Starting a business and writing a business plan European Doctoriales, Ventron, France

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1 Starting a business and writing a business plan European Doctoriales, Ventron, France H. Grünhagen 17. Oktober 2011

2 Holger Grünhagen Gründungsbüro der TU & FH Kaiserslautern gruendungsbuero.info 2

3 3

4 1. Introduction 2. How to start a business? 3. How to write a business plan? 4

5 I am talking about lessons learned and best practice from our daily business at the Gründungsbüro: academic start-ups business foundations in south-west Germany (Kaiserslautern, Zweibrücken, Pirmasens) 5

6 Starting a business Running a business Idea Model Plan Roadmap Start Stabilisation Crisis Expansion 6

7 How to start a business? 7

8 Idea Model Plan Roadmap Human Resources (HR) Product Business 8

9 Idea Model Plan Roadmap Human Resources (HR) HR-Idea HR-Model HR-Plan HR-Roadmap Product Product-Idea Product-Model Product(ion)- Plan Product(ion)- Roadmap Business Business-Idea Business-Model Business-Plan Business- Roadmap What? How? How? When & where 9

10 What 1. kind of foundation (solo or team)? 2. personal (hard- and soft-) skills of the founder(s)? 3. kind of network? Idea Model Plan Roadmap HR Product Business 10

11 How to 1. integrate the required actors? 2. assign the tasks? 3. make them happy? Idea Model Plan Roadmap HR Product Business 11

12 How to 1. build the management team? 2. create an organizational structure? 3. specify the relevant positions? Idea Model Plan Roadmap HR Product Business 12

13 When & Where 1. When the actors are needed? 2. Where the actors can be found? 3. How to get them on track? Idea Model Plan Roadmap HR Product Business 13

14 What 1. is your product? 2. makes your product unique? 3. kind of protection is gettable? Idea Model Plan Roadmap HR Product Business 14

15 How to 1. do a feasability study -> prototype -> proof of concept? 2. establish the procurement and production? 3. guarantee a quality standard? Idea Model Plan Roadmap HR Product Business 15

16 How to 1. define the exact final product? 2. describe the production process? 3. calculate the output of the production process? Idea Model Plan Roadmap HR Product Business 16

17 When & Where 1. When the product can be sold? 2. Where the product can be sold? Idea Model Plan Roadmap HR Product Business 17

18 What 1. is the economical potential? 2. kind of competition is in the market? 3. are the main players? Idea Model Plan Roadmap HR Product Business 18

19 How to 1. generate a value for the customer (value proposition)? 2. generate that value (value chain)? 3. earn money (revenue model)? Idea Model Plan Roadmap HR Product Business 19

20 How 1. plausible is the whole plan? 2. does the value chain work? procurement > production > sales > service 3. much money earn the investors? Idea Model Plan Roadmap HR Product Business 20

21 When & Where 1. Where are you now? 2. Where do you want to go? 3. When do you start? Idea Model Plan Roadmap HR Product Business 21

22 How to write a business plan? 22

23 A business plan is a living blueprint for your business, is never finished because you're always revising it, reviewing it, and building upon it, helps you navigate and manage your company, helps potential investors, partners, lenders, and others to understand your business. More important than having a plan is the business planning process! 23

24 Reasons to write the plan: 1. Who is the reader of the business plan? 2. What do you want from this reader? 3. What is the benefit for that reader? 24

25 Index: 1. Executive Summary 2. Founder s biographies 3. Product/Service 4. Marketing 5. HR & Organisation 6. Strength-Weaknesses-Opportunities-Threats 7. Finance 25

26 1. Abstract of the business plan (1-2 pages). 2. Summarising the details of the business proposal. 3. Must pique curiosity! 26

27 1. Background of the management team. 2. Relevance of that background for the business goals. 3. Their contribution to reduce risks. 27

28 1. What you are selling? 2. Your unique selling proposition. 3. Possible protections. 28

29 1. Knowledge about the target market. Kind of market, market potential 2. Marketing mix product, price, promotion, place 29

30 1. Human Resource strategy 2. Organizational structure 30

31 1. Strength 2. Weaknesses 3. Opportunities 4. Threats 31

32 1. Financial forecast with spreadsheets. = quantitative interpretation of all previous sections 2. Time horizon: 3 years 3. Must be plausible and realistic! Scenarios: worst-case, best-case, probable-case 32

33 Gründungsbüro TU & FH Kaiserslautern Coaching Network Idea Model Plan Roadmap 33

34 There is nothing more powerful than an idea whose time has come. 34

35 JUST DO IT 35

Guidelines for Preparation of a Business Plan

Guidelines for Preparation of a Business Plan These notes are provided as a guide for preparation and submission of a Business Plan detailed presentation of a project, business venture or technology development,