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Elements of a Business Plan Focus of this phase


Unit of measure Part of this phase

Draft ‘Final’
Business business business
concept plan plan
1. Executive summary

2. Product or service

3. Management team
Importance

4. Market and competition

5. Marketing and sales

6. Business system and organisation

7. Implementation schedule

8. Opportunities and risks

* 9. Financial
Footnote planning and financing
Source: Source
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Key questions – 1. Executive Summary


Unit of measure

Business concept Draft business plan ‘Final’ business plan

• What is your business idea? • What do you estimate your • What are the results of your
In what way does it fulfil the financing needs to be? detailed business planning?
criterion of uniqueness? • What are the sales, cost • What are your exact
• Who are your target and profit situations? financing needs?
customers? • What are the most • How will you delegate
• What is the value for those important milestones along management tasks?
customers? the way to your goal? • How much production
• What market volume • What test customers have capacity is necessary?
and growth rates do you approached/could you • How will the implementation
you forecast? approach? of your business idea be
• What competitive • What distribution channels organised?
environment do you face? will you use? • What are your next concrete
• What additional stages of • What partnerships would steps?
development are needed? you like to enter into?
• How much investment is • What opportunities and
necessary (high level risks do you face?
estimation)? • What is the picture on
• What long term goals have patents?
you set?

* Footnote
Source: Source
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Key questions – 2. Product or service


Unit of measure
Executive • What are the features or functions of the product/service?
Summary
• Who are the target customers?
Product or service • What value propositions does the product/service provide to the
customers? (e.g., tabulate customers’ unfulfilled needs and ways
the product/service addresses those needs)
Management team
• What is the revenue model? (i.e., description of revenue sources
– advertising revenue, transaction revenue, subscription revenue,
Market & flat-fee vs. percentage-based)
competition
• What is the development status of the product? What remains to
Marketing be done to convert the business idea into a tangible product or
& sales service?

Business system
• Has this business model been proven elsewhere? What are some
successful examples?
& organisation
• What is the plan to maintain the loyalty of customers?
Implementation
schedule

Opportunities &
risks

Financial
* planning
Footnote
Source: Source
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Key questions – 3. Management team


Unit of measure
Executive
Summary

Product or service • Who are the founders/founder groups and what are their
qualifications, experience and past achievements
• How critical is the idea originator to the future success of the
Management team venture?

Market &
• How are the management responsibilities shared among the
team? (e.g., a table of team members with their position and key
competition
activities/responsibilities)
Marketing • What is the plan to reinforce management team in the future?
& sales (e.g., schedule of future management hiring and skills required)
Business system
& organisation

Implementation
schedule

Opportunities &
risks

Financial
* planning
Footnote
Source: Source
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Key questions – 4. Market & competition


Unit of measure
Executive
Summary

Product or service

Management team • What is the potential market size for the product/service? (e.g.,
calculation derived from number of target customers, units sold,
value of sales)
Market &
competition • What is the expected market growth and which major factors
influence that growth?
Marketing
& sales
• Who are the likely competitors? What do they offer?
• What are the strengths and weaknesses of competitors? What is
Business system your competitive positioning vis-à-vis competitors? (i.e, a table of
& organisation competitors and their ratings across key criteria – e.g., time to
launch, technological capability, access to proprietary technology,
Implementation privileged relationship with suppliers and customers)
schedule

Opportunities &
risks

Financial
* planning
Footnote
Source: Source
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Key questions – 5. Marketing & sales


Unit of measure
Executive
Summary

Product or service

Management team

Market & • What are the specific plans to promote the product/service?
competition
• How will the product/service be distributed? Which partners will be
Marketing needed in the distribution channel?
& sales • What will be the pricing strategy? (e.g., how much will you charge
for different customer segments, quantities)
Business system
& organisation

Implementation
schedule

Opportunities &
risks

Financial
* planning
Footnote
Source: Source
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Key questions – 6. Business systems &


Unit of measure
Executive
organisation
Summary

Product or service

Management team • What is the proposed organisational structure of the company?


• How will this organisational structure help achieve business goals?
Market & • What skills will be required and what is the hiring plan?
competition (e.g., a table that shows total number of positions and the
functional description of positions, skills required for top 3 positions
Marketing
in each department)
& sales
• What is the scope of the business? (i.e. what will be performed
Business system internally and what will be outsourced?)
& organisation
• Have strategic partnerships been identified? If yes, how will these
Implementation partners be secured? If no, what is the plan to get partners?
schedule • Have key vendors been identified? If yes, how will these vendors
be secured? If no, what is the plan to get vendors?
Opportunities &
risks

Financial
* planning
Footnote
Source: Source
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Key questions – 7. Implementation schedule


Unit of measure
Executive
Summary

Product or service

Management team

Market &
competition

Marketing • What is the detailed short term implementation plan? (e.g., Gantt
& sales chart showing detailed activities by month)
– Who is responsible for each of the tasks?
Business system – What are major milestones?
& organisation – What are interdependencies between tasks?
Implementation • What is the 5-year implementation plan? (e.g., Gantt chart
schedule showing activities by quarter)
– Who is responsible for each of the tasks?
Opportunities & – What are major milestones?
risks
• What are possible long term options for the business?
Financial
* planning
Footnote
Source: Source
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Key questions – 8. Opportunities & risk


Unit of measure
Executive
Summary

Product or service

Management team

Market &
competition

Marketing
& sales

Business system • What are the best case and worst case scenarios for the 5-year
& organisation financial projections? What are the key assumptions on the key
parameters? (e.g., market shares, profit margin)
Implementation
schedule • What does the sensitivity analysis show? (i.e., by varying key
assumptions in isolation)
Opportunities &
risks
• What mitigating steps are planned in order to minimise risks?

Financial
* planning
Footnote
Source: Source
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Key questions – 9. Financial planning & financing


Unit of measure
Executive
Summary

Product or service

Management team

Market &
competition • For the next 5 years (and at least 1 year beyond breakeven point),
what are the projections for
Marketing – Income statement (includes detailed revenue source as
& sales described in the business model)
– Cash flow statement
Business system – Company valuation, utilising
& organisation · Discounted cash flow analysis
· Revenue multiples
Implementation
– Balance sheet
schedule
• What are the key assumption used in the financial performance?
Opportunities & (e.g., cost of capital, market share, margin)
risks
• What are the financial requirements for the business and what
sources of financing have been identified? (e.g., financial schedule
Financial
* planning
Footnote with amount needed and possible financing sources)
Source: Source
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