright 2005 Sabrina Parsons All Rights Reserved

32. Sample Milestones Copyright 2005 Sabrina Parsons All Rights Reserved

33. Step 4: Make it Happen Copyright 2005 Sabrina Parsons All Rights Reserved

34. Measure a Plan by its Implementation Copyright 2005 Sabrina Parsons All Rights Reserved Your bank account --- Your bank account, if there had been no plan Value of the business plan

35. The Complete Planning Process Copyright 2005 Sabrina Parsons All Rights Reserved Follow-up Actions Results Plan Realistic Specific Simple

37. End of Presentation Additional slides background only