Currently I have a Microsoft Word template for building my business plan, which is a combination of a number of things - my experience from new product development at my current employer; my readings on the matter; and some additional thoughts about how I can build in my thinking into my business plan.
The basic structure is as follows:-
Executive Summary
The Opportunity - The situation, the idea, how it works and the key benefits to the user
Strategy - objectives & mission; product strategy; marketing strategy; distribution strategy; financial & risk management strategy; strategic alliances; dashboards
Company Information - location; objectives & mission; ownership; start-up funding; legal (including Intellectual Property); Company KPI's
Product - product objectives & strategy; product description; competitors; technical solution; npd opportunities; competitive advantage; product KPI's; product budget
Marketing - marketing strategy & objectives; market information; market trends & consumption patterns; consumer identification & segmentation; consumer insight; brand definition & essence wheel; price positioning; advertising & promotional activity; new & expanding market opportunities; marketing KPI's; marketing budget
Distribution - distribution objectives & strategy; routes to consumer; distribution structure & segmentation analysis; distribution insights; number of distribution points & share; distribution marketing & communication; distribution pricing positioning & strategy; distribution KPI's; distribution budget
Strategic Alliances & Corporate Affairs - corporate affairs objectives & strategy; stakeholder mapping; stakeholder management; corporate affairs KPI's; corporate affairs budget
Financial & Risk Management - financial & risk management objectives & strategy; proposed business model; finance KPI's; projected profit / loss and balance sheet; key ratios; cash collection & bad debt; overall risk identification & mitigation plan; risk KPI's; finance & risk management KPI's
People - people objective & strategy; management structure; organisational structure; role profiles; cultural values; policies; people KPI's; people budget
Appendix - all relevant background documents referred to above
I have also developed a summary business plan which really just outlines the opportunity, the financial modelling, KPI's and key next steps. This I am envisaging will help gauge attractiveness of the idea by key stakeholders, before I put too much work into the main business plan.
One other thing I've developed along side either of these two documents is a non-disclosure agreement, to enable the discussion of key pertinent facts with friends and potential investors and still protect your intellectual property.
Over and above these documents, I still have to develop my pitch to potential investors.
Showing posts with label people. Show all posts
Showing posts with label people. Show all posts
Wednesday, 21 May 2008
Up and down like a tart's nightie
As Big Chris says in Lock Stock and Two Smoking Barrels, "it's been emotional".
My confidence swings constantly on virtually everything, and I haven't even asked for money yet!!! I doubt I'm going to get more confident as things progress...
I've been mulling these business ideas over in my head for at least a year, and through this process of mulling, I've defined & refined the business models hundreds of times. Starting from pipe dreams where I was going to make more than the GDP of some nations, now to something far more realistic yet still audacious. Something I know can make money and something that can be built.
Yet the confidence levels dip & rise likeswallows on a summer's eve
I think this is a really great idea and its actually not that difficult to implement, just will take some determination, some supportive partners, some cash & bit of luck. We don't need to find the holly grail, we just need to assemble the components that have been proven to work before in their individual parts. But then I think, "Well why hasn't somebody else done it?". It can't be that I am massively creative & talented. its too straightforward. But may be its straightforwardness has been missed by everybody else, who is too close to the action & too involved, protecting their own interests. Then I think, jeez, I must have missed something pretty substantial out in my thinking, that means it won't stack up. Arrggghhh! But what is it?! I don't know!!! Is that because I'm not an expert in this field?!! But then again, if I was an expert would I have seen the opportunity... now I'm getting trapped in a logic loop!!! ok... calm down... I can do this... its easy... I just have to bring together & unite a disparate group of suppliers & partners and make it work... I've done that before... but how do I stop any of them nicking the idea and going off on their own???? Arggghhhh... I just need to micro manage them, and pick my timing... I need help on this.... I can't do this impossible task on my own... well I can take it so far and then see what happens... but that is not the key to success - I need to be single minded & know what I'm doing. I am. I'm just not doing it - yet!
I know I have to get on with this, as the longer I leave it the more frustrated I may become, the less likely I will do to get on with it, and the more chance somebody else will do it instead of me - and HOW frustrating would that be?
I doubt my capabilities at times too - will I be able to recruit a great team of people around me? Could I persuade people I have worked for / with in the past to come & work for me, not challenge my authority and still make things happen? Have I got the key leadership skills? How will I handle things when I am under pressure?
So these are the emotions behind it all - pressure of time, pressure of a dream, pressure of making it happen, pressure of not appearing stupid, pressure of bringing people along in the journey. And its all ambigious at the moment, with nothing concrete. And that's what it takes to be a leader & an entrepreneur - to work the way through the ambiguity.
And I know all of this is normal... its what everybody experiences not just when they are starting their own business but also in many different adventures in life! So bring it on...
My confidence swings constantly on virtually everything, and I haven't even asked for money yet!!! I doubt I'm going to get more confident as things progress...
I've been mulling these business ideas over in my head for at least a year, and through this process of mulling, I've defined & refined the business models hundreds of times. Starting from pipe dreams where I was going to make more than the GDP of some nations, now to something far more realistic yet still audacious. Something I know can make money and something that can be built.
Yet the confidence levels dip & rise like
I think this is a really great idea and its actually not that difficult to implement, just will take some determination, some supportive partners, some cash & bit of luck. We don't need to find the holly grail, we just need to assemble the components that have been proven to work before in their individual parts. But then I think, "Well why hasn't somebody else done it?". It can't be that I am massively creative & talented. its too straightforward. But may be its straightforwardness has been missed by everybody else, who is too close to the action & too involved, protecting their own interests. Then I think, jeez, I must have missed something pretty substantial out in my thinking, that means it won't stack up. Arrggghhh! But what is it?! I don't know!!! Is that because I'm not an expert in this field?!! But then again, if I was an expert would I have seen the opportunity... now I'm getting trapped in a logic loop!!! ok... calm down... I can do this... its easy... I just have to bring together & unite a disparate group of suppliers & partners and make it work... I've done that before... but how do I stop any of them nicking the idea and going off on their own???? Arggghhhh... I just need to micro manage them, and pick my timing... I need help on this.... I can't do this impossible task on my own... well I can take it so far and then see what happens... but that is not the key to success - I need to be single minded & know what I'm doing. I am. I'm just not doing it - yet!
I know I have to get on with this, as the longer I leave it the more frustrated I may become, the less likely I will do to get on with it, and the more chance somebody else will do it instead of me - and HOW frustrating would that be?
I doubt my capabilities at times too - will I be able to recruit a great team of people around me? Could I persuade people I have worked for / with in the past to come & work for me, not challenge my authority and still make things happen? Have I got the key leadership skills? How will I handle things when I am under pressure?
So these are the emotions behind it all - pressure of time, pressure of a dream, pressure of making it happen, pressure of not appearing stupid, pressure of bringing people along in the journey. And its all ambigious at the moment, with nothing concrete. And that's what it takes to be a leader & an entrepreneur - to work the way through the ambiguity.
And I know all of this is normal... its what everybody experiences not just when they are starting their own business but also in many different adventures in life! So bring it on...
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