Business%20Plan%20Guide - Business Plan Timeline A....

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Business Plan Timeline A. Development Phase a. Informal Meetings – to define the idea and considerations necessary for writing the business plan 1. Idea Meeting Present a business idea in a manner a person outside of your team can understand Begin to think about overt benefit, dramatic difference and real reason to believe 2. Financials Meeting Bring a written proposal that: o Defines what the costs of starting the business are o Determines how to stage financing o Analyzes operating costs o Identifies a groups to approach for financing Key points o No business can function without a source of income—you need to keep track of where cash is at all times to avoid an unexpected OOC date o An analysis of startup/operating costs will help give your business plan direction o Have an idea of who you want to ask for money from and begin to think about why they would want to give you money b. Idea Workshop - to focus ideas, practice communication skills and give/receive peer feedback 1. 1-Page Ad (due 3/22) Prepare a one page graphic representation of your business idea that conveys the following o Product/service o Overt benefit o Dramatic difference o Real reason to believe Think of this activity as a “teaser”—it should grab a person’s attention and present a clear picture of what your business proposal is Keep text to a minimum 2. Elevator Pitch Presentation (4/10)
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Business%20Plan%20Guide - Business Plan Timeline A....

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