Developing a Business Plan

MGMT X 497.610

The foundation of a successful business is a solid business plan. This comprehensive course dives into the details of developing a plan, and students emerge with a first draft of a sound business plan.

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What you can learn.

Learn the key components for creating a business plan
Identify existing customers and future customers
Understand revenue forecasting methodologies, competitor analysis, small business finance, and how to transition from personal guarantees and credit lines to a self-financing business model
Effectively plan, hire, and train staff with high potential
Examine the legal aspects of organizing and managing a small business

About this course:

Learn all aspects of creating a solid first draft of your own business plan. This course begins with a comprehensive "situation analysis" of your (or your employer's) small business (or case study, if more applicable). You then learn the key components for creating an effective business plan: knowing your existing customers, targeting future customers, customer value formulation, income statement and balance sheet forecasting, revenue forecasting methodologies, competitor assessment and emerging company/product/service competitors, and understanding the pitfalls of small business development. In addition, you look at building and planning an efficient business infrastructure (systems, technology, third-party software); small business finance, cash flow, debt, and financing alternatives; transitioning from personal guarantees and credit lines to a self-financing business model; effectively planning, hiring, and training staff with high potential; the legal aspects of organizing and managing a small business; negotiating skills; and setting day-to-day priorities with the business plan in mind. With these skills, you can build a solid first draft of your business plan.