Plan for Business Success
This SCORE workshop is presented to you to help you understand the importance of presenting a business plan for your start up or existing business. Whether your business needs funding or not it is imperative for your business to keep on track for success. Many business owners or start up businesses fail to realize that best way to measure your business performance is to review your business’s progress especially during the start up and growth phrase.
Many businesses fail during the growth phrase because of not investing in education and unexpected events such as the future need for capital or equipment required to fulfill new orders or hiring additional employees. The worse position in the world to be in is to have a business fail during start up and especially growth.
Believe it or not, all Fortune 500 businesses have a business plan and are constantly changing or updating their plan because of events such as obsolete products or shifts in customer’s attitudes and the economy. That is why you should constantly update your training and education to keep abreast of the ever changing business environment. Here is what you can expect from this SCORE workshop.
A thoughtful and well-executed business plan is the first step for every potential entrepreneur. Good planning increases the odds of success. This workshop covers the essential elements of business plan development. Topics include: setting goals and objectives, preparing marketing and financial plans and defining action steps to attain appropriate goals. With a good plan, build your road map to success.
• Establish the information needed for a detailed Business Plan.
• Create the Environment of the Company, Product or Service that will be the basis of this Plan; identify the Operations, Marketing Approach and Financial Implications.
• Establish Pro Forma P&L Statements, utilizing three Revenue Scenarios—Aggressive, Modest and Slow Revenue Growth.
• Identify the Risks you’ll face within each Pro Forma P&L Statement. Select the Most Likely Growth Scenario.
• Develop the Expected Cash Flow from the Chosen Growth Scenario, Loan Needs and Expected Payback to Investors/Yourself.
• Prioritize your Action Steps, recognizing those that are Absolute Musts, Very Important and Less Important. In essence, you’re creating a Time Line/Calendar for the tasks you’ll undertake to accomplish your Growth Objectives.
• Create your Plan and the last critical item, the Executive Summary; note, this Summary must portray your view of the Business Opportunity as Positive, Enthusiastic and Succinct. Ideally, the business plan is presented on one page.
Aaron is the Co-Founder and Chairman of a global marketing consulting organization which served senior management of Fortune 500 companies. Aaron assessed these companies’ market environments in terms of growth, technological threats/opportunities and competitive positioning.
The consulting disciplines that were the focus of his firm were included in the development of his clients’ Business Plans:
* New Product Needs/Assessments
* Acquisition Assessment/Divestiture
* Market Size/Growth
* Competitive Position/Future Strategy
* Technology Evaluation
* Distribution Channels
* Product Planning/Diversification
* New Markets/Geography Entry
* Adjunct Professor who taught Business Planning at the University level.
Monday July 6, 2015 from 8:45 AM to 12:00 PM CDT
SCORE Office, Citicorp Center
500 W. Madison Street
Chicago, IL 60661
Registration fee $50.00 – Make sure to ask about our special Summer discounts if applicable.