Business Planning Principles and Applications

Business Planning Principles and Applications

52 Pages · 2010 · 189 KB · English

Business Planning Principles and Applications Moller Maersk Innovation & Change Management Workshop. I. Basic Concepts II. Business Plan Elements

Business Planning Principles and Applications free download


William K Aulet, Senior Lecturer and Acting Managing Director MIT Entrepreneurship Center MIT Sloan Executive Education, 27 October 2009 One Amherst Street, Room E40196 Cambridge, MA 021421352 USA phone: +16172538653 fax: +16172538633 email: [email protected] http://entrepreneurshipmitedu Business Planning Principles and Applications Moller Maersk Innovation & Change Management Workshop Desired Outcomes of the Presentation 1 You understand the basic concepts to properly approach a fundraising business plan 2 You are familiar with the key elements of any business plan and how to constructively construct these sections for fundraising as well as for the success of your business 3 You will understand what are the critical success factors of business plans to people who will provide funding 4 You will understand the difference between an operating business plan and a fundraising business plan relative to the frequency with which it gets updated Outline: I Basic Concepts II Business Plan Elements III Critical Success Factors IV The Dynamic Business Plan IBasic Concepts IIBusiness Plan Elements IIICritical Success Factors IVThe Dynamic Business Plan Outline: Purpose of Business Plan • Internal use of plan – Focus – Alignment – Commitment • External use of plan – Get funding – Set expectations – Alliances/Partnerships/Mergers Definition of a Business Plan? •Written – Commitment • Quantitative – Measurable –Financials – Milestones • Clarity – Specific – Convincing Understand Your Audience • Management Team • Employees • Customers/Partners • Funders • Other influencers • Acquirers Planning is absolutely essential for any new venture Elements of Business Plan •Market ÎCustomers ÎMarket • Product or Service • Technology/Competitive Advantage • Operations • Competition • Team • Financial Projections • Exit Strategy/Returns • Executive Summary Basic Concepts if Fundraising What is the reason for your business? Then, what is the objective of financing? What is your long term financing strategy? What is the objective of this financing activity? What is your preferred source? Compatible with your culture, owners objectives and needs? Is the Board of Directors clear on all of the above? Understand your target customer – this is sales Business Plans to raise money vary by objective and target audience All Business Plans are not exactly alike … but they do have the same key elements IBasic Concepts IIBusiness Plan Elements IIICritical Success Factors IVThe Dynamic Business Plan Outline: Simple Logical Flow Entrepreneurial Marketing • Target customers • Product Definition • Value Propositions • Business Model Sales •Prospects Îcustomers •Customize • Feedback • New opportunities Engineering • Build it •IP • Feedback • New opportunities Finance • Measure & Track • Resource allocation • Productivity • Plan & Analysis • Feedback Founders’ values, goals, skills, interests and assets Elements of Business Plan Market ÎCustomers ÎMarket Product or Service Technology/Competitive Advantage Operations Competition Team Financial Projections Exit Strategy/Returns Seeing the Future Opportunity 11 Market ÎCustomers ÎMarket Focus on your first market only Richly describe your target customer in all dimensions Name them specifically Size the overall market Describe the “asis” state Name the ones you specifically have spoken to who have this pain/opportunity Describe Key Characteristics of target customers/market Describe their ability to get funding to buy new solutions What is the compelling factor/event that will make them buy Who are other entrenched players Name the first 10 target customers If successful, what would be your next logical market? Gathering Information & Understanding Entrepreneurial Marketing is not a spectator sport!!! Quantifying the Value Proposition “When you can measure what you are speaking about and express it in numbers, you know something about it; When you can not measure it… your knowledge is meager and unsatisfactory” Lord Kelvin Example: Toy Development Process Tech Package Design Ideation PhaseLooks like Works like Commercialization Development Times 4 Weeks 414 Days Model Types: 2D Drawings 3D CAD Models 3D Hand Models 2 Weeks Engineering Manufacturing Rework 2 3 Months Tool cavity development analog CNC Software CNC Milling 4 Weeks** Could be lower with FreeForm 4 Days Model Types: FreeForm Native File 3 Days Engineering Manufacturing Rework 3 Weeks Digital tool cavity via STL CNC FreeForm Files CNC Milling 16 Weeks Total Development Time 8 Weeks** Total Development Time Today’s Process FreeForm Process 50% Reduction in Time FreeForm 70% Reduction in Time 70% Reduction in Time US Design Firms Asian Tool Suppliers Evaluating Marketing Section Bad: Lead with Technology Addressing many markets “China Syndrome” No solid economic value proposition No competition OK to Good: Understand customers List customers Top down and bottom up sizing of market including growth rates Reasonable addressable market and market penetration assumptions Great: Spoke to lots of specific customers includes testimonials and listed contact info Identified champion(s) and committed user advisory board Compelling and proven value proposition validated Demonstrated that target

------------- Read More -------------

Download business-planning-principles-and-applications.pdf

Business Planning Principles and Applications related documents

DEPARTMENT of HEALTH and HUMAN - Centers for Disease Control and

507 Pages · 2008 · 6.61 MB · English

influenza, natural disasters, and terrorism, while remaining focused on the threats to health and local, tribal and territorial health network.

Immigration and Economy in the Globalization Process

236 Pages · 2002 · 1.63 MB · English

will need employees with the right skills and motivation. Switching to an active im- Finland by analyzing the development of the volume of foreign-born and foreign na- tionals and direct foreign . In the globalization trend of corporations, competition has shifted from natural re- source and expen

Addressing FRTB with Oracle Financial Services Analytical Applications

9 Pages · 2017 · 324 KB · English

Integrated risk and finance data model ensuring compliance with Risk Data Aggregation as per BCBS239 Identify 12-month stress period over observation time. » Default risk charge Oracle Financial Services Analytical Applications' (OFSAA) FRTB solution enables banks to accurately measure,.

Interpreting sloppy stick figures by graph rectification and

14 Pages · 2001 · 822 KB · English

1 Interpreting sloppy stick figures by graph rectification and constraint-based matching. James V. Mahoney and Markus P. J. Fromherz Xerox Palo Alto Research Center

Assistance and Accountability in Externally Managed Schools

37 Pages · 2008 · 263 KB · English

Edison Schools, Inc., is the largest and most visible among a growing number of. Education Management profit EMOs were managing 521 public schools serving nearly 240,000 students across the United . educational services; and management consulting under the “Edison Alliance” flag, through 

An integrated approach to product design and process selection

48 Pages · 2011 · 2.15 MB ·

Narayan Raman .. M? < Bs% .. a geometric series given by TEMP(y) = r * TEMP(

Normal Curve Equivalents and Percentiles

1 Pages · 2009 · 385 KB · English

Title: A.1-(28)_FINAL_Percentiles_NCEs_2009-08-23 Author: Dee McMann Created Date: 10/28/2009 3:50:39 PM

Afghanistan Floods and Landslide

12 Pages · 2014 · 585 KB · English

are Health and care (mobile health teams, psychosocial support and CBHFA), Water and Sanitation (distribution of .. health teams (MHTs, including deployment of teams across regions) working closely with CBHFA volunteers, psycho When operating, they erect a tent that serves as an OPD ward.

Word-Level Language Identification and Predicting Codeswitching Points in Swahili-English ...

9 Pages · 2016 · 136 KB · English

Proceedings of the Second Workshop on Computational Approaches to Code Switching, pages 21–29,. Austin, TX, November 1, 2016. cO2016 conveys meaning (Myers-Scotton, 1993b). A model should be able to see this Solorio and Liu look at English-Spanish codeswitching in a relatively small 

ENTERPRISE, ENBRIDGE AND ANADARKO TO JOINTLY

4 Pages · 2012 · 111 KB · English

ENTERPRISE, ANADARKO, AND DCP MIDSTREAM TO JOINTLY DEVELOP NEW NGL PIPELINE TO SERVE COLORADO'S DENVER-JULESBURG BASIN Houston and The Woodlands, Texas and Denver