BusinessPlanToolKit1ContentsWhatisaBusinessPlanWritingaBusinessPlanBusinessPlansample(tobecomplementedlater)2¶Definitionofabusinessplan¶Theroleofabusinessplaninnewbusinessdevelopmentprocess¶Thesignificanceofabusinessidea¶Developingabusinessidea¶Elementsofapromisingbusinessidea¶Prioritizingabusinessidea¶ProtectingyourbusinessideaWhatisaBusinessPlan3¶DefinitionofabusinessplanAbusinessplanmusthaveadetailedplanforthefollowingeightfactors;1)Product/Service2)MarketandCompetition3)Marketing4)BusinessSystem5)OrganizationandHR6)OpportunitiesandRisks7)ImplementationSchedule8)FinancialPlanningWhatisabusinessplanDevelopingabusinessidea(ideawhichcanmakemoney)intoadetailedplanthatcanbeimplemented4¶RoleofabusinessplaninnewbusinessdevelopmentprocessNewbusinesspromotionstageMethodologyInternalsupportorganizationOnlineIdeaDBIntangibleWorkshopBenchmarking/MegatrendAnalysisBusinessPlanCompetitionStage1Stage2Stage3IdeaGenerationBusinessplanwrite-upImplementationandgrowthIdeaGenerationManagementTeamBusinessPlanDevelopmentTeamInvestmentCommitteeVentureTeam(TFT)WhatisabusinessplanAbusinessplancanbedefinedastheintermediarystagebeforeabusinessideacanactuallybeimplementedasanewbusiness5¶SignificanceofabusinessideaTherearemanydifferentwaystogenerateabusinessidea.Thefollowingarerecommendationstocomeupwithwell-organizedbusinessideas-bestifimplementedatthesametime–IntangibleWorkshop:Holdworkshopstogenerateideastofacilitatecompanyintangibles,asthesignificanceofintangiblescontinuetogrowundertheneweconomy–Benchmarking/MegatrendAnalysis:Studymegatrendsofotherindustriestogenerateideasorconductbenchmarkinganalysis–OnlineIdeaDB:MakeanideaDBonlinetoenablereview/postingofideasasawaytohelpdevelopbusinessideas–BusinessPlanCompetition:HoldbusinessplancompetitionstogeneratebusinessideasWhatisabusinessplan‘Nobusinessidea,nobusinessplan’‘Nobusinessplan,nobusiness’Abusinessideaisthestartofabusinessestablishment.Youmusthavemanycreativeideaswhichcanbetransformedintoabusinessinordertocreatevalue¶Developingabusinessidea6¶Elementsofapromisingbusinessidea–Thekeytosuccessinthemarketplaceissatisfiedcustomers,notgreatproducts.(ex)“Ournewdevicecanperform200operationsperminute.”(X)“Ournewdevicehas25%fewerparts.”(X)“Ournewdevicewillsavethecustomeraquarterofthetime.”(O)–Makevaluepropositionstothecustomer–Presentcustomerswithuniquevalues.ClearcustomervalueMarketofadequatesizeFeasibilityandprofitabilitySufficientdegreeofinnovation1243Whatisabusinessplan◇ClearCustomerValue•Whowillbuyyourproduct/service?•Whyshouldthecustomerbuytheproduct?(Whatneedsdoesyourproductfulfillthatthecompetitorproductscannot?)•Whatismostuniqueaboutyourbusinessidea?KeyQuestions7–Doesthemarketyouplantotargetwithyourproducts/serviceshaveadequatesize(nopreciseanalysisneeded,statisticsorestimatescanbeused)–Knowwhoyourcompetitorsare.ClearcustomervalueMarketofadequatesizeSufficientdegreeofinnovation1243Whatisabusinessplan◇MarketofadequatesizeFeasibilityandprofitability•Whatisthemarketsize?•Isthemarketgrowing?•Whatisyourtargetmarketandmarketshare?•Whoareyourcompetitors?•Whatareyourstrengths/weaknessescomparetoyourcompetitors?KeyQuestions8–Abusinessideashouldhavethefollowingfourelementsaccordingtoproduct/servicetypeandbusinesssystem–-MustspecifywhereinnovationistakingplaceNewproduct(Microsoft)Newindustry(Netscape)ExistingindustryNewbusinesssystem(Dell)BusinessSystemConventionInnovationProduct/serviceConventionInnovationClearcustomervalueMarketofadequatesizeSufficientdegreeofinnovation1243Feasibilityandprofitability◇SufficientdegreeofinnovationWhatisabusinessplan•Howisyourproduct/serviceinnovative?•Howisyourbusinesssysteminnovative?KeyQuestions9–Considerfeasibility(legalconstraints,time/resourcelimits,etc)–Calculateoverallprofitability(simplecashflow,etc)ClearcustomervalueMarketofadequatesizeSufficientdegreeofinnovation1243Feasibilityandprofitability◇FeasibilityandProfitabilityWhatisabusinessplan•Whataretheconstraintsinimplementingyourbusinessidea?•Whyareotherpeoplenotimplementingthiskindofbusinessidea?•Whatisthegrossmarginrateofyourplannedbusiness?•Howmuchinvestmentisnecessary?Howmuchisthevariablecost?Doestheprofitincrease?•Whatistheoverallcashflow?KeyQuestions10¶Prioritizationofabusinessidea-Insearchofakilleridea–Aprocesstoprioritizegeneratedideas–Positioningofideasonthebelowchartbasedonthepotentialmarketanditsfeasibility※KillerIdea:Anideacapableofcreatinganewmarket(ex.walkman,mobilephone,Dialpad,45min.photographprinting,etc.)SeeksolutionsforobstaclesinimplementationImmediatelylaunchbusinessplanwrite-upPostponeSeekwaystoexpandmarketsizeFeasibilityLowHighMarketsize(allowgrowth)LowHighWhatisabusinessplan11¶ProtectingabusinessideaWaysofprotectingabusinessidea–Patenting:Patentingabusinessideatoensurelegalprotection–Confidentialityagreement:Maintainingaconfidentialityagreementwithrelatedpartiesworkingonthebusinessidea–Quickimplementation:ImplementingyourbusinessplanassoonaspossibleWhatisabusinessplanInnovativeideasaretheresultofhardworkandcreativethinking.Itisimportanttoprotecttheideasufficient