Suggestions for what should be included in the plan
This is a possible outline for a more condensed and simplified business plan. The information in the outline is based on speakers from the Duke Entrepreneurship Education Series (www.DukeDEES.com). This is only a general outline and none of these components may be required. Some sections may not even apply to you depending on the type of business. Follow the outline, answer each questions and fill in only information that applies to your company.
Outline
I. Executive Summary
a. Unmet Need and Solution
b. Market Opportunity
c. Industry Analysis
d. Team
e. Business Model
f. Finances
II. Problem Definition and Solution
a. What is the problem/need that the company is trying to address?
b. What is the company’s solution to this problem/need?
c. How does the solution work?
d. How far along is the solution? What stage of development is it in?
e. Does the company have proof of concept of the proposed solution?
III. Market Opportunity
a. Define the market.
i. What is the market size?
ii. What is the growth rate of the market?
iii. What are key drivers of growth in this market?
b. Why this market?
c. What are risk factors in addressing this market?
IV. Industry Analysis
a. Define the industry in which the company competes.
b. Identify competitors in the company. What are the strengths, weaknesses,
opportunities, and threats associated with these competitors? (SWOT
Analysis)
c. Are their barriers to entry in the industry? How will the company overcome
them?
d. What strategy will the company pursue to achieve profits?
e. Does the company have an intellectual property that will give it a sustained
competitive advantage? If so, does the company have freedom to operate
(i.e.are there any competitors present that have similar patents?)
V. The Team
a. Who are the company’s team members?
i. What is the motivation of the team members?
ii. What is their experience level?
iii. What role does each team member serve in the company?
b. Does the company have an advisory board?
i. Who is on the board?
ii. What roles do they fill?
iii. How involved will the advisory board be?
iv. What resources does the board bring?
c. Does the company have service providers?
i. Does the company employ a law firm?
ii. Does the company employ accountants?
VI. The Business Model
a. What method will the company employ to make money (e.g. service, product,
subscription method)?
b. Who is the company’s target customer?
c. Is the business scalable (i.e. is there a limit to the number of customers that the
business can serve)?
VII. Finances
a. How much is the company worth? What do the 3-5 year projections look like for
the company (e.g. pro forma income statement, balance sheet, and statement of
cash flow)?
b. What do different scenarios of the company look like? What does the company’s
best, worst, and expected financial performance look like?
c. How much cash is needed for each milestone the company wants to achieve?
d. What do comparable firms to the company look like in terms of financial ratios?
Web Resources:
http://www.dukestartupchallenge.org/the-competition/phase-2
Additional Resources
Small Business Administration offers resources on how to write a business plan and starting your own company:
http://www.sba.gov/smallbusinessplanner/plan/writeabusinessplan/index.html
American Express provides advice and tips on the various sections of the plan:
http://www133.americanexpress.com/osbn/tool/biz_plan/index.asp
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