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TASK:
EXECUTIVE SUMMARY
Insert your text here. Your executive summary should be no more than 1 page – use it to induce the reader to keep reading – to look inside the business plan for more detail. Do not leave the writing of the this Executive Summary until last – it is important to write and revise it each time you revise/redraft your business plan, so that it becomes progressively better. Also, we do not want to see the Executive Summary being a ‘cut and paste’ of sentences from inside the Business Plan, so it is best to write it separately and revise it as you go.
THE COMPANY AND THE PRODUCT
Company History, Mission and ObjectivesThis section should take up no more than a page, preferably only half a page, as the reader will be more interested in learning about your proposed new product or service. An alternative to a longer statement about your company history is an appendix at the end of the Business Plan
The New Product or Service
INDUSTRY ANALYSIS
Market SituationMarket Size, Market Niches, and Growth prospectsThis might be the place to mention underlying trends indicating the existence and growth of demand for your new product or service.
Current and Potential Rivals and SubstitutesMention separately existing competitors and the potential competitors who could enter the market and compete with you, creative imitations (differentiated products in the same product category) and disruptive innovations that could happen (new substitutes).
Our Strategic AdvantagesInitial Competitive AdvantagesWhat resources and capabilities do you have that are initially valuable and rare?
Sustainable Competitive AdvantagesWhat resources and capabilities do you have that are likely to remain valuable, rare, hard to copy and non-substitutable?
Strategic Options The Target Market SelectedThe Business Model Chosen
MARKETING PLAN Product Design StrategyPricing StrategyPromotion StrategyDistribution StrategyWarranty, Packaging, and other Marketing StrategiesIf relevant
OPERATIONAL PLAN
The Top Management TeamOther Key Employees, Associates, and Relationships Here you could insert the Human Resources Plan table from the ‘Annual Statements’ sheet of NVFinPak and/or discuss verbally how many people will be employed in which roles after the five year time horizon of the plan. Don’t forget to also discuss key supply and customer relationships, and the composition of your Board of Advisors, etc
Production and OperationsProduction PlanIf relevant
Logistics of Component Supplies, Inventories, and DistributionResearch and DevelopmentFuture Products and ServicesFuture Geographic MarketsRisk Reduction StrategiesRisks PerceivedPro-active and Re-active Risk StrategiesFINANCIAL PLANUnderlying Assumptions and Summary FinancialsExpected Case ScenarioList your key assumptions relating to your financial projections for the Expected Case scenario– bullet points might be best.
This section should include a break-even analysis. Use small tables when suitable to make use of space and show crucial information – if relevant, larger tables should go in the appendix.
Worst-Case ScenarioList your key assumptions relating to your financial projections for the ‘Worst Case’ scenario – again, bullet points might be best. Not only show the percentages by which revenues will be lower and costs will be higher, but also note which costs can be avoided or deferred (e.g. deferred hiring of people and deferred investment expenditures) in the worst case scenario. Again, use tables to show the information that changed from the initial scenario to show the main changes and crucial information. Larger tables can go in the appendix if needed.
Pro-Forma Financial Statements (Expected Case)Initial Monthly Cash Flow StatementsThese should be shown month-by-month for the first two years, or longer if your net operating cash flows are not solidly positive within the first two years –use cash budget template.
Provide explanations of the likelihood of your plan and what could be a risk.
Sources and Uses of FundsConstruct a table showing year-by-year the sources of funds and the uses of funds by major category, for the expected case scenario.
The Ask and the OfferThis would normally have a valuation of the new venture – but think about what you need to start the company; investment, skills, talent, etc. Outline what you need to ‘ask’ an investor or mentor.
State clearly how much money and/or whatever else you need from the target reader, and what you are prepared to offer in return – including what share of total outstanding shares and how many seats on the Board of Directors, if applicable.
ConclusionThis should be a short paragraph stating your wish to have the target reader involved in your business and expressing your willingness to discuss your project with them in greater detail at their convenience.
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APPENDICES
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