Create a Basic Plan for Your Small Business

All businesses need a plan to succeed.

Your plan drives critical decisions and actions that determine whether you succeed or fail. Identifying your core customers, important activities and key resources can make sure you’re focusing your business on profitability and growth

Unfortunately, the business planning process can be confusing and complicated. The format of a traditional business plan can be long, lengthy and intimidating to write. Knowing what information is critical to include and knowing where to get that information can result in a plan that isn’t helpful or ends up on the shelf ignored.

In this two-session class we will take a fresh look at how to create a plan that works for your small business. One that is less confusing, gives you the ability to make important decisions, and helps you figure out how to determine what information you really need before you execute the plan. SBDC Manager Eric Byrd will walk you through building your own simple business plan using The Business Model Canvas and other tools so you can easily chart a course for success.

In the first session (part one) you will identify the 5 Elements of Your Plan and define the structure of your business concept. This is the foundation of your plan and of your business once you open your doors at launch time. Also in the first session (part one), you will discover how to identify your core Customer Segments and Value Proposition to map out what you need to know to turn your idea into an actual operational business. Between the sessions you will do research and gather information about your key customers and value proposition to include in your basic plan. In the second session (part two) you will learn how to use your value proposition information to map out your business model and identify ways to confirm your concept using the data gathering and validation techniques. Also in the second session, you will be exposed to the three core Business Finance concepts you will need to understand to turn your idea into a functioning business. Throughout the process you will be able to ask questions and identify the specific information you need to have to create the right plan for your specific business.

Speaker(s): Eric Byrd, Manager, Loudoun SBDC

No Cost

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