麻省理工学院商业计划书讲义纲要.ppt

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1、麻省理工学院商业计麻省理工学院商业计划书讲义纲要划书讲义纲要Why Should You Be Here?-14th Year,1,600 to 2,000 people,Multiple companies started-Who Am I?-Why Do We Do This Course?-Who Should Take This Course?-Who Is In The Audience?-Take This Course For CREDITThe Nuts and Bolts of Business PlansThe Nuts and Bolts of Business Plan

2、sCourse InformationMIT Course 15.975 http:/entrepreneurship.mit.edu/15975/3 Credits Pass/FailClass Attendance RequiredWritten Requirement-Executive Summary or-Analysis of Business PlanThe Nuts and Bolts of Business PlansWe Want You To SUCCEED-Jorge Bravo,TA 15975-tamit.edu-Krisztina Holly,$10K and$5

3、0K Winner,Executive Director of the Deshpande Center-Joost Bonsen,Former$50k Entrant,Lead Organizer,Television Personality-Yonald Chery,Course 6,$50K Finalist,Founder of Virtual InkThe Nuts and Bolts of Business PlansKrisztina HollyJanuary 2003The Nuts and Bolts of Business PlansWorthy IAP Entrepren

4、eur Events(This Week)Wed 1/22 10a-12n 2-105:Fostering Innovation w/Prof Vander Sande,American Superconductor(plus bustour)Weekly Wed Muddy 8p+(AgeID)Thurs 1/23 4p Lobby 13:Deshpande$50K DinnerFriday 1/24 1-5p Wong e51:SEBC Technology&Entrepreneurship Forum&VentureFestJanuary 2003The Nuts and Bolts o

5、f Business PlansWorthy IAP Entrepreneur Events(Next Week)Mon 127 10a-12noon 4-231:Fostering Innovation w/Sherwin Greenblatt,VMS(and former BOSE President;also a bustour)15.976 Starting&Running High Tech Co every afternoon 2:30-5pWeekly Wed Muddy 8p+(AgeID)JazzLink Thurs 1/30 6p Walker(AgeID)Charm Sc

6、hool Friday;-)January 2003The Nuts and Bolts of Business PlansYonald CheryA Brief Introduction to Virtual InkJanuary 2003The Nuts and Bolts of Business PlansCourse Schedule6:30pm to 8:30pm Room 10-150BUSINESS PLAN BASICS-Tuesday,January 21TECHNOLOGY STRATEGY;MARKET IDENTIFICATION Wed,January 22SOLVI

7、NG THE WEAKEST LINK,SALES-Thursday,January 23*LEGAL ISSUES;PRESENTATION SKILLS-Monday January 27BUSINESS MODELS;FINANCIAL PROJECTIONS-Tuesday,January 28FINANCING SOURCES;EXECUTING THE PLAN -Wed,January 29*In conjunction with the MIT Enterprise Forum Satellite Broadcast-7:00pm-9:00pm in Kresge Audito

8、riumJanuary 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICS The Business Plan-A SUPPORTED VISIONTechnologyIntellectualPropertyMarketAnalysisCompetitiveAnalysisSales andDistributionTeamFinancialProjectionsDetailedSupport/FoundationFull Business PlanPowerPoint PresentationExecut

9、ive SummaryElevator SpeechMission Statement 1 paragraph30 seconds2-5 pages10-15 minutes20-30 pagesJanuary 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICSWhy Write A Business Plan?What Should Be In A Business Plan?The Business Plan As A Financing DocumentWhat We Will Discuss To

10、day:January 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICSBecause I have to.Needed for financingStrategic partneringTo explain business to customers/suppliersTo attract key peopleWhy Write a Business Plan?January 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN

11、 BASICSBecause I Need to Understand My BusinessThe Business Plan is a result of a PLANNING PROCESSWho are your customers?Why will the buy your service or product?What will they pay?How will you make and deliver the service/productWhat resources(people,money,technology)will you need?Can you make mone

12、y/create value?Why Write a Business Plan?January 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICSTypes of PlansOperational plansExternal plansSummary PlanFull Business PlanWho should write the Plan?CEO alone?The team?A hired writer/consultant?January 2003The Nuts and Bolts of B

13、usiness PlansBusiness Plan TargetingAudienceIssues to EmphasizeIssues to De-emphasizeLengthInvestorFast growth,potential large market,management teamAssets20 40 pagesStrategic PartnerSynergy,proprietary productsSales force,assets20 40 pagesBankerCash flow,assets,solid growthFast growth,hot market10

14、20 pagesLarge customerStability,serviceFast growth,hot market20 40 pagesKey employeesSecurity,opportunityTechnology20 40 pagesMerger&acquisitionPast accomplishmentsFuture outlook20 40 pagesExcerpted from:Gumpert,David E.,How to Really Create A Successful Business Plan,INC Publishing 1990January 2003

15、The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICSWhat Should Be In A Business Plan?Size/Packaging Of The PlanAvoid the 3 thick binderSeparate binding of Executive Summary?How to bind?staplespiralVelabindAccubinderAppearance should be professional but not overly slickJanuary 2003The

16、Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICS What Should Be In A Business Plan?The Plan is a SELLING DOCUMENTDont lose sight of the visionThe excitement must come throughThe Plan should project your imageBUT:The Plan Must Be DefensibleJanuary 2003The Nuts and Bolts of Business Plan

17、sSESSION 1:BUSINESS PLAN BASICS What Should Be In A Business Plan?Elements of a PlanExecutive SummaryThe Opportunity and the Company and its Services/ProductsMarket Research/AnalysisEconomics of the BusinessMarketing PlanDesign and Development PlanManufacturing and Operations PlanManagement TeamSche

18、duleCritical Risks,Problems and AssumptionsThe Financial PlanAppendicesNotice That“Technology”Is NOT A SectionJanuary 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICS What Should Be In A Business Plan?Cover PageName of CompanyAddressTelephone/fax/emailConfidentiality legendSecu

19、rities law legendControl numbering of copiesJanuary 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICSCONFIDENTIALThis Business Plan has been prepared by Virtual Ink,a Delaware Corporation.It is being delivered,subject to prior execution of a Confidential Disclosure Agreement,to

20、a limited number of parties who may be interested in investing in Virtual Ink Corporation.The sole purpose of this Business Plan is to assist the recipient in deciding whether to proceed with a further investigation of Virtual Ink,Corporation.While Virtual Ink Corporation believes that the financial

21、 and other information contained herein is accurate,Virtual Ink Corporation expressly disclaims any and all liability for express or implied representations or warranties contained in,or for omission from,this Business Plan,or any other written or oral representations and warranties which may be mad

22、e to the investor in a Stock Purchase Agreement when,as and if one is executed,and subject to such limitations and restrictions as may be specified in such Stock Purchase Agreement,shall have any legal effect.This Business Plan shall not be photocopied,reproduced or distributed to others at any time

23、 without prior consent of Virtual Ink Corporation.It has been prepared for informational purposed related to this investment opportunity only and upon the express understanding that it will be used only for the purposes set forth above.Upon request,this recipient will promptly return all material re

24、ceived from Virtual Ink Corporation(including this Business Plan)without retaining any copies thereof.In furnishing this Business Plan,Virtual Ink Corporation undertakes no obligation to provide the recipient with access to any additional information.cThis confidential Business Plan is the property

25、of Virtual Ink Corporation and contains proprietary information belonging to Virtual Ink.It is submitted for the sole and confidential use of the person named below.No part hereof may be reproduced,distributed or used for any other purpose.This copy must be returned to Virtual Ink upon request.This

26、confidential Business Plan does not constitute an offer of securities for any purpose.Copy No._ For:_January 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICSWhat Should Be In A Business Plan?Table of ContentsPut one inInclude page numbersJanuary 2003The Nuts and Bolts of Busine

27、ss PlansSESSION 1:BUSINESS PLAN BASICSJanuary 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICS What Should Be In A Business Plan?Executive SummaryAn Executive Summary isNOT an abstract of the planNOT an introductionNOT a prefaceNOT a random collection of highlightsAn Executive

28、Summary IS the Business Plan in miniatureJanuary 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICS What Should Be In A Business Plan?-Executive Summary(continued)SizeTwo pages(preferable)to five pages(max)The Executive Summary must beLogicalClearInteresting/ExcitingThe Executive

29、 Summary is like a RESUMEIf it gets the readers attention,the rest gets readThe Elevator Speech is to the Exec Summary as the Exec Summary is to the Full PlanJanuary 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICS What Should Be In A Business Plan?-Executive Summary(continued)

30、The Executive Summary tellsWho you areWhat your strategy/vision isWhat you are doing and/or propose to doWhat is the marketHow many$do you need and what will you do with themWhat your SUSTAINABLE COMPETITIVE ADVANTAGE isWhen the reader is finished he or she should be able to tell someone what you ar

31、e up to.January 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICS What Should Be In A Business Plan?-Executive Summary(continued)The Executive Summary Should Contain:Description of the Business Concept and the BusinessThe Opportunity and StrategyThe Target Market and Projections

32、The Competitive AdvantagesThe Economics,Profitability and Harvest PotentialThe TeamJanuary 2003The Nuts and Bolts of Business PlansJanuary 2003The Nuts and Bolts of Business PlansThe Virtual InkExecutive SummaryJanuary 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICS What Shoul

33、d Be In A Business Plan?The Body of the Plan-The OpportunityWhat is the Market/Opportunity?How big is it now?What are the trends-how fast is it or will it grow?Why Is This Time The Right Time For Your Product/Service?Convergence of Opportunity and SolutionJanuary 2003The Nuts and Bolts of Business P

34、lansSESSION 1:BUSINESS PLAN BASICS What Should Be In A Business Plan?-The Body of the PlanMarket AnalysisExisting and planned products in marketplaceMarket segmentsMarket players/competitionCompetitive AdvantagesEstimated Market SharesCurrent PlayersYouJanuary 2003The Nuts and Bolts of Business Plan

35、sSESSION 1:BUSINESS PLAN BASICS What Should Be In A Business Plan?-The Body of the PlanEconomics of BusinessWhat Are Your:Expected Gross and Operating MarginsProfit potential and erosionFixed,variable and semivariable costsMonths to breakevenMonths to Cash Flow PositiveJanuary 2003The Nuts and Bolts

36、 of Business PlansSESSION 1:BUSINESS PLAN BASICS What Should Be In A Business Plan?-The Body of the Plan Marketing PlanWhat is your Marketing Strategy?Pricing and DistributionPricing and margin erosionDistribution must match strategy/pricingSales TacticsWho will be the first customer,second customer

37、 etc.?How will you reach the customer?Advertising and PromotionJanuary 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICS What Should Be In A Business Plan?-The Body of the Plan Development PlanWhere is development today-product statusWhat development is needed?Time and resources

38、 needed for developmentDo you have to produce a complete product to get going?Avoid“Nuclear Fusion”Difficulty and RisksProduct Pipeline PlansJanuary 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICS What Should Be In A Business Plan?-The Body of the Plan The Development Plan(con

39、t)Intellectual PropertyDo you have patents?How broad is your intellectual property protection?How do you compare to your competitors?Other technologies?Proprietary RightsDo prior employers have rights?January 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICS What Should Be In A

40、Business Plan?-The Body of the Plan Manufacturing and Operations PlanOperating CycleGeographical LocationFacilities neededStrategy and Plansoutsourcing vs.in-houseRegulatory and Legal issuesFDAEnvironmentalJanuary 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICS What Should Be

41、In A Business Plan?-The Body of the PlanThe TeamThe Internal TeamBackground of principalsHow long has the company been in operation?The External TeamBoard of DirectorsAdvisory BoardProfessional AdvisorsDont“name drop”if the external person has not agreed to be mentionedJanuary 2003The Nuts and Bolts

42、 of Business PlansSESSION 1:BUSINESS PLAN BASICS What Should Be In A Business Plan?-The Body of the PlanAction PlanWhat Will You Do and When?Identification of“Credibility Testers”Sequencing to build VALUEEliminate or Reduce DependenciesCoordination of Schedule,Value Recognition Events and Financing

43、RequirementsJanuary 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICS What Should Be In A Business Plan?-The Body of the PlanRisk Factors and Critical AssumptionsBe sure to address Negatives as well as PositivesThere are always negatives/problemsSet the stage for the readerShow

44、that you have a plan for getting around or minimizing the negativesReduce Dependencies If PossibleJanuary 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICS What Should Be In A Business Plan?-The Body of the PlanThe Financial PlanActual Income Statements and Balance SheetsPro For

45、maIncome StatementsBalance SheetsCash Flow StatementsBreakeven ChartAssumptions should be statedGet these right or defensibleJanuary 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICS What Should Be In A Business Plan?-The Body of the PlanThe Financial Plan(cont.)SpreadsheetitisD

46、o numbers balance?Do the numbers tie to the PLANCASH IS KING C I M I T Y MUse traditional financial statement presentation Now is NOT the time to invent new methods of presentationGet help if you arent expertTie to rounds of financing/expansionJanuary 2003The Nuts and Bolts of Business PlansSESSION

47、1:BUSINESS PLAN BASICS What Should Be In A Business Plan?AppendicesSeparately Bound VolumeResumes of PrincipalsProduct LiteratureTrade Press/Business PressPatents(front page)Testimonials LettersTechnical InformationConfidentialityTechnical person to technical person discussionJanuary 2003The Nuts an

48、d Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICSFine Tuning/Targeting the PlanHave an Independent Reader Review the PlanOne or more independent readers for feedback:Retired industry pro?Customer(?)Consultant?Professor?Accountant-yes definitelyLawyer-yes definitelyJanuary 2003The Nuts and Bolt

49、s of Business PlansSESSION 1:BUSINESS PLAN BASICSThe Business Plan As A Financing Document(Excerpts From Materials Prepared By Lita Nelsen,Director of MIT Technology Licensing Office)A.First Reading:Like a ResumeMake The Cut,So That You Get An Opportunity To Tell Your StoryB.Second Reading:Justify T

50、he InvestmentC.Third Reading:Commit To A Plan That You And The Investors Can Live With.REMEMBER:If you dont make the FIRST CUT,B and C never happen.January 2003The Nuts and Bolts of Business PlansSESSION 1:BUSINESS PLAN BASICSThe Business Plan As A Financing DocumentMAKING THE FIRST CUTAn Idea Too G