The Business Plan Workbook by Tom Hua - HTML preview

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1. Primary Data Sources:

2. Secondary Data Sources;





A. Industry Overview

B. Product/Service

C. Target Market

D. Competitive Analysis

E.1 Promotional Strategy

E.2. Place (Distribution strategy)

E.3. Pricing Strategy

E. 4. Product/Service








1) Cash Flow Statement:

2) Balance Sheet:

3) Income Statement:



Using this WorkBook:

o Think through your ideas.

o Print out the BP Chef Workbook, make notes on this form or jot your thoughts into a notebook o Organize your communication into the business plan components

o Simply create your formal business plan to get the best funding for your venture!



The Bplan Chef Workbook contains extensive

guidelines, structure and template for working through the components of a business plan, and to ultimately create a successful business plan.

It is aimed squarely at new and established businesses seeking to expand, raise finance etc., which need to produce a comprehensive business plan for

internal/external use.

The Bplan Chef Workbook is intended as an exercise book for sophisticated entrepreneurs as well as for some small businesses.

The Workbook Exercises of writing and thinking through your business requirements are as important as the final business plan document. This section is intended to allow you to challenge your assumptions, and produce a rough format with which to guide the creation of your business plan. You will use the notes from this workbook, as a reference for when you create your formal business plan.

Follow through the business plan outline questions and write your responses on a separate piece of paper.

Our purpose is to communicate with you, to help you take ownership of your work. Use your own style. It 5

should be a personal expression (an art form) as much as a professional document (scientifically and structurally sound).


Workbook Objectives

• To understand what is a business plan

• Why you need a business plan

• Where to start

• How to write an effective business plan

• How to ultimately use a business plan to create your venture


Why You need to Write

a Business Plan

To Plot the course

• To create the “big picture” - to recognize long term direction and think about staying in

business and not just starting a business

To Create a Feasibility Study

• Test the viability of your idea

• Is it going to be profitable

• What kind of financing will you need

• Recognize the barriers to your success

Become a Better Decision Maker

• Anticipate problems

• The process of gathering information ahead of time will allow you to make more informed


• Your plan will provide you with an organized way to face issues

For a Reality Check

• The plan will challenge some of your pre-conceived assumptions


• Your plan will raise questions that will inspire solutions before you need face those problems

• It allows you to recognize what will be required of you

• Identifies your strengths and weaknesses and highlights needed areas of assistance

A Business Plan is like having a map.

Without a map you can still get by in your

travels, but you can appreciate how much

easier it is, when you know where you are

going once you hold one in your hand.

-- A. Mirkovic,

Guide & Measurement Tool

• The Business Plan will act as guide throughout your development and allow you measure your progress against planned expectations. You can make adjustments accordingly.

Selling Tool

The Business Plan is the document ultimately needed to sell your venture as an investment opportunity to potential investors and partners ( see and to your own suppliers, and



Checklist for completing

the workbook exercises

View Samples of business plans if you can, to get an idea of the type of structure you will need to create;

Prepare a timeline (how much time you will

commit to the project and the completion date) Define the potential audience for you business plan (investors, suppliers, or employees)

Gather research on your industry, on similar businesses, your particular location, type of business, sector, market, etc.

Organize the research into easily referenced sections\

Write the plan

o Use clear vocabulary, appropriate for your audience

o Avoid unneeded jargon

o Note to stress your plan is of quality and not just quantity

o Be confident, it will show in your writing style 10


By taking the time to go through the exercises

ahead of time, you will be able to confront and deal

with challenges of creating a successful business

plan. In the end you will write a more effective

business plan and actually complete it in less time

than if you just began writing it on your own!


Business Plan Research

Before you begin writing within the following section, Business Plan Outline, make sure that you have done some research. Business Plan Research helps you make informed decisions and create a successful direction for your business plan.

Gather information sources

Record relevant information

Analyze the information you have gathered and note the associated opportunities and risks What types of information to gather:

1. Primary Data Sources:

o Focus Groups

o Questionnaire/Survey

o Product or Service Sampling

2. Secondary Data Sources;

o Associations

o Newspapers, Magazines, Periodicals

o The Internet

o Industry Directories

o Economic Development Departments

o Etc.


Business Plan Outline

Note that there are many different types of Business Plan formats. The layout is dependant upon the type of business, purpose of the plan, readership, etc. You may choose to add some more sections to this outline or ignore some others, but the basics are listed below: 1. Executive Summary

What is an Executive Summary? The

Executive Summary is the one to two

page introduction of your business plan.

It describes the opportunity and proves

that any investment in the venture will

provide a good return.

Why is it important: To capture interest and support from the reader. Based on

the Executive Summary an investor will

make up his/her mind whether or not to

read more about the opportunity.


2. Company Profile

What is a Company Profile? The Company Profile provides a snapshot of your business, and who is involved in it. This is an

important page for a perspective investor as he/she can scan the type of business,

commitment level and involvement from this

one page.

Why is it important? It is the follow up section to the Executive Summary, providing an overall impression of the business

Suppliers and potential partners are often

interested in this page.

3. Marketing Plan

o Industry Trends

o Product/Service

o Target Market

o Competitive Analysis

o Marketing Mix

Marketing Plan

A. Industry Overview

B. Product/Service

C. Target Market

D. Competitive Analysis

E. Marketing Mix

E.1. Promotion

E.2. Place

E.3. Price

E.4. Product


4. Operational Plan

5. Management Team/Human Resources

6. Financial Plan

a. Start up costs

b. Cash Flow Statement

c. Income Statement

d. Balance Sheet

7. Conclusion/ Actions


The following pages contain the remainder of the Business Plan Outline section of the workbook. Be sure to have done some research before beginning the exercises. Simply use point form descriptions if you like. Once you have gone through all of the sections of the Outline, you will be ready to begin your formal Business Plan!

Let’s get started.


1. Executive Summary:


Answer the question of “what business am I in?”



Marketing Highlights:

Distinctive features of the Product/Service ____________________________________________


Target market Summary



Competitive Analysis



Key marketing strategies



Operational Highlights:

Critical legal issues related to your particular venture ____________________________________________


Management team overview - critical roles and pertinent skills




Is it an independent business, franchise, expansion, takeover, etc?



Who will be your major suppliers, and what are the current or proposed relationships with them: ____________________________________________


Financial Highlights:

Summary of financial requirements and projections ____________________________________________


What is the equity that you and any partners have invested in the venture?




2. Company Profile


Form of Business:

Sole Proprietorship




Owners/ Principals



Name of Business



What is the start date of the business?



Business Operation (F/T or P/T, operating hours) ____________________________________________


Business Description

(What is your product or service, & business type) 19






Contact Information (tel, fax, http address, email) ____________________________________________


Business Advisors

(Include Lawyers, Accountants, Consultants, etc.) ____________________________________________





3. Marketing Plan

A. Industry Overview

What is the Industry Overview? This section provides a synopsis for the reader about the industry and general economy that your business will be operating in.

Note trends, characteristics, etc. from which you can later justify opportunities or risks.

Note any trends, legislation or changes within the following categories from which your business will ultimately benefit from:

Social Change




Technological Change




Political Change




Demographic Change





Economic Change