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Unformatted text preview: 9/23/2009 Business Plans for Business Plans for Social Social Entrepreneurs
Based on: Social Entrepreneurship: A Social Modern Approach to Social Value Creation, by Albert Brooks (2008) Why do you need a business plan?
Internal Internal blueprint for the enterprise
Th The social entrepreneur Current Current and potential volunteers Board Board members A representation of the venture to the outside representation world
Actual Actual and potential funders Government Government officials The The community 1 9/23/2009 Components of the business plan
Executive Executive Summary Description of the enterprise Description of the enterprise The The team The The market and industry Marketing Marketing and fundraising Financial Financial plan Goals and objectives Risks Risks assessment Supporting Supporting documents Executive Summary
What What is the venture? Why is it new and important? Why is it new and important? Who Who will benefit from it, and how? How How will the idea be executed? Who Who is the social entrepreneur, what unique skills, service or background do they bring to the venture What kind of support is needed, and how much? What kind of support is needed and how much? What What will constitute success? This This is written AFTER the other parts 2 9/23/2009 Description of Enterprise
The The idea, and why it is an authentic opportunity Th The mission statement Definition Definition of value, and how it is to be measured Key Key innovations or adaptations Competitive advantage Com Legal Legal structure Current Current status The Team
Management Management Board Board of Directors (Trustees) Advisors Advisors Early Early donors/supporters 3 9/23/2009 The Market and Industry
What What is the sector in which you are engaging? Who Who is being targeted?
What What is the size of the market? What What other organizations are serving this market? What What evidence do you have that this is viable? Marketing and Fundraising
How How will you attract resources to grow and sustain your enterprise? sustain your enterprise? Fundraising Fundraising targets and strategies GrantGrant-writing plans Pricing Pricing plans ForFor-profit activities Marketing Marketing NonNon-financial aspects of your enterprise 4 9/23/2009 Financial Plan
Financial Financial needs for three to five years Financial projections Financial Income Income statement CashCash-flow projections Balance Balance sheet Goals and Objectives
Definition Definition of success Intermediate goals and success measures Intermediate goals and success measures Evidence Evidence that goals can be achieved Timeline Timeline
Beginning Beginning date Incorporation Incorporation date Hiring, Hiring, space and equipment acquisition Start of service delivery Start of service delivery Beginning Beginning of cash flow from fees, grants & donations Enterprise Enterprise growth milestones Goal Goal attainment 5 9/23/2009 Measuring Social Value Creation
Accountability Accountability Evaluation Evaluation Outcomes Outcomes and impacts Effectiveness Effectiveness Social Social Return on Investment
Blended Blended Values (Emerson) Drucker Drucker Risk Assessment
Financial Financial risks Legal risks Talent Talent risks Environmental Environmental risks
Political Political and government Economic Economic Demographic Demographic Other Other Alternative Alternative strategies 6 9/23/2009 Supporting Documents
Resumes Resumes for key participants
Management Management Board Board Data Data sources cited References References for literature cited Pitfalls
Failure Failure to communicate realistic goals Failure to anticipate problems Failure to anticipate problems Lack Lack of commitment to the venture Lack Lack of experience/skills Failure Failure to demonstrate market niche Appearance Appearance of plan – too slick/sloppy Not getting to the point Unrealistic Unrealistic financial projections Current Current state of development 7 9/23/2009 Resources
Social Social Entrepreneurship: The Arts of Mission-based MissionVenture Development, Brinckerhoff (2000) (2000) www.ventures.yale.edu www.ventures.yale.edu www.ventures.yate.edu/competition_winning_b www.ventures.yate.edu/competition_winning_b usiness_plans.asp. Social Entrepreneurship: A Modern Approach to App Social Value Creation, Brooks (2008) 8 ...
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- Spring '08