Components of a Business Plan.ppt

Components of a Business Plan Jill Kline Wyoming SBDC Wyoming SBDC Strengthen Wyoming businesses and create economic growth by providing excellent management assistance, educational programs and helpful resources for Wyoming small businesses and entrepreneurs. WSBDC Contacts Region I: Bill Ellis(307) 352-6894 Toll Free in WY 800-348-5205e-mail: bellis@Serving Sublette, Lincoln, Uinta, and Sweetwater counties. Region II: Robbi Welch (307) 754-2139 Toll Free in WY 800-383-0371Fax: (307) 754-0368e-mail: director@Serving Park, Big Horn, Washakie, Hot Springs, Fremont, and Teton counties. Fremont County Office: Margie Rowell(307) 857-1174 Toll Free in Wyoming 800-969-8639 e-mail: wsbdc@ Region III: Leonard Holler(307) 234-6683 Toll Free in WY 800-348-5207e-mail: sbdc@Serving Converse, Natrona, Niobrara, and Platte counties. Why develop a Business Plan? “All the work you do in thinking up your idea, testing it, studying it, and producing it, has been for nothing if you can’t sell it. Whether you start you own business to produce and sell your invention, subcontract out the manufacturing part, or sell your rights in return for a percentage of the proceeds, you need a business plan.” - Pamela Riddle Bird, PhD, Inventing For Dummies CEO, Innovative Product Technologies, Inc. Why develop a Business Plan? “Youve just come up with an idea. What to do next? There is no exact order of what you should be doing. But we like to suggest two broad areas for inventors to embark on. First, learn all you can about running a business, even if you hope to license your idea. Second, write a business plan. Even if you hope to license your idea, (and thats actually a rarity among the successful inventors weve met) youll still need to have a plan.” - Mark Ellwood, Past UIA Board of Directors Why develop a Business Plan? Three Types of Plans Summary Plan 10 pages, 3 important points Comprehensive Plan 10-40 pages, seeking capital or alliances Operatio