How to write a business plan & succeed in

business- Alex Genadinik

- Brief bio- Business planning- Actually starting and succeeding (really

different from planning)- Q&A

How this presentation is structured

- Helped 1000s of people, reached millions- One of the top books, courses, apps,

coaching on planning --> starting a business

- Successful in my own business- Passion that arose from my own mistakes- Love helping entrepreneurs

Brief bio

- An expression of your plan of action for your business

- A way to organize your strategies- What makes it good is the quality of the

strategies, not form or the template

What is a business plan?

- Use the plan to express an overall good business model

Use it to express a good business

- Product- Marketing - Finances

Simplest 3-tier business plan

- If someone or some organization you want to work with asks for it

- Whenever you get a business idea. It helps you to organize your thoughts and strategies

When should you write one?

- Let’s go through the sections one by one just as you would write them

Real Business Plan Template

- 1-2 introduction paragraphs, a synopsis to what the reader will read

Executive Summary

- Make it clear to the reader what your product or service will be.

- A business app? An Italian restaurant? A complex high-tech start-up? What will that start-up do?

- UNIQUE? DIFFERENT? WHY IS IT NEEDED?

Explain your product/service

- Explain how far along you are in growing your business

- Are you in planning stages? Or do you have a website? Revenue? Customers? Profits? Growth?

Progress and traction

- No, it is not everyone :)- What group is your product/service

mostly for?

What is your target market?

- Do you know how big your market is? How to calculate it?

- Entrepreneurs often miscalculate their market size and mis-understand their target market

Target market size

- How will you get clients- No, your marketing plan is not “post on

Facebook, Twitter and give out business cards and flyers”

- It must be more complex and show deep understanding of your consumer and possible marketing strategies

Your marketing plan

- What are the revenue streams?- Is the business profitable? How will it

become profitable?

How does the business make money?

- Close look at the finances of a single transaction to determine how profitable the business is

Unit economics

- List founders or executives, and their relevant backgrounds for this business

- List any advisors, board members

Founding and executive team

- List a few companies with which you are competing with

- Explain how your company vision is “different” and not “better” because when you are starting everyone is better than you

- Show deep understanding of market

Your competition

- Strengths- Weaknesses- Opportunities- Threats

SWOT analysis

- Can go into the appendix or as a section of the business plan

Previous funding

- All financial information can go into the appendix or as a section of the business plan

- Cash flow statement: basically a list of sources from which cash is coming in and out

Finances

- Balance sheet: assets, liabilities and equity

Financials continued

- Everything that might be private, or only for some people to see goes here. This way you can easily take sensitive information in and out of the business plan

Appendix

- Balance doing and planning- How to avoid many mistakes- Persistence- Resourcefulness & creative solutions- ALWAYS be “raising your game”- Team- Productivity - Can you remain sane through ups/downs?

How do YOU succeed?

1) Don’t get into endless planning/brainstorming

2) Wasting your and people’s time3) If it is you, now is the best time to quit

Don’t be just a planner

1) Advisors2) Professional groups on LinkedIn and

Facebook3) Coaches4) Masterminds5) Learn learn learn

How to avoid many mistakes

- It often takes people years of banging their head against the wall

- Everyone will tell you to quit early and put that kind of pressure on you

Persistence

- Every day will be filled with failure- You will have to figure out how to get

around every challenge, sometimes succeeding on the 20th attempt

Resourcefulness

- 10-40% of the time should be spent improving your skills and learning more

- That way when you work on your business, you will do everything to a higher level of quality

Improve your business and YOU

- Focus, procrastination, motivation, efficiency, time management, organization, mindset, eliminating interruptions, setting the right goals, saying no more often, apps and software, self-awareness

Productivity

Email: alex.genadinik@gmail.com

100% free resources: Problemio.com/business/student-resources.php

Questions?