The core components of most basic business plans are the same. MAP Momentum uses an easy process to answer critical questions. The business solutions are developed from the answers to these questions. The result is a complete business plan, until it changes, of course. MAP Momentum adds in “a little cream, a little sweetener” by providing additional worksheets and ideas gathered from numerous resources and research over the years.
An overview of the business plan course is shown here. Plan to commit to at least 24 hours of planning each year. This will increase the probability of success in business. Big business does this at least on an annual basis; small business owners often overlook the value of planning before doing.
Trust me, this will save you time and money by committing at least 24 hours a year to writing/re-writing your own business plan.
Overview of Cash
Create a one-page tool to build more cash. We start with the numbers and a twelve-month cash budget as an overview of sources and uses of cash needed in the business; and identify where this cash comes from.
Draft Executive Summary
Complete a first pass of top level business summary. Most business consultants indicate that the Executive Summary is done last. We ask you to take two hours to quickly write an overview at the top level, including each major section.
Identify specific steps on what you do and how you do it. This is the business description, identifying your focus of the what and the how.
Use the “Hedgehog Concept” to identify who your customers are. This is the description of your market and who you serve in your business. Also discussed is what your passion is, what you do best at, and who will pay for what you do.
Distinguish how you are unique and why people should choose you or your product/service. This is the marketing section that helps you evaluate why people are going to choose you versus your competitor(s).
Marketing and Sales Plan
Clarify how you will reach the people with whom you want to connect through your business. This is the section that helps you define the processes used to deliver your products/services, identifying the ways to reach your customers effectively and efficiently.
Describe key factors to use in your business in finding solutions and in meeting the wants/needs of others.
Identify the people and experts in your life in order to implement your plan and exceed your goals. This is the management team section that describes who is on your team and what expertise. Also this session includes an analysis of strengths and weaknesses in the team and what’s missing.
Tailor your business plan by defining future milestones which fulfill your passion. This session describes your vision including your exit strategy, assuming you are not going to live forever!
Begin to make financial changes consistent with your non-financial goals. This is the financial section of the plan, built upon non-financial benchmarks. For example, if your goal is to serve 1500 customers within five years, this session addresses ways to define meaningful goals for time required, average ticket price, cost of services/goods, and market saturation.
Final Executive Summary
Complete the summary of a written business plan to specify your long-term financial and non-financial vision for a fulfilling life in business. This session completes the Executive Summary by refining the original overview completed in Session Two.
Summarize your vision to share your dreams with friends, family, advisors, and benefactors so that they will be the first to know. This session is a presentation to friends and family as well as a lender/investor panel. You will receive written and verbal feedback at this session. This serves as a way to discuss your ideas, now written and organized, so that your friends and family can help you spread the word. You’re in business!