Business Plan Mythical status Thousands of books and articles 28126 books on Amazoncom Hard to predict future Too optimistic Only Exec Summary ID: 341766
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Slide1
The Business PlanSlide2
Business Plan
Mythical
status
Thousands
of
books
and
articles
(28.126
books
on
Amazon.com
!)
Hard to
predict
future
Too
optimistic
Only
Exec
Summary
read
Living
documentSlide3
Why
write
a business plan?
A
description
of
what
you
want
to
achieve
with
your
business
idea
, and
how
Think
through
and
formulate
all
basic
foundations
for
the
business
you
try
to
create
, and
the
plan to
execute
Create
a living
document
that
can
be
communicated
,
discussed
and
revised
Slide4
What
do investors
really
want
to know?
The
size
of
the
opportunity
Is
the
business
model
good
?
Does
it
scale
?
Is
there
pain
and market pull?
Do
you
have a
unique
(unfair)
advantage
?
Can
these
people
make it
happen
?
Have
you
considered
everything
that
can
go
wrong
?
Is
the
timing right?
Hvor er
penga
?Slide5
Time to positive cash flow
Potential reward
Money
Time
depth of holeSlide6
Invest in a company – not a feature
The world is
changing
:
Market
Technology
If
you
don’t have a TEAM that can develop the business with changing environment, you have nothing Most startup companies
that succeed, have changed their
business model 3 times before finding
the one that works
Arthur Rock: ”I
invest
in
people
, not in
ideas
”
”
If
you
can
find
good
people
,
if
they’re
wrong
about
the
product
,
they’ll
make a
switch
…” (Nettavisen)Slide7
William
Sahlmann
:
How to
write
a Great business plan
Harvard Business
Review
, 1999
What investors really
are looking forNine Questions About the Business Every Business Plan Should AnswerFourteen "Personal" Questions Every Business Plan Should AnswerSlide8
Sahlmann
: 9
questions
...
Who is the new venture’s customer?
How does the customer make decisions about buying this product or service?
To what degree is the product or service a compelling purchase for the customer?
How will the product or service be priced?
How will the venture reach all the identified customer segments?
How much does it cost (in time and rexources) to acquire a customer?
How much does it cost to produce and deliver the product or service?How much does it cost to support a customer?How easy is it to retain a customer?Slide9
14
questions
Where are the founders from?
Where have they been educated?
Where have they worked – and for whom?
What have they accomplished – professionally and personally – in the past?
What is their reputation in the business community?
What experience do they have that is directly relevant to the opportunity they are pursuing?
What skills, abilities and knowledge do they have?Slide10
14 questions...
How realistic are they about the venture’s chances for success and the tribulations it will face?
Who else needs to be on the team?
Are they prepared to recruit high-quality people?
How will they respond to adversity?
Do they have the mettle to make the inevitable hard choices that have to be made?
How committed are they to this venture?
What are their motivations?Slide11
A
business plan
is a document that describes the opportunity, product, context, strategy, team, required resources, financial return, and harvest of a business venture.
Technology Ventures
: From Idea to
Enterprise
Chapter
7: Venture Creation and the Business planSlide12
Technology Ventures
: From Idea to
Enterprise
Chapter
7: Venture Creation and the Business plan
The key function of writing a plan is to record the opportunity and the solution to the need, and show that solution can be made to be economically favorable within a reasonable period of timeSlide13
Technology Ventures
: From Idea to
Enterprise
Chapter
7: Venture Creation and the Business planSlide14
Porter’s
5
forces
:
McAffee:ComplementsSlide15
Technology Ventures
: From Idea to
Enterprise
Chapter
7: Venture Creation and the Business planSlide16
Technology Ventures
: From Idea to
Enterprise
Chapter
7: Venture Creation and the Business planSlide17
The
business plan
serves as the alignment tool for a new business venture.
Resources
Financial
Physical
Intellectual
Deal
Reward, Risks
Incentives
Ownership
Harvest
People
The Team
Capabilities
Attitude
Reputation
Opportunity
Customers
Strategy
Business
Model
The
Business
Plan
Context:
Economy,
Regulatory, Industry
Technology Ventures
: From Idea to
Enterprise
Chapter
7: Venture Creation and the Business planSlide18
Entrepreneurs can learn and master a process for building a new venture and they communicate their intentions by writing a business plan.
Technology Ventures
: From Idea to
Enterprise
Chapter
7: Venture Creation and the Business plan