Showing all articles tagged: presentation


Easy (easier? easiest?) way to create a business plan ...

Easy (easier? easiest?) way to create a business plan ...

The most common approach to creating a business plan to present to prospective investors and collaborators is through a PowerPoint (or Google Slides) presentation.

PowerPoint is an excellent tool ... it has good graphics capabilities built in, creating individual slides for each topic tends to force clarity in thinking, it allows for adding hidden (or not) "speaker notes" to each slide, and more.

One interesting "trick" ... use the "speaker notes" in a PowerPoint business plan slide deck to transform the slides into a more formal written business plan.

It is very common for prospective investors to ask for a copy of the slides before, during, and after a presentation. The down-side is that not all of the pertinent information is on the slides. The speaker for each slide is providing that information. However, there is a easy and fairly elegant solution. Instead of just printing the slide deck, print the slide deck with the accompanying speaker notes. But not just any ordinary speaker notes ...

Use the "Speaker Notes" feature of PowerPoint to write sentences and paragraphs as needed to help the reader understand what is on the slide (since the actual speaker is not there to tell them in person). Just like writing a "formal" document except with the added benefit here of coordinating with the venture plan slide deck and graphics.

There are typically 10 to 20 slides in a business venture plan slide deck (a suggested base outline is below).

From the PowerPoint slide deck with the sentences and paragraphs, the slides with "speaker notes" can be printed one or two slides per page. The results is a "written" business plan that coordinates perfectly with the slide presentation, and has more details than simply printing the slides alone.

Base (but likely not all elements) of an outline for a business plan/presentation ...
1] Title ... name of your venture, logo, tag line, contact information ... a billboard executive summary of the venture
2] Problem/Opportunity ... pain your alleviating or the pleasure you're providing
3] Value Proposition ... benefits versus price
4] Underlying "Magic" ... your solution, marketing brochure, the "secret sauce" behind your venture ... photos, pictures, diagrams,
actual prototype?
5] Business Model ... how you make money ... business model canvas is a good graphic
6] Go-to-Market Plan ... customer NWD profile and how you will fill the holes ... buyer, decision maker, influencer, user, et al
7] Competitive Analysis ... key competitors and perhaps a SWOT(T)
8] Management Team ... you, key advisors
9] Financial Objectives ... first week, month, quarter, year ... how you will meet these objectives ... key metrics
10] Timeline and Status ... Past 6 months, status now, next 6 months ...

While these 10 slides are fundamental, 10 slides alone are often not enough for some base business venture plan presentations. Add as needed but resist the urge to have more than about 18 slides for a 10 to 15 minute presentation.

171109G (c) 2017 Jim Jindrick


The 18 Base Slides for a Venture Plan Presentation ...

Slide 1: "Billboard"
Slide 2: Core Team ... who, what
Slide 3: Problem / Customer / Opportunity ... scale and scope of problem, SOM/SAM/TAM
Slide 4: Solution ... brochure
Slide 5: Value Proposition ... Customer NWD Profile, Benefits, FFFF
Slide 6: "Underlying Magic"... differentiation, competitive advantages, core competencies
Slide 7: Industry and Environment ... Who, What, SWOT
Slide 8: Competitive Analysis ... Who, What, SWOT
Slide 9: Business Model ... BM canvas
Slide 10: Go-to-Market Plan ... Strategies
Slide 11: Sales Plan ... Objectives
Slide 12: Operations ... Production, distribution, delivery, margin objectives
Slide 13: Growth Strategies ... Scale and Scope
Slide 14: Timeline ... What, when, where
Slide 15: Financial Objectives and Key Metrics ...
Slide 16: Use of Funds ...
Slide 17: Funding Proposal ... Equity, debt, grants, gifts
Slide 18: "Billboard"


Slides 19 to 100+ will have all the gory details!! Lists of 100: customers, prospective customers, target markets, competitors, prospective collaborators, suppliers, prospective investors, ...

These 18 slides also form the foundation for a formal written business plan and an executive summary.

2.05a

Seven C's of Effective Communications

  1. Clear: Make the goal of your message clear to your recipient. Ask yourself what the purpose of your communication is.
  2. Concise: Your message should also be brief and to the point. Why communicate your message in six sentences when you can do it in three?
  3. Concrete: Ensure your message has important details and facts, but that nothing deters the focus of your message.
  4. Correct: Make sure what you're writing or saying is accurate. Bad information doesn't help anybody. Also make sure that your message is typo free.
  5. Coherent: Does your message make sense? Check to see that all of your points are relevant and that everything is consistent with the tone and flow or your text.
  6. Complete: Your message is complete when all relevant information is included in an understandable manner and there is a clear "call to action". Does your audience know what you want them to do?
  7. Courteous: Ensure that your communication is friendly, open, and honest, regardless of what the message is about. Be empathetic and avoid passive-aggressive tones.

[2.04]

Plan ... Nitty Gritties

Business Plan review notes
[ ] Put a version.revision number on the front page ... change the v.R EVERY time you make a change in the plan so you and reader know which version they have
[ ] Front page "boiler plate" ... copyright, company name, logo, tag line, 25-word summary, team name (city, can remove later), team members and roles, legal disclaimer, version.revision number, date (?)
[ ] Nix the jargon!
[ ] You need to tell a story. All the puzzle pieces must fit together. Don't throw in any red herrings!
[ ] You all seem to understand elements and perspectives of a new venture ... Difficult to put them together in a realistic cohesive plan
[ ] You must drive the financials ... They don't just happen because we plug some numbers in a spreadsheet
[ ] Use headlines that say something
[ ] Lots of graphics... Lots!
[ ] Must cover basic and specific critical success factors
[ ] Use business model canvas and other "standard" visuals for communications
[ ] Need to explain financial objectives (projections) ... goals, forecasts, budgets
[ ] Home page / slide ... mini-exec summary of the venture

1.05

Business Model Canvas ...

Here’s a version of the very popular Business Model Canvas. Remember, it’s a “canvas" … use it as a tool to build your business model by applying some "paint" with elbow grease! Then use it as a tool to “display" your “work of art" ...


Here’s a version of the canvas that applies to Google ...



Here the Business Model “Canvas" is being used as a communications tool, integrated into their business plan ...


Plan ... How to Write an Effective Business Plan

  1. Start with a clear, concise executive summary of your business. Think of it like an elevator pitch. In no more than two pages, billboard all the important stuff. At the top, communicate your value proposition: what your company does, how it will make money and why customers will want to pay for your product or service. If you are sending your plan to investors, include the amount of money you need and how you plan to use it. You have to know the whole picture before you can boil things down, so tackle the summary after finishing the rest of your plan.
  2. Next, establish the market opportunity. Answer questions like: How large is your target market? How fast is it growing? Where are the opportunities and threats, and how will you deal with them? Again, highlight your value proposition. Most of this market information can be found through industry associations, chambers of commerce, census data or even from other business owners. (Be sure to source all of your information in case you are asked to back up your claims or need to update your business plan.)
  3. While you may have convinced yourself that your product or service is unique, don't fall into that trap. Instead, get real and size up the competition: Who are they? What do they sell? How much market share do they have? Why will customers choose your product or service instead of theirs? What are the barriers to entry? Remember to include indirect competitors--those with similar capabilities that currently cater to a different market but could choose to challenge you down the road.
  4. Now that you've established your idea, start addressing the execution ... specifically, your team. Include profiles of each of your business's founders, partners or officers and what kinds of skills, qualifications and accomplishments they bring to the table. (Include resumes in an appendix.)
  5. If potential investors have read this far, it's time to give them the nuts and bolts of your business model. This includes a detailed description of all revenue streams (product sales, advertising, services, licensing) and the company's cost structure (salaries, rent, inventory, maintenance). Be sure to list all assumptions and provide a justification for them. Also, include names of key suppliers or distribution partners.
  6. After all of that, one big question still remains: Exactly how much money does your business stand to make? More important, when will the cash come in the door? That's why you need a section containing past financial performance (if your company is a going concern) and financial projections.
  7. Three-year forward-looking profit-and-loss, balance sheet and cash-flow statements are a must ... as is a break-even analysis that shows how much revenue you need to cover your initial investment. [Jim 2 cents: make clear these are objectives for your venture, not just "projections" of what might happen!]
  8. For early stage companies with only so much in the bank, the cash-flow statement comparing quarterly receivables to payables is most critical. "Everyone misunderstands cash flow," says Tim Berry, president of business-plan software company Palo Alto Software. "People think that if they plan for [accounting] profits, they'll have cash flow. But many companies that go under are profitable when they die, because profits aren't cash."
  9. After you've buffed your plan to a shine, don't file it away to gather dust. "A business plan is the beginning of a process," says Berry. "Planning is like steering, and steering means constantly correcting errors. The plan itself holds just a piece of the value; it's the going back and seeing where you were wrong and why that matters."

[From Mary Crane, Forbes.com]
1.08

What to Avoid in Your Business Plan and Presentation

  1. Form over substance. If it looks good but doesn't have a solid basis in fact and research, you might as well save your energy.
  2. Empty claims. If you say something is so, back it up in the next sentence with a statistic or fact or quote from a knowledgeable source that supports the claim.
  3. Rumors about the competition. If you know for sure one is going out of business you can allude to it, but avoid listing their weaknesses or hearsay. Stick to facts.
  4. Superlatives and strong adjectives. Words like major, incredible, amazing, outstanding, unbelievable, terrific, great, most, best, and fabulous don't have a place in a business plan. Avoid ``unique" unless you can demonstrate with facts that the product or service is truly ``one of a kind". Your opportunity is probably not unique.
  5. Long documents. Keep it under 25 pages total. Write whatever you want to write, but keep it at home. If they want details, they will ask.
  6. Over estimating on your financial projections. Sure you want to look good, but resist optimism here. Use half of what you think is reasonable. Better to underestimate than set expectations that aren't fulfilled.
  7. Overly optimistic time frames. Ask around or do research on the Internet. If it takes most companies 6-12 months to get up and running, that is what it will take yours. If you think it will take 3 months to develop your prototype, double it. You will face delays you don't know about yet--ones you can't control.
  8. Gimmicks. Serious investors want facts, not hype. They may eat the chocolate rose that accompanies the business plan for your new florist shop, but it won't make them any more interested in investing in the venture.
  9. Typos and misspelled words. Use your spell checker, hire an editor or have four people read the document from back to front, but get those errors out of there if you want to be taken seriously.
  10. Amateurish financial projections. Spend some money and get an accountant to do these for you. They'll help you think through the financial side of your venture, plus put them into a standard business format that a business person expects.

[Kaye Vivian]
1.04

Venture Hypothesis Outline ...

  1. Title slide or page ... venture concept name, team members, 3-word concept summary
  2. Opportunity ... the problem, market analysis, first customer(s)
  3. Solution and venture concept ... products and services, competitive advantage
  4. Business model ... how the venture will make money
  5. Marketing and sales strategies ... how the venture will attract customers
  6. Product development and operations strategies ... how the venture will develop and deliver solutions to customers
  7. Team and organization ... the current team and what do they do, advisors, team members to be added
  8. Risks and variations ... downside and upside risks, timeline and tolerances
  9. Financial model ... estimate of units sold, average selling price, revenue, expenses, margins, and EBITDA for first 5 years; key assumptions; significant startup expenses
  10. Validation plan ... how the hypothesis will be validated

1.03

How to Give a Super Rocket Elevator Pitch

  1. Begin with an end in mind: What is it that you are looking to gain? Most often the pitch is used as a tool to capture enough interest to warrant a formal
  2. Sell, Sell, Sell: What are you really selling? You are selling yourself! You're selling your dream. Be confident and show your passion.
  3. Keep it simple: You should deliver a clear, compelling and simple image of your opportunity that is easy to remember and repeat. You want the audience to say, "I get it!"
  4. Image is everything: The pitch must implant a clear image of your opportunity in the mind of the audience. [Jim's Toosense: If image is everything, why not use images ... real images, pictures, graphs, maps, diagrams, et al ... a picture is worth at least a kiloword!]
  5. Adapt your presentation to the audience: The same pitch you use for an investor might not be the same as to a supplier. (For the sake of simplicity, the term audience is used in a generic sense to include an investor, supplier, employee, customer or even a judge in a competition.)
  6. Lay out the benefits: Demonstrate how your business will impact consumers and showcase the return to the investors. [Jim's Toosense: "Benefits" to the audience ... what's in it for them?]
  7. Differentiate yourself from the competition: Focus on outlining the special features of your product/service that gives you the edge over the competition. Time permitting, summarize the competitors and insert facts or statistics where necessary.
  8. Don't forget the numbers: Depending on the audience, you need to insert a snapshot of your financials and other critical data. For example, "In year three we expect to capture 3 percent of the market, giving us $30 million in sales revenue." Investors also want to know the amount of investment you need and the return on investment (ROI). [Jim's Toosense: the author of the article wrote "...we expect to capture..." ... I strongly suggest changing that to "...we will capture ... let us show you how"!]
  9. Be memorable: Use your creativity and imagination. Put a tag on it! For example: Chevy - Like a rock. Nike - Just do it! BMW - The ultimate driving machine.
  10. Conclude with a call to action: For example, "Thank you for the opportunity to pitch my idea. I'd be interested to provide greater detail over a lunch." The best pitch is useless without any follow-up action.
  11. Practice! Practice! Practice! While there are always a few naturally gifted speakers out there, the more you rehearse your pitch the more natural it will flow and the more confident you will appear. Remember that showing confidence and passion helps sell your idea.
  12. Don't give up: Some people may not understand your opportunity at first, so don't get discouraged or quit. Walt Disney pitched his idea for Mickey Mouse to more than 300 banks before he received funding.
  13. Formatting the Pitch ... No matter what your business opportunity might be, you need to have a format for the pitch. While there are certainly countless ways to format the pitch, I strongly urge you to consider the following example. It's brilliant! I only wish I could take credit, however it was presented by renowned business strategist Geoffrey Moore in his best selling book "Crossing the Chasm." You may have noticed that many TV commercials currently use a rendition of his format.
Jim's Toosense ... Give them a takeaway ... certainly your business card(s) at the least, but how about giving them a marketing brochure, a catalog, a menu, something that reflects the business you're in! Should you give them your executive summary? Yes, if they are investor types. Should you give them your full business plan ... that's up to you. Might be too early in the game. The purpose of an elevator pitch is usually to get another meeting, a longer meeting to discuss your venture in detail. That might be a better time to give them your full plan (if appropriate).

[Troy Byrd, edited by Jim Jindrick]


Jim Jindrick

You can send Jim Jindrick a message here: TextJim.VentureNotebook.com Jim's books are available here: Amazon.com/author/JimJindrick

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