商业计划撰写工具包英文.ppt

,Business Plan Tool Kit,1,Contents, What is a Business Plan Writing a Business Plan Business Plan sample (to be complemented later),2,Definition of a business plan The role of a business plan in new business development process The significance of a business idea Developing a business idea Elements of a promising business idea Prioritizing a business idea Protecting your business idea, What is a Business Plan,3,Definition of a business plan,A business plan must have a detailed plan for the following eight factors ; 1) Product/ Service 2) Market and Competition 3) Marketing 4) Business System 5) Organization and HR 6) Opportunities and Risks 7) Implementation Schedule 8) Financial Planning, What is a business plan,Developing a business idea (idea which can make money) into a detailed plan that can be implemented,4,Role of a business plan in new business development process,Stage 1,Stage 2,Stage 3,Idea Generation,Business plan write-up,Implementation and growth,Idea Generation Management Team,Business Plan Development Team,Investment Committee Venture Team (TFT), What is a business plan,A business plan can be defined as the intermediary stage before a business idea can actually be implemented as a new business,5,Significance of a business idea,There are many different ways to generate a business idea. The following are recommendations to come up with well-organized business ideas-best if implemented at the same time Intangible Workshop : Hold workshops to generate ideas to facilitate company intangibles, as the significance of intangibles continue to grow under the new economy Benchmarking/Megatrend Analysis : Study megatrends of other industries to generate ideas or conduct benchmarking analysis Online Idea DB : Make an idea DB online to enable review/posting of ideas as a way to help develop business ideas Business Plan Competition: Hold business plan competitions to generate business ideas, What is a business plan,No business idea, no business plan No business plan, no business,A business idea is the start of a business establishment. You must have many creative ideas which can be transformed into a business in order to create value,Developing a business idea,6,Elements of a promising business idea,The key to success in the marketplace is satisfied customers, not great products. (ex) “Our new device can perform 200 operations per minute.” (X) “Our new device has 25% fewer parts.” (X) “Our new device will save the customer a quarter of the time.” (O) Make value propositions to the customer Present customers with unique values.,Clear customer value,Market of adequate size,Feasibility and profitability,Sufficient degree of innovation,1,2,4,3, What is a business plan, Clear Customer Value,Who will buy your product/service ? Why should the customer buy the product ? (What needs does your product fulfill that the competitor products cannot ?) What is most unique about your business idea ?,Key Questions,7,Does the market you plan to target with your products/services have adequate size (no precise analysis needed, statistics or estimates can be used) Know who your competitors are.,Clear customer value,Market of adequate size,Sufficient degree of innovation,1,2,4,3, What is a business plan, Market of adequate size,Feasibility and profitability,What is the market size ? Is the market growing ? What is your target market and market share ? Who are your competitors ? What are your strengths/weaknesses compare to your competitors ?,Key Questions,8,A business idea should have the following four elements according to product/service type and business system -Must specify where innovation is taking place,New product (Microsoft),New industry (Netscape),Existing industry,New business system (Dell),Business System,Convention,Innovation,Product/service,Convention,Innovation,Clear customer value,Market of adequate size,Sufficient degree of innovation,1,2,4,3,Feasibility and profitability, Sufficient degree of innovation, What is a business plan,How is your product/service innovative ? How is your business system innovative ?,Key Questions,9,Consider feasibility (legal constraints, time/resource limits, etc) Calculate overall profitability (simple cash flow, etc),Clear customer value,Market of adequate size,Sufficient degree of innovation,1,2,4,3,Feasibility and profitability, Feasibility and Profitability, What is a business plan,What are the constraints in implementing your business idea ? Why are other people not implementing this kind of business idea ? What is the gross margin rate of your planned business ? How much investment is necessary ? How much is the variable cost ? Does the profit increase ? What is the overall cash flow ?,Key Questions,10,Prioritization of a business idea - In search of a killer idea,A process to prioritize generated ideas Positioning of ideas on the below chart based on the potential market and its feasibility Killer Idea: An idea capable of creating a new market (ex. walkman, mobile phone, Dialpad, 45min. photograph printing, etc.),Seek solutions for obstacles in implementation,Immediately launch business plan write-up,Postpone,Seek ways to expand market size,Feasibility,Low,High,Market size (allow growth),Low,High, What is a business plan,11,Protecting a business idea,Ways of protecting a business idea Patenting : Patenting a business idea to ensure legal protection Confidentiality agreement : Maintaining a confidentiality agreement with related parties working on the business idea Quick implementation : Implementing your business plan as soon as possible, What is a business plan,Innovative ideas are the result of hard work and creative thinking. It is important to protect the idea sufficiently so that the idea is not exposed to other industries,The best protection is to implement your business idea as quickly as possible so as to build an entry barrier,12,The need to write a business plan Elements of a good business plan Business plan structure, Writing a business plan,Summary Product/ Service Market and Competition Marketing Business System Organization and HR Opportunities and Risks Implementation Schedule Financial Planning,13,The need to write a business plan,“Writing a business plan forces you into disciplined thinking, if you do an intellectually honest job. An idea may sound great, but when you put down all the details and numbers it may fall apart.”, Writing a business plan,The business plan was first used in the USA by start-up and venture companies as means of acquiring funds from private investors and venture capitalists. Even major corporations rely on business plans to help them make internal investment decisions.,Can systematically examine feasibility of the new business from various angles - Can provide solutions to problems and heighten efficiency of the new business with clear analysis of the situation Provides an invaluable tool for management and evaluation of the project,Benefits of writing a business plan,14,Elements of a good business plan, Clarity: Must clearly lay out the key points (strengths) of the business plan Objectivity: Must be based on objective data Simplicity: Should be comprehensible by technical layman Consistency: Must have uniform visual layout and consistency in editing of the final version, Well-defined, quantifiable customer value : Lowering the cost of delivering an existing value or creating a new value if this can be achieved at reasonable cost Innovative product/service : The product/service and/or business system must possess a high degree of innovation The possibility to protect/sustain the innovation A growing and/or large market : The target market should grow at a fast pace or should be a large market A far-sighted analysis of the competition : Provide a complete and objective description of existing and potential future competitors A careful weighing of the risks and opportunities : Provide a realistic description of the risks involved in the business and plans to overcome them. Explain ways to make use of potential opportunities, Writing a business plan,15,Check to see if your readers can read and comprehend the summary in five to ten minutes even if the person has no previous knowledge of your business concept or its technical or scientific basis, Writing a business plan,Summary,The summary should be able to deliver the most important aspects of the business plan to the decision-makers,Focus on these four elements when writing your summary Clarity of the business idea Value the product/ service provides to the customer Market size and growth Return on investment,Describe your business idea as clearly, compellingly, and concisely as you can,16,Product/ service,Development status of the product/service Explain the stage of development your product/service has reached Identify technical/legal/consumer behavioral/partnership (need to partner with other industries)/social and cultural constraints in delivering product or service to customers and provide solution measures,“If you dont know what the customer value is, the whole thing is a waste of time.”, Writing a business plan,Clearly indicate how your product/service differs from those that are now or will be on the market,Customer Value The business plan doesnt make any sense if the product or service fails to provide better value to the customer compared to current market offerings Analyze the value the customer gains from your product/service Weigh the advantages and disadvantages of the new product/service from the customers perspective,17,Check List (Product/service),Have you explained plans to retrieve the value delivered to the customer ? (how will you get your money back), Development status of the product/service,Have you accurately explained the current stage of development of your product/service ?,Have you indicated what resources (time, personnel, funds) you require for each subsequent development ?, Customer Value,Is there a clear definition of what customer value your product/service provides ?,Have you defined who you customers are and who are not ?,Have you identified why the customer buys your product/service ? (Have you explained what added value the customer receives compared to other products/services),Have you weighed the strengths/weaknesses of your product/service over comparable products/services from the customers perspective ?,Have you conducted pilot tests or surveys to see if the product/service fulfills customer needs ? ( or tried other means to find out),Have you explained the technical barriers and solution measures ?,Have you explained the institutional/legal constraints and ways to overcome them ?,Have you explained the customary/consumer behavioral constraints and solutions ?,Have you explained the cultural/social constraints and ways to overcome them ?,Yes,No, Writing a business plan,18,Market and Competition,Market size and growth A rapid increase in the value of the company can be expected only if the market holds a great potential The market size should be presented in figures i.e. number of customers, of unit sales, total sales Your expectations for market growth are critical ; show what factors will affect developments (e.g.technology, legislative initiatives) Forecasting market size and growth,Define factors influencing market size and growth,Set hypothesis on future developments,Collect facts needed to verify hypothesis (past trends, expert opinions),Estimate market size and growth based on the proven hypothesis,“If there is no competition, there is probably no market.”, Writing a business plan,19,Points to follow when making an estimate Build on solid foundation : Rely on easily verifiable figures even though there may be many unknowns Think logically : An estimate should be a logical conclusion and should not have any leaps in logic or depend on unspecified assumptions Compare your sources : Check your facts with other sources (interviews, statistics, expert opinions) to ensure objectiveness Be creative : Look for a substitute variable that relates to your need when a variable is unknown Check for plausibility : Check if each estimate makes sense, Writing a business plan,20,Market Segmentation - Segment the market and explain your target market - There are many ways to segment the market but the following three elements need to be present 1) Determine the number of customer in each market segment and their buying power (Measurability) 2) Identify customer behavioral pattern in each segment (Homogenous-within) 3) Use the same marketing strategy for customers within each segment,Customer segmentation criteria for consumer goods markets,Customer segmentation criteria for industrial goods markets,Location : country, urban/rural (population density), climate Demographics : age, sex, income, profession, religion, education level Behavior : Frequency of product purchase, product usage, brand loyalty, price sensitivity, purchasing variables Psychological factors : Lifestyle (behavior, interest, opinion),Demographics : company size, industry, location Operations : technology employed (e.g., digital, analog) Buying habits : centralized or decentralized purchasing, purchasing criteria Situational factor : urgency of need, order size, Writing a business plan,21,Competition Compare key customer value, target customers, sales revenue, market share, cost positioning, product lines, and distribution channels of your company with those of your competitors Compare strengths/weaknesses of your product with that of the competitors Consider ways to maintain your competitive edge Compare your intangible assets with those of the competitors Analyze your positioning strategy in the market with that of the competitors Positioning : transferring the customers market position of the product/service to a position that the company wants to take (ex. Low quality producthigh quality product, baby products adult products) Maps for designing positioning strategy (samples),Quality,Low,High,Price,Low,High,Product line,Low,High,Delivery time,Low,High,Credibility,Low,High,Convenience,Low,High, Writing a business plan,22,Have you explained factors crucial for success in your target market ?, Competition,Have you identified your competitors with comparable products/services ?,Have you given an analysis of your potential competitors ?, Market size and growth,Have you explained the general trend of your target market ?,Is there a rationale for present market size ?,Is there a rationale for future market growth rate ?, Market segmentation,Have you defined the criteria for market segmentation and its rationale ?,Have you compared the strengths and weaknesses of your major competitors with your own ?,Have you compared your strategies with those of your competitors ?,What is your competitive edge (especially intangible) over your competitors and have you explained if your competitive edge will be sustainable ?,Have you given a rationale for characteristics of each market segment (profitability, size, growth rate) and their future prospects ?,Is there a clear definition of the target customer and customer examples ?,Have you determined the target market share for each market segment ?, Writing a business plan,Check List (Market and competition),Yes,No,23,Marketing,Price Determine the attainable price for your product/service and evaluate on willingness of customers to pay the asked price (new businesses often encounter problems because of the conventional wisdom that price is derived from cost) Quantify the customer value of your product/service and define the price bracket. Verify and refine your assumptions through discussions with potential customers The pricing strategy depends on your goal ; the choice can be either penetrating the market quickly by going with low price (Penetration Strategy) or generating the highest possible return from the outset (Skimming Strategy),Skimming strategy,Penetration strategy,A new product/service is positioned as better than previous options, so a higher price can be justified. You can also create a superior image of the product/service Higher prices generally lead to higher profit margins, and allow the new company to finance its own growth,Can set a new standard in the early stage (e.g. Netscape, Explorer) Can substantially lower fixed costs per unit if the fixed cost is high in the initial stage of the business Can prevent market entry by competitors,“Marketing is far too important to be left to the marketing department.”, Writing a business plan,Marketing is a key element in a successful business launching. This requires a clear strategy for the so-called 4Ps (Product, Price, Place, Promotion) (For product, refer to the product/service section),24,Place How to deliver your product/service to the customer is a key marketing issue and requires consideration of various factors The main factors to consider are ; the number of potential customers, range of product/service, are the customers companies or individuals, where do they prefer to shop, does the product require explanation, what is the price bracket, what is the frequency of purchase, what are the institutional/legal constraints Another significant marketing decision is whether your company will handle the distribution itself, or whether a specialized operation will handle it for you. Technological developments have greatly expanded the spectrum of distribution channels and the choices are as follows ; 1) Third-party Retailers : Products sold to the end customer via retailers 2) Outside Agents : Specialized companies acting as agents for the distribution of products (dont acquire ownership rights) and charging commission for sales 3) Franchising : Franchisees paying license or franchise fees and selling t