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Conference Co-Chairs: Doug Riddle, Wachovia Corporation Grace Ueng, Savvy Marketing Group Conference Co-Chairs: Doug Riddle, Wachovia Corporation Grace Ueng, Savvy Marketing Group Setting a goal is not the main thing. It is deciding how you will go about achieving it and staying with that plan. – Tom Landry “Its not the plan that is important, its the planning.” - Dr Graeme Edwards * Management Background – Highlight critical, relative past accomplishments of each key management team member (including critical advisors, if they add value – open markets/ access to important customers, provide unique technological/ scientific insight, etc) Organizational Structure – Describe management positions and link qualifications to the position; highlight responsibilities and key performance metrics; describe critical management needs and plans to address those needs * Creating a Winning Business Plan October 20, 2004 Fuqua School of Business Duke university Contents What do we mean by ‘Business Plan’ Components of a typical business plan Conference Co-Chairs: Doug Riddle, Wachovia Corporation Grace Ueng, Savvy Marketing Group What do we mean by ‘Business Plan”? The fundamentals of your business idea How you intend to start, structure and grow an idea as a business How the business will make money (for a profit or not for a profit) Does every startup need a Business Plan? Failing to plan is planning to fail – Anonymous (proverb) The components of a comprehensive business plan Executive Summary The Business, Products and Services The Market The Competition Marketing and Sales Plan Management and Organization Risks Financials Executive Summary Highlight the most important points of your business that will convince potential investors/ partners that your venture will succeed Business Purpose Market: Customer issue that will be addressed Competitive Advantages Marketing and Selling – what compels people to buy; how you will address Management, structure and respon