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Developing an Effective Business Plan

Mar 11, 2019

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Developing an Effective Business Plan. Putting the Pieces Together. Discussion Topics. Starting a Business Venture Business Planning Parts of a Business Plan Resources for Small Businesses. Becoming an Entrepreneur. People become entrepreneurs for many reasons.

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Developing an Effective Business Plan Putting the Pieces Together

Discussion Topics • Starting a Business Venture • Business Planning • Parts of a Business Plan • Resources for Small Businesses

Becoming an Entrepreneur • People become entrepreneurs for many reasons. • Entrepreneurs come from all type of backgrounds and industries. • There are advantages and disadvantages of owning your own business. • There are many resources that can help you identify and develop business opportunities.

Starting a New Venture • Determine the products or services you will sell/offer • Determine what type of business you will own • Franchise • Buy an existing business • Create a business from ground up • Create a business plan

Role of Small Business Today • In 2002, there were approximately 22.9 million small businesses in the United States. • Small business employ 99.7% of employers. • Most small businesses are service based. • Women and minority-owned business are growing at a fast rate.

Planning to Own a Business “Begin with the end in mind.” --Stephen Covey, The 7 Habits of Highly Effective People

What is a Business Plan? A written document that describes all the steps necessary in opening and operating a successful business.

Purpose of Business Plan Business plan serves three primary purposes: • Explains the idea behind your business and how your product or services will be produced and sold. • Sets specific objectives and describes how your business expects to achieve them. • Describes the backgrounds and experience of the people who will be running the business.

Importance of Business Plan • Makes you think about all aspects of your business. • May help you secure financing for your business. • Helps communicate your ideas to others. • Serve as a tool for managing your business.

Sections of a Business Plan • Business plans should include some basic information in the following areas: • Executive Summary • History and Background of your idea • Goals and Objectives • Product(s) or Service(s) you will offer • Form of Ownership • Management and Staffing • Sales and Marketing Plan • Financial Plan

Section 1: The Executive Summary • Usually a one page description of the business. • Provides a snapshot or brief overview of the business plan.

Section 2: History & Background • Describes how you came up with your business idea. • May include your business philosophy or mission statement.

Section 3: Goals & Objectives • Your business plan should outline your: • short-term goals • medium-term goals • long-term goals • Describes your vision of where you want your company to be in the future.

Section 4: Products & Services • Describes the industry you will operate in: • External factors affecting your business • Growth potential of the industry • Economic trends of the industry • Describes the location of your business • Lenders want to know exactly where your business will be located because location is often a critical factor in operating a successful business.

Section 5: Forms of Ownership

Section 6: Management & Staffing • People who manage your business are critical to its success. • This section of the business plan should show that you and the employees of your business are highly qualified to run the business.

Section 7: Sales & Marketing Plan • This part of the plan includes the following: • Who are your prospective customers • How large is the market for your product or service • How you plan to enter the market • You should list your company’s advantages over the competition.

Section 8: Financial Plan • Identification of risks associated with your business. • Current and projected financial statements based on projected revenues and expenses. • Funding request and return on investment.

Resources for Small Business Owners • Small Business Development Centers • Provide one-on-one assistance in developing a business plan • Chambers of Commerce • Supports local business owners by hosting training workshops • Small Business Administration (SBA) • Governmental agency concerned with helping small U.S. firms and advocates for small businesses within the U.S. government • Provides financial assistance in the form of loans • Professional Organizations • Young Entrepreneur’s Organization (www.yeo.org): global non-profit organization for today’s leading business owners • National Federation of Independent Business (www.nfib.org): largest advocacy organization representing small and independent businesses in the US.

Creating an Effective Business Plan • Research the Business Plan • Use printed resources to gather information—books, magazines, etc. • Access online resources using the internet. • Seek assistance from resources such as Small Business Development Centers, professional organizations, etc. • Put Your Plan Together • Type your business plan • Include introductory elements such as a cover letter, table of contents, etc.

Key Points • A business plan is a written document that describes what your business will produce/sell and how it will operate. • Writing a business plan will help you to think about all aspects of your business including financing and managing your business. • There are many resources to help you create an effective business plan

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13 Free Business Plan Powerpoint Templates To Get Now

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By Iveta Pavlova

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Are you looking for business plan PowerPoint templates to grab right away and blow your audience away? In this selection, we’ve gathered 12 modern and completely free business plan PowerPoint templates designed according to the latest trends . The templates include everything you need in order to impress your potential partners with your business planning. They are easily editable, certainly memorable, and completely free to download.

You may also be interested in The Best Free PowerPoint Templates to Download in 2022

1. Strategic Business Free Powerpoint Template

An attractive template for Powerpoint made to help you present your business plan and strategies. The template comes with 25 handy slides that can be edited according to your needs. Plus, you have over a hundred business icons and high-quality vector graphics to depict your concepts and ideas.

• 25 different slides
• PPT file format
• 16:9 aspect ratio
• 100 business icons and high-quality vector graphics

2. Voodoo 2.5 Free Powerpoint Template with Animations

• 10 slides in the free version: 5 presentation slides and 5 infographic slides
• a modern, clean business design with smooth animations
• fully editable graphic elements and free fonts
• includes a dark version, as well

3. Investment Business Plan Template for Google Slides & Powerpoint

A minimalist business plan Powerpoint template made in a modern style and a classy grayscale color theme. The template includes 30 different slides with super useful layouts. Pretty much, you’ve got all you need to present your business overview, market analysis and competition, marketing, management, operating, and financial plans, and more.

• 30 different slides for various purposes
• 16:9 widescreen format
• compatible with PowerPoint and Google Slides
• graphics, maps, and over 1000 icons
• attribution is required (in the final slide)

4. Insurance Business Plan Template for Google Slides & Powerpoint

A business plan presentation template is available with versions for PowerPoint and Google Slides. This template is made in a modern corporate style and is suitable for serious topics. With 30 different templates and customizable assets, you can easily include your business overview, present your sales, management, and financial plans, and more.

• 30 slides in a modern corporate style
• PowerPoint and Google Slides compatibility
• graphics, maps, and 1000+ icons for customization

5. Clean Corporate Biz Free Powerpoint Template

A clean Powerpoint template with 10 different slides for professional business presentations. In this short template, you will find all you need to present your business objectives, business plan, key features, and more. Loaded with useful graphs and charts, you will easily visualize your data, as well.

• 10 unique slides with a corporate feel
• 16:9 widescreen layout
• includes charts, graphs, maps, and more

6. A Free PowerPoint Template “Investor”

• a professional corporate design
• 15 free slides in 16:9 widescreen aspect ratio

7. Marketing Plan Free Powerpoint Template

A tastefully prepared business-themed presentation template for Powerpoint in a blue-and-green color scheme. This template is available in two aspect ratios: 4:3 and 16:9. It also contains useful data visualization tools like charts, graphs, tables, and more.

• 26 business-themed slides
• 4:3 and 16:9 aspect ratios
• includes tables, flowcharts, graphs, and more

8. Business Idea Free Powerpoint Template

A rich business plan template consisting of 31 unique and useful slides. The design is available in 27 color schemes, so you can customize it according to your brand. You will find all kinds of charts, graphs, infographic slides, SWOT analysis slides, and more useful content.

• 31 useful slides
• 27 color options

9. “Nook” Minimalist Pitch Deck Powerpoint Template

This template will allow you to make a quick overview of your company and business plan. With 12 attractively designed slides, made in a gold, white, and black color scheme, you will definitely impress with style and modern vision. Easy to edit with high-quality vector graphics included.

• 12 different slides with modern designs

10. Free Simple Business Plan Presentation Template

A simple and practical business plan template suitable for presentations in most PowerPoint versions, Keynote, and Google Slides. The 8 slides included are designed to be useful and effective in presenting your company data. You will find high-quality vector shapes, diagrams, charts, and infographics. The slides are versatile and can serve various purposes.

• 8 slides that can be edited easily
• compatible with PowerPoint, Keynote, Google Slides
• design with modern gradients
• free to download (requires your email)

11. Free ‘Xe’ PowerPoint Modern Business Minimal Template

• 42 unique free slides with a modern, relaxing design
• includes animations, transitions, and video placeholders
• PPTX file format

12. Free Modern Business Powerpoint Template

A two-color design choice of light or dark including charts, maps, diagrams, and other useful slides for multipurpose presentations. a smooth, consistent, well-ordered look.

• Resolution – High 16:9
• Number of slides – 2 color versions of 34
• Color themes – white/light blue or dark/blue

13. Corporate Presentation Free Template

Clean and classic design suitable for presenting your business. The pack has 85 different slides for you to customize and adapt to your brand.

• Auto-animated
• Font file included

That’s all!

Fingers crossed that this collection helped you find the right free business plan Powerpoint tutorial for your needs. With their modern design and fully editable content, you are on the way to success for sure.

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Premium: MultiSplash PowerPoint Templates

A professionally designed PowerPoint template with 77 slides for every type of presentation – report, marketing, educational, product introduction, plans, and more.

• 77 multipurpose presentation slides
• 120 Icons and illustrations included

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Iveta Pavlova

Iveta is a passionate writer at GraphicMama who has been writing for the brand ever since the blog was launched. She keeps her focus on inspiring people and giving insight on topics like graphic design, illustrations, education, business, marketing, and more.

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7 Things You Need to Consider Before Expanding Your Business Use this checklist to navigate the challenges of deciding when to start scaling.

By Maria Cho Edited by Chelsea Brown Dec 18, 2024

Key Takeaways

• Scaling a business requires thoughtful preparation, including securing the right funding, prioritizing strategic spending, validating product-market fit, mastering your pitch and developing an execution plan.
• Business leaders must also prioritize self-care to avoid burnout, which can derail both personal health and business success.

Opinions expressed by Entrepreneur contributors are their own.

For any successful business, deciding when to start scaling is the most challenging time. Just as time cannot stand still, businesses must also keep moving, which means expanding when they are doing well. Put simply, a competitor will step in to fill the gap.

During my journey as a business leader, I have always seen the need for expansion as an excellent problem to have. It is proof and testament that things are going well and that the next stage of the company's evolution already needs addressing. The key is to get ahead of it and plan the expansion. For me, there have been seven key markers.

Related: 7 Common Mistakes to Avoid When Scaling Your Business

1. Secure the right funding

Cash is king, and having it means you get to grow your business. The type of capital you choose should align with your specific business goals. Choose partners wisely, especially early on. Having now been part of two startups with very different experiences, I would say it is important to have like-minded investment partners when looking at equity rounds or growth capital. Are your investment partners really partners, or are they just access to a checkbook? Are they genuinely excited about your mission and vision and want to help you be successful? They will not run your business for you, but they unquestionably come with a breadth of experience in seeing what works and does not work when growing a business.

I always want my investors to stay with the business throughout the entire journey. Venture capitalists have an obligation to realize a return to their investors on a five- to seven-year time horizon, so sometimes, these interests are only aligned with a specific stage of the business.

Never underestimate the vast amounts of non-dilutive capital that are available, such as small business innovation research grants from the U.S. government, charities, high-net-worth individuals and even friends and family.

When considering debt, it is always important to consider your interest rate . Unless you have a sure bet on being able to pay back that loan, debt has priority when a company struggles. The government offers low-interest loans as well for specific types of businesses, which can be attractive depending on your type of business.

2. Prioritize strategic spending

How will you use the funds? Can you self-fund or bootstrap without delaying your timeline? This is a fundamental question that you can not avoid answering. I am often plagued between the balance of being thrifty versus losing speed.

My mother always said: "Don't be penny wise and pound foolish," and this phrase has stuck with me. Spend money if it gets you to your goals faster, and don't if you aren't sure. If the dollar you spend is not generating a 5x return on the value created, don't spend it.

3. Validate product-market fit

Do you have a product-market fit ? If the answer is no, you are not ready to scale. The "build and they will come adage" is false and always has been. You are not building a temple. You are building a business that creates a product people want to buy, so make sure they do.

I always ask: "Does my product offer value to the customer, and are they willing to pay for it?" This applies regardless of whether you're B2B or B2C. Flat sales indicate a need for more traction, and rapid growth is not sustainable. Shoot for smooth and steady growth, and learn what works and what doesn't as proper channels to exploit your business.

Related: 5 Tips for Expanding Your Small Business (The Right Way)

4. Master your pitch

Pitching is an art. Do you have your pitch down? One thing I will never forget reading was that Steve Jobs used to prepare 90 hours for every hour pitch he gave. That is humbling to me. For me, practice is 100% key. Something is wrong if you cannot pitch your business or deliver your pitch even when starving, dehydrated and under the desert sun.

The best business leaders tell a convincing story. Create a compelling traveling story that gets investors, consumers and buyers wanting more and feeling FOMO if they are not taking advantage of it. I have always spent hours and hours refining my pitch, getting better, fine-tuning and trying different words and phrases to see what resonates the most with the listener or audience. You have to crush your pitch, so give it the time it deserves.

5. Develop an execution plan

What's your execution plan? Businesses fail because they run out of money from poor execution. Write it down. Write ... it ... down. The whole thing. This could be on a notepad or a 275-page slide pack — whatever works for you and your team. Follow your plan. Only deviate from your plan when learnings from your execution plan say that you need to make a pivot or try something different. I always follow my plan. Oh, and be patient.

6. Realistic valuation

It is a mistake to get hung up on valuation . We are no longer in the 2021 bubble. So, focus on getting your operating capital and executing your plan. The right investment partners will always make sure that you are taken care of, as they make money if you make money. I always say if your idea and business are impactful, then the money will come.

Related: 5 Strategies to Know As You Scale Your Business

7. Practice self-care

Do not burn out. Burnout is real, and if you are too burnt out after your raise to run your company, what is the point? Practice self-care , do yoga, eat salads, get mani-pedis, go out for cocktails or mocktails with friends. I understand your life is your business, but without you, there is no business. Recharge if and when needed, and step away from your company for a bit. I am the worst at taking this advice, but I promise you, nothing will fall apart if you take a long weekend to visit family or sit on the beach soaking in the sun. Do it for yourself, and your business will reap the dividends.

Following these seven markers, which are not in order or priority but simply as a checklist, should bode well for any successful entrepreneur looking to build an empire.

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CEO of Triplebar

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