Startin' Up
Business Plan vs. Business Model
No Business Plan Survives First Contact With Customers
Business Plans -
- ...are the execution document that existing companies write when planning product-line extensions
- ...are used where customer, market and product features are known
- ...are operations documents that describe an execution strategy for addressing known factors
Most entrepreneurs face a series of unknowns:
- unknown customer segments,
- unknown customer needs,
- unknown market conditions,
- unknown cash flow issues,
- unknown supply chain issues,
- unknown product features,
- etc....
Entrepreneurs are Startup Wranglers
- a startup is a temporary organization designed to search for a repeatable and scalable business model
- the primary objective of a startup is to validate its business model hypotheses
- only after this point does the startup need an operating plan, financial forecasts and other well-understood management tools
Model Your Future...
Business MODEL
- identifies the services that your customers value
-
shows the funds received for the services your small business
renders -
explains the flow of money within
your small business
Business PLAN
- provides the details of your business
- explains the equipment, supplies, staff etc. you'll need to meet the details of the business model
- explains the structure needed to obtain that flow of money
Typical Business Plan Outline
- Executive Summary
- Business History, Background and Objectives
- Business Environment
- Products and/or Services
- Present Market
- Competition
- Marketing Plan
- Management and Organization
- Business Resources
- Financial Plan
- source: www.sba.gov
The Business Model Canvas
Resources
-
This presentation:
https://slides.com/bluetechinitiative/business-model-review - The Business Model Fiddle - create you own Business Model online: http://bmfiddle.com/tour.html
-
Business Model Canvas explained:
https://youtu.be/QoAOzMTLP5s
About Cornell Green
Cornell Green is an IT Services professional with over 22 years of experience with such firms as Lehman Brothers and Paine Webber.
Since 2010, Mr. Green has been an independent consultant, working with NYC-based Small Businesses, helping them leverage the power of technology.
About BTI
Blue Tech Initiative - BTI - is a consortium of NYC-based IT Services companies united in the spirit of "co-opetition".
These three business: CommunIT Solutions, Openchoice IT and Gotcha Techs Harlem join together to provide effective solutions for New York's Small Business community