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    How To Write A GREAT Business Plan

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    TheBusinessInsider
    This document provides guidance on how to write a great business plan in 3 steps or less. It explains that great business plans are concise, clear, and explain the value proposition, why the business will win, and how it will execute. It then outlines key elements to include such as an elevator pitch, market opportunity analysis, competition analysis, management team details, and financial projections.

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    How To Write A GREAT Business Plan

    Uploaded by

    TheBusinessInsider
    69K views31 pages
    This document provides guidance on how to write a great business plan in 3 steps or less. It explains that great business plans are concise, clear, and explain the value proposition, why the business will win, and how it will execute. It then outlines key elements to include such as an elevator pitch, market opportunity analysis, competition analysis, management team details, and financial projections.

    Original Description:

    From the elevator pitch to financials, what you need to create a stand-out business plan.

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    This document provides guidance on how to write a great business plan in 3 steps or less. It explains that great business plans are concise, clear, and explain the value proposition, why the business will win, and how it will execute. It then outlines key elements to include such as an elevator pitch, market opportunity analysis, competition analysis, management team details, and financial projections.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    69K views31 pages

    How To Write A GREAT Business Plan

    Uploaded by

    TheBusinessInsider
    This document provides guidance on how to write a great business plan in 3 steps or less. It explains that great business plans are concise, clear, and explain the value proposition, why the business will win, and how it will execute. It then outlines key elements to include such as an elevator pitch, market opportunity analysis, competition analysis, management team details, and financial projections.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 31

    Beta

    How To Write A GREAT Business


    Plan

    Henry Blodget
    Co-founder, CEO & Editor-in-Chief,
    Business Insider
    Beta

    What We Know About Business


    Plans
    • We’ve seen a lot of business plans
    – 10 years on Wall Street working with growth companies
    – We run a business plan
    competition with
    hundreds of entrants
    – Startups pitch us
    ideas every day
    • We’ve been through it ourselves
    – Business Insider has raised several rounds of investment
    Beta

    What Makes A Business Plan


    GREAT?
    • The GREAT ones are concise and
    and crystal clear. They explain:
    – WHAT your value-proposition is
    – WHY you will win
    – HOW you will execute your plan

    3
    Beta

    Overview of Today’s Presentation


    • Why do you need a business plan?
    • What goes into a great business plan?
    (Step by step)
    • Quick guide to the elevator pitch
    Beta

    How Important Are Business


    Plans?

    5
    Beta

    Why Bother With A Business Plan


    At All?
    • Forces you to analyze key questions:
    – Market size
    – Existing competition
    – Your value-proposition
    – Realistic assessment of obstacles and challenges
    • Helps you refine idea
    • Helps you raise money
    Beta

    Type Of Plan Depends On Type Of


    Business
    • Capital intensive
    businesses:
    – Require abundant
    planning and risk
    management
    – Ex.: mining,
    manufacturing, food
    services, data centers
    • => Create detailed
    business plan
    Beta

    Type Of Plan Depends On Type Of


    Business
    • Less capital intensive
    – Need to be nimble and adapt
    strategy
    – Excessive planning an
    impediment to agility
    – Ex.: internet start-ups, service
    businesses
    • => Create less-detailed
    business plan
    Beta

    Key Elements Of Your Business


    Plan
    • Elevator pitch
    • Your value proposition: Why will people
    want what you’re selling?
    • Your competition: Why will you win?
    • Your team: How will you execute?
    • Financial projections

    9
    Beta

    Elevator Pitch
    • Concise description of
    your value proposition
    – What your product does and why
    people will want it
    – Less than 30 seconds
    – If you can’t explain your value in
    30 seconds, you don’t know
    what it is
    Beta

    Your Value Proposition


    • What is your product/service and why do
    people want it?
    • NOT a list of features
    • NOT generalities
    • An explanation of
    – WHAT the product/service is
    – WHAT problem it solves, and
    – WHY people will choose it over the competition
    Beta

    Your Value Proposition (Cont.)


    • There are only three ways your
    product/service can win:
    1. It’s better
    2. It’s cheaper, simpler, faster
    3. You will outsell, out-market, or out-execute your
    competition
    • You need to know (and say) which your value
    proposition is
    Beta

    Your Market Opportunity


    • How much of your product or service will you
    sell?
    – Who are your potential customers?
    – How much do they spend?
    – How much share can you get?
    – Sources include census bureau, associations,
    syndicated research, analyst reports
    • How much is spent on your product/service
    and how fast is this spending growing?
    Beta

    Your Market Opportunity: Key Trends


    • Any major changes that will help or hurt you?
    – New technologies, new habits (Britannica vs
    Wikipedia)

    • What forces are driving or slowing down


    growth?

    • If any major risks, ADDRESS THEM


    – Why, despite the changes, will you still win?
    Beta

    Showing Your Market Opportunity


    • Use charts, graphs
    when they tell the
    story better
    – Easier to digest
    – But beware hockey-stick
    charts
    • Investors will not take you
    seriously if you present
    them with silly financial
    graphs
    Beta

    Use Graphs, Charts To Tell Your


    Story

    d ed
    hea
    ’r e
    w e
    e re
    Wh

    16
    Beta

    The Competition: Why Will You Win?


    • What companies are getting your future revenue?

    • Why will people use your product instead?


    – Product differentiation (better or cheaper?), marketing,
    distribution?

    • How, specifically, will you will beat your competitors?


    – Likely the first question from many doubters (friends, family,
    customers, investors) in the first few years

    • How will you keep winning once your competitors adapt?


    Beta

    How Will You Execute?


    • Who are the key members of your team?
    • What will they do?
    • What are your milestones and when will you
    achieve them?
    Beta

    Why Is Your Team GREAT?


    • Describe past accomplishments of senior
    team members
    – Startup experience is helpful and important

    • Your “Management” slide should make


    reader think, “Wow, these people really
    know what they’re doing”
    Beta

    Example: Business Insider Team


    Henry Blodget, co-founder, CEO, and Kevin Ryan, co-founder,
    Editor In Chief.  Prior to co-founding the Chairman. Kevin is CEO of
    company in 2007, Henry was CEO of AlleyCorp, a network of affiliated
    Cherry Hill Research, a consulting firm, Internet companies Kevin has co-
    and a contributor to Slate, Newsweek, founded in the past two years.
    New York, Fortune, NPR, Bloomberg, Prior to AlleyCorp, Kevin was
    CNBC, and other publications. Previously, president and CEO of DoubleClick.
    Henry was the top-ranked Internet analyst
    on Wall Street and the head of Merrill
    Lynch's global Internet research team.
    Julie Hansen, Publisher and COO. Dwight Merriman, co-founder,
    Julie has a decade of experience Technology Advisor. Dwight co-
    monetizing vertical web businesses. founded DoubleClick and served as
    Prior to SAI, she launched the new its CTO for ten years. He co-
    NCAA.com web site at CBS College founded Panther Express and
    Sports. Previously she ran the ShopWiki and is also a board
    magazine-branded web sites at Condé member of the web photo/video
    Nast and built the #1 web site for sharing company Phanfare.
    golfers at Time Inc.
    Paul van de Kamp, VP, Advertising Bridget Williams was most
    Sales. Paul previously was Sr. recently VP of Platform Sales at
    Director, East Coast Sales at Rockyou, startup ad network ShortTail Media.
    Inc., and prior to that, handled Prior to that she handled business
    business development and digital ad development for SharedBook and
    sales at Wired Digital. was sales manager at New York
    Times Digital.

    20
    Beta

    Financial Projections
    • Revenue and expense projections for the next 5 years
    – Driven by detailed (but not ridiculously so) assumptions
    – Revenue = number of products X price
    – Expense = people, rent, stuff, marketing, distribution
    • Avoid over-precision
    • Choose reasonable (not wildly optimistic) assumptions
    • Include a summary page that lays out assumptions
    Beta

    How Much Money Will You Need?


    • Projections should be tied to capital raising
    • Explain how new funds will be used:
    – $200,000 to purchase machinery
    – $20,000 annual hosting costs
    – $40,000 for office computers, furniture, and first
    year rent
    – $100,000 sales and promotion expenses

    • Show how long new cash will last for


    – How much will you require in the future and when?
    Beta

    BONUS: Perfecting The Art Of The


    Elevator Pitch

    A convincing elevator
    pitch is critical

    Don't mess it up
    Beta

    Elevator Pitch: The Hook


    • Goal is to make listener
    want to have a real
    meeting with you
    • Listener will listen for
    30 seconds, max
    • It may not sound fair,
    but that’s all the time
    you’re going to get
    Beta

    Elevator Pitch: What and Why


    • What will your
    company/product
    do and why will it
    win?
    • Be specific
    • Avoid extraneous
    details
    Beta

    Elevator Pitch: ONLY The


    Highlights
    • Do NOT explain how
    your product works on a
    technical level
    • Do NOT talk about a
    huge, growing market
    • You can deal with the
    specifics after the
    listener is interested
    Beta

    Elevator Pitch: What Makes You


    Different?
    • If your product is
    new, explain how
    it fills an unmet
    need.
    • If you're improving
    on an existing idea
    or model, explain
    how you're
    better.
    Beta

    Elevator Pitch: Back It Up With


    Data
    • Demonstrate your
    product's
    awesomeness with
    one or two specific,
    relevant data points
    • Know the data
    that matters to
    investors and
    show it off
    Beta

    Elevator Pitch: The :30 Rule

    Your pitch should


    be under 30
    seconds!
    Beta

    Elevator Pitch: Confidence Comes From


    Practice
    • Confidence is one of the
    most important secrets to
    a killer pitch
    • Confidence comes from
    practice and
    refinement
    • Adapt pitch based on
    experience and feedback
    Beta

    Thank You!

    31

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