THE NUTS AND BOLTS OF BUSINESS PLANS

THE NUTS AND BOLTS OF BUSINESS PLANS - THENUTSANDBOLTSOF...

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THE NUTS AND BOLTS OF  BUSINESS PLANS  (2005-2006) Information Packet for Syracuse University Students Prepared for: Students in the Business Plan Laboratory Teams in the Capstone Business Plan Competition (EEE 457)  Teams in the Annual Syracuse Business Plan Competition GEM Project Teams (MBA, iMBA, Army) Department of Entrepreneurship and Emerging Enterprises Syracuse University
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http://whitman.syr.edu/eee/ Revised and Updated July 2005 2002, 2003, 2004, 2005 Syracuse University DREAM > BELIEVE > PURSUE 2
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Table of Contents Page A Note on Your Team’s Overall Approach 2 The Plan is Worthless if You Don’t Do the Research 3 Required Outline or Structure for Your Business Plan 4 Suggested Length for the Sections of the Plan 6 Formatting and Use of Tables and Figures 6 Breakdown of the Major Sections of the Plan 7 Forty Issues to Die For 25 Sample Rating Sheet Used by Judges: Written Plan 27 Sample Rating Sheet Used by Judges: Oral Presentation of Plan 28 DREAM > BELIEVE > PURSUE 3
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A NOTE ON YOUR TEAM’S OVERALL APPROACH ~ A business plan is where imagination meets discipline. ~ A business plan is not a checklist, where you address sections one by one. It is a living, breathing document. You are telling a story, and bringing a venture to life. It is about a company, not a product or an idea. A company has many facets, and these are reflected in the various sections of the plan. Most critically, the sections are highly interdependent . They must be internally consistent and “hang together”. As you subsequently make changes to one section, you will find yourself having to go back and make adjustments to a number of other sections. It is the discipline of the plan that will help you see critical flaws in your idea, in how you plan to price, in your cost requirements, in your operational approach, in your marketing methods and so forth. You will have to continually adapt as you learn more about this business and the industry within which it will operate. Using the plan as a framework, it will help you to ‘tweak’ or adjust aspects of what you propose to do in ways that make the venture more viable. A business plan is also an objective and fact-based document. It is not written in first person, so be sure to eliminate all use of ‘I’, ‘We’, ‘Our’, and ‘Us’. Use your company name to refer to the business. It is critical that you organize your team in a logical fashion. If you divide sections among people, some sections require multiple people for a number of weeks, others might only require a single person and can be accomplished in a shorter time period. Do the financials last, but the economics fairly early in the process. The market section will be the hardest and take the longest. You should start on it right away. A logical approach is to break the overall plan down into THREE STAGES .
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THE NUTS AND BOLTS OF BUSINESS PLANS - THENUTSANDBOLTSOF...

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