BUSINESS PLAN WORKBOOK

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Nov 18, 2013 (3 years and 9 months ago)

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Use this workbook to build your own plan

BUSINESS PLAN WORKBOOK

Download & print the workbook.

Select the “download” button
below the player to get your workbook, then print it to use in the course.


Read each topic in the online course.

The online course gives
instructions and examples for all the topics to cover in your plan.


Write your answers for each topic in your workbook.
When
you see “Create your slide” in the course, open your workbook to the
corresponding topic and write your answers to the questions into your
workbook. Try to work quickly to capture what you know and not get
caught up on wording


you can fill in the gaps and polish your plan later.


Create your business plan “deck”.
When you’ve finished your
workbook, use it to build a
Powerpoint

“deck” of your plan so you can
share it with others and get feedback on your plan. There’s a
Powerpoint

template you can download and use at the end of the course.


Get help if you need it.

Request
help from an UpStart coach

(
coaching@upstartbootcamp.com
)
. An UpStart coach can help you dig
into a topic, format your plan, assess your plan, provide pitch coaching,
and more!

Business Plan Workbook,
© UpStart Bootcamp

Business Plan Workbook

1

Use this workbook to create your own business plan

1

Goals

2

Revenue?

How much revenue do you
expect to generate in your fifth year? (Note: If
you haven’t run projections yet, start with your
gut feel


e.g. annual revenue of $1M? $5M?
$10M?)


Returns?

If you plan to take on investors,
how do you expect to give them liquid
returns? (e.g. Selling the company, issuing
dividends, or taking the company public)


Soft goals?

What if any “soft” goals do you
have? (e.g. Being recognized as the leading
authority in your business niche, doing
something good for the world, or helping your
customers reach their goals)


Internal goals?

Do you have any internal
goals you want to record, but not share with
outsiders? (e.g. establish a track record of
success as a founder, run your first business,
pay yourself $X per month within Y months)

1

The questions

Business Plan Workbook, © UpStart Bootcamp

Revenue:







Returns:






Soft goals:







Internal goals:






Your answers

Environment

3

Industry?
What industry is your business in?



Size?
How big is this industry?



Growth?
How fast is it growing?



Trends?
What trends are driving change in
your industry


in a way that’s relevant to your
business?

2

The questions

Business Plan Workbook, © UpStart Bootcamp

Industry:




Size:




Growth:




Trends:






Your answers

Customers

4

Early adopters?

Who are your early
adopters?



Total addressable market?
If you sold
your product to every one of your potential
customers, how much revenue would you
generate in one year?



Needs?

What specific needs are shared by
nearly all of your early adopters?



Behaviors?
What behaviors or other factors
let you identify your early adopters clearly?

3

The questions

Business Plan Workbook, © UpStart Bootcamp

Early adopters:





Total addressable market:







Needs:





Behaviors:






Your answers

Unmet Needs

5

Unmet needs?
What are the unmet needs
of your early adopter customers?




Importance?
Why are these unmet needs
important to your early adopters?




Proof?
How do you know? What objective
proof do you have to support your arguments?

4

The questions

Business Plan Workbook, © UpStart Bootcamp

Unmet needs:






Importance:






Proof:










Your answers

Strategy

6

For






(your specific target customer)








(
your product name or brand)



is the





(
definition of the product or service you offer)



that



.



(unique benefits you’ll provide to customers)



You’ll make money from

.



(
your primary revenue stream)

5

Fill in the blanks!

Business Plan Workbook, © UpStart Bootcamp

Analog

7

Comparable?
Name one or more
companies that are similar to yours in terms of
the customer needs they address, the way they
reach customers and/or their revenue streams.
Explain how the analogs are relevant.



Learnings?
What tips can you glean from
understanding what worked and what didn’t
work at your analogs?



Shorthand?
Is there an accurate way to
describe your company as the “this of that”?

6

The questions

Business Plan Workbook, © UpStart Bootcamp

Comparable:








Learnings:






Shorthand:







Your answers

Offering

8

Minimum viable product?
Describe or
show your minimum viable product in a way
that’s easy for an outsider to grasp quickly.


Example?
Include one of the following:



A short product demo



A chart showing your product mix



A chart with features and benefits



A before/after customer case study

7

The questions

Business Plan Workbook, © UpStart Bootcamp

Minimum viable product:





Example:
















Your answers

Marketing

9

Sales or marketing?
Will you focus on
attracting customers via sales (e.g. phone or
in
-
person selling


usually for expensive
offerings), or marketing?


Direct or indirect?
Will you market to
customers directly, or via intermediaries (e.g.
retailers, distributors, or marketing partners). If
the latter, what types and which ones?


Method?
Which of the following will be your
top two methods for attracting customers?



Free “inbound” marketing (e.g. Facebook, Twitter,
blogging, search engine optimization)


Paid “outbound” advertising (e.g. print, email, radio, TV,
banner, online video, mobile, trade shows)


Search engine marketing (e.g. buying Google keywords)


Marketing partnerships (e.g. revenue sharing, pay per
lead, cost per click)


Paid public relations (e.g. hiring a PR firm to generate
press coverage)


Wholesale / retail relationships (e.g. sell your juice through
a supermarket)

8

The questions

Business Plan Workbook, © UpStart Bootcamp

Sales or Marketing:






Direct or indirect:





Method:










Your answers

Business Model

10

Marketing efficiency?
If you sell directly to
customers (i.e. not through a retailer), what will
it cost you to acquire an average customer?
How much margin (revenue less cost of goods
plus sales costs) will an average customer
generate the lifetime of your relationship with
them?



Breakeven?
Whether or not you sell directly
to customers, how many customers will you
need to reach breakeven, and when do you
expect that to happen?





9

The questions

Business Plan Workbook, © UpStart Bootcamp

Marketing efficiency:










Breakeven:











Your answers

Team

11

Team?
Who is on your founding team? What
are the roles for each founder, and why are
they qualified?




Gaps?

What are the major gaps in your
founding team, and what’s your plan for filling
them?




Advisors?

Who are your advisors, how will
they help you, and why are they qualified?





10

The questions

Business Plan Workbook, © UpStart Bootcamp

Team:







Gaps:






Advisors:







Your answers

Risk

12

Risks?
What risks do you face? Development
risks? Adoption risks? Marketing risks?
Competitive risks?







Mitigation plans?
How will you manage
these risks?









11

The questions

Business Plan Workbook, © UpStart Bootcamp

Risks:










Mitigation plans:










Your answers

Progress

13

Team?
How close are you to having the team
you’ll ultimately need? To demonstrate traction,
show that you have secured key players on that
team, including advisory board members.


Product?
Product development can be risky.
If you have a prototype, or market
-
ready version
of your product, make that clear.


Customers?
One of the best signs of
progress is to show that customers are willing to
buy your products. If you can show that, by all
means do it here. If not, try to show that
customers will use your product for free, as with
a free trial or beta test.


Marketing plan?
If you are interacting
directly with customers, you’ll need to prove that
the lifetime value of your customers exceeds
your cost of acquiring those customers. Early
test
-
marketing campaigns can be helpful. If you
will reach customers through intermediaries, get
deals or orders lined up.

12

The questions

Business Plan Workbook, © UpStart Bootcamp

Team:






Product:




Customers:







Marketing plan:



Your answers

Implementation

14

Phases?

What will you do over the next three
months (“quarter”), and the three months after
that?








Goals?
What are your goals for each of these
phases?



13

The questions

Business Plan Workbook, © UpStart Bootcamp

Phases:











Goals:








Your answers

Projections

15

Capital requirements?
Predict the amount
of capital you’ll need to get the company
through your next twelve months, and the
following four years.


Scale?

Have a ballpark prediction for what
your annual revenue will be after five years.
You’ll never get the number right, but you
should be able to predict the order of
magnitude (e.g. are you shooting for sales of
$1M? $10M? $100M?)


Use of proceeds?
If you raise money, how
you plan to spend it, broken down by expense
category (e.g. staffing, marketing, rent, etc.)?


Breakeven?
You should have a prediction
for when your business will reach break
-
even,
or profitability, on a monthly basis. Also, predict
how many units you’ll need to sell per month in
order to break even, so you’ll have a sales
target to shoot for.

14

The questions

Business Plan Workbook, © UpStart Bootcamp

Capital requirements:






Scale:







Use of proceeds:




Breakeven:




Your answers

Financing

16

Capital requirements?
Explain how much
you need from your investors now, and
whether you’ll need more in the future.


Use of proceeds?

Tell investors what you’ll
use their money for, and where it will get you
(i.e. what milestones you’ll shoot for).


Exit strategy?
Investors also need to know
how
-

and when


they can reasonably expect
to get a return on their capital. In most cases,
that will happen when you sell the company
(unless you plan to issue dividends). While you
can’t predict this with much accuracy, it’s
helpful for investors to understand your
intentions. A good way to do this is to look at
recent acquisition activity in related markets.
Be sure to consider why companies made
acquisitions, and how they valued target
companies.

15

The questions

Business Plan Workbook, © UpStart Bootcamp

Capital requirements:





Use of proceeds:




Exit strategy:












Your answers