Entrepreneurship

Slide 1 : Business Plan Workbook

Slide 2 :

This Journal : This Journal Starting your own business No matter how small or large your business, you've got to aggressively plan the work — and then work the plan!

Slide 4 : 11.. The journal is your planning tool The journal will help you plan your entire business venture from beginning to end by following the correct sequence of steps. 2. The journal is divided into 24 chapters Each chapter has explanatory notes and space where you can customise the material to suit your own business venture. The emphasis you put on each of them will depend entirely on the nature of the business you’re starting.

Slide 5 : 3. Each chapter has an Action Plan Action Plans make things happen! Each chapter has an Action Plan on which to write down everything you need to do to complete that chapter’s planning. 4. Part 23 - Your 12-Week Planner This section is a 3-month diary, divided into weekly segments. By transferring the chores and tasks from the Action Plans to a daily/weekly/monthly planner, you can be assured that your plans will come to fruition in an efficient and timely fashion.

Slide 6 : 5.. Part 24 - Your Big Pictures This section has 3 simple “Big Pictures” to complete that make writing your final business plan easier and minimises the risk of errors and omissions. 6.. Keep in touch with your journal all the time! Printing the journal and binding it is the best way to maximise its usefulness. Not only will you be able to work on your planning to the smallest detail, it also has loads of space to write down ideas and notes.

Planning To Plan : Planning To Plan A bad beginning makes a bad ending. Euripides Effective time management is one of the most over-looked – yet essential – tools when it comes to planning a new business venture. It is all too easy to underestimate the amount of time it takes to plan a sustainable business.

A Place to Work on Your Business Plan : A Place to Work on Your Business Plan Careful planning is the key to an efficient home office. Get some solutions for setting up your home office so that it works precisely how you need it to work. Think about space, privacy, noise, good lighting, comfort and your personal working style.

Make a Planning Poster Board : Make a Planning Poster Board Motivation works! So make a BIG poster board and use it to pin up everything that will inspire and motivate you. Write down all your great ideas on brightly coloured paper and pin them up. Pin up pictures from magazines, or photographs or quotations.

Turning “To Do” Lists into Action Plans : Turning “To Do” Lists into Action Plans Getting your venture up and running successfully may look like that loaf of bread right now - too big to manage! But if you slice it into as many small, manageable actions as possible, it becomes easier to achieve.

The Big Picture : The Big Picture If you don’t know where you’re going you’ll wind up somewhere else. Lawrence Peter You need a visual picture of your business as you plan it. This will make the actual writing of your business plan a lot easier. The journal includes three BIG Pictures

Your Business Name and Logo : Your Business Name and Logo Your business name must be memorable—but easy to pronounce and spell: Your potential customers need to be able to remember your business name. They also need to be able to find it easily in a phone book, directory or online.

The Purpose of Your Business : The Purpose of Your Business Describing the purpose of your business will give you a clear and concise vision of your business. A written statement of its purpose on your BIG picture will help you maintain the vision of your business.

Your Product/Service : Your Product/Service How you see your product/service: Describe everything in connection with it from your point of view. Describe it down to its tiniest detail—what it is, how it is used, its size, quantity, colour, packaging, who manufactures it, why people need or want it, who it benefits, etc.

Defining Your Business Goals : Defining Your Business Goals The next step in your BIG Picture is to establish the goals you want to achieve with your business. This is a vital step because your goals

Your Strengths and Weaknesses : Your Strengths and Weaknesses As an entrepreneur, it is critical that you know your strengths and weaknesses. It allows you to focus on the advantages you bring to your business while identifying areas where you will need extra resources and support.

Your Skills and Knowledge : Your Skills and Knowledge What background skills and knowledge are you personally bringing to your new business venture?

Your Location : Your Location Your location should be your number one priority. Signing a lease and paying rent is a financial burden - but a part of doing business. Signing a lease and paying rent on the wrong location is a financial disaster - and can signal the end of doing business.

Obtaining the Equipment and Supplies : Obtaining the Equipment and Supplies Now be creative about how you are going to get these supplies and equipment! The chances are you cannot simply go out and buy everything. You will be amazed at how much you can get without spending a lot of money.

12 People Who Can Help You : 12 People Who Can Help You We often don’t think of all our local “people resources” . But you will be amazed at the people you know who can—and will— help you!

Getting These People Involved : Getting These People Involved People relax and get along over food so here are a few ideas: Invite them to tea at your new location Or how about a picnic at your location? Or how about pizza at your new location? Invite them to a braai on the weekend Invite them to an informal meal at home

Staying Informed : Staying Informed You need to cultivate your own methods for staying abreast of developments in your particular field. The following list of resources is a starting point in developing your own information resources:

Your Business Team : Your Business Team The weakest link in a chain is also the strongest, because it has the power to break the chain. Stanislaw Lee Each job description must be very detailed. It must cover all the important facts about the position: the purpose of the job the responsibilities of the job the individual tasks involved the methods used to complete the tasks the relationship of the job to other jobs the qualifications needed for the job.

: An effective mission statement tells your business “story” and ideals in a few sentences. Remember, your mission statement conveys the image of your business. It should reflect your business’s special niche. Your Mission Statement

Market Research:Your Industry : Market Research:Your Industry There are many common aspects between industries in the business environment. You need to identify these. Each one also has its own distinct features. You need to identify these.

Analysing Your Competition : Analysing Your Competition Comparing Products / Services Marketing:Your Target Strategy Your Marketing Message Marketing: Your Promotions

A Website—10 Reasons to Have One : A Website—10 Reasons to Have One Generate a professional image Level the playing field It’s a 24/7 service. . . and you don’t have to pay overtime! Customer education Repeat Customers FAQs Automation Customers expect it Accurately track the traffic on your website Competitive Pressure

No.1 Promotion: Great Customer Relations : No.1 Promotion: Great Customer Relations Customers are the lifeblood of your business. You not only need a steady stream of customers, you also need their word-of-mouth promoting your business. It’s one of the best promotions - and it’s free

Sales Management : Sales Management Think about when you’re a customer. There’s a lot to be learnt from the experiences you have. Ask yourself: What turns you on as a customer? What turns you off?

Focus on Financials:Start-Up Costs : Focus on Financials:Start-Up Costs Money is usually the biggest stumbling block for people getting their businesses up and running - and keeping them up and running. Finance is, as it were, the stomach from which all other organs take their tone. Samuel Smiles

Focus on Financials:Finding Money Financial Statements Cash Management Keeping Records : Focus on Financials:Finding Money Financial Statements Cash Management Keeping Records

Bookkeeping Methods : Bookkeeping Methods A good bookkeeping system ought to: Be simple and logical Be inexpensive to set up Be easy to keep current Provide all your key financial information Be flexible enough to change as your business grows.

S.W.O.T. Analysis : S.W.O.T. Analysis Now that your planning is basically completed you need to do a S.W.O.T. analysis.

Business Continuity : Business Continuity 6 Significant Risks to Investigate Contingent Liability Business Debt Buy and Sell Agreement Asset Replacement Debit Loan Account Protection Key Person Insurance

Your Nest Egg : Your Nest Egg A diversified investment portfolio is a very important thing for any small business owner to have. He got me invested in some kind a fruit company Forrest Gump, referring to Apple Computer

Using a Financial Advisor : Using a Financial Advisor Choosing a Financial Advisor Credentials Experience Payment method Personal chemistry

Writing Your Business Plan : Writing Your Business Plan You need a written business plan if you are seeking bank financing or investors. Lenders don't invest to help you out. They invest to make money. They won’t even consider your business proposal without a written business plan.

Conclusion : Conclusion To attend one of our workshops please contact: Neville Solomon Cell: 078 804 9744 Office: 011 023 7294 Email: neville@schechinahmi.co.za