Lean Business Planning

Lean Business Planning EIN 6325

Business Plan Outline (Single spaced Word Doc; Use 14 pt Calibri or Ariel typeface Each section should include a 1 paragraph introduction followed by bullet points Minimum 4 pages/ Maximum 6 pages, plus exhibits)

1 –Title page

• The company name is Ddigz “Interior decorating on a dime.”

• Co-founder Abdulhakim Alqahtani

• Contact Details (13031 SW 56th Terr, Miami,FL 33183, [email protected])

2 – Executive Summary (Write this last, after rest of plan has been completed)

• Vision – what we are trying to achieve

• Problem we are solving

• Product/ Solution

• Why it is 10x better than alternative solutions

• How we are going to get our first and future customers

3 – Describe Problem (Week 2) and Customers (Week 3)

• Who has the problem – describe their demographics (age, gender, location, what they are trying to accomplish)

• What are their circumstances/ what is their key pain point/ frustration/ opportunity

• Statistics to support your observation of User needs

4 – Describe Your Product/ Service (Week 4)

• What is your Product exactly

• How does it solve the problem

• What are its minimum features

• How does it benefit your User

• What specifically does the customer value about your product? Is it essential or important?

• Show a picture (drawing or photo) of your prototype product (Weeks 4 and 11)

5 - Market and Competition (Week 5)

• Market Analysis (Industry/ Seasonality/ Competitors)

• Market Size

• What does your competition do? What are their strengths and weaknesses

• What is your long-term advantage versus the competition?

EIN 6325 Fall 2018 Outlines: Business Plan Document and two presentations (mid-term and final)

6 – Pricing and Sales (weeks 6 and Week 7)

• What is your pricing / compare to the competition?

• How are you going to reach your users (e.g. advertising, social media, direct marketing, channel marketing, etc)

• How will you compel them to buy from you?

• How will you get the product to them (e.g. online sales, distributors, ship directly, use fulfillment house, etc.)

7 – Business Model (weeks 9 and 10)

• How many revenue streams will your company have?

• How is each product priced/ how many will you sell of each/ what is profitability of each product?

• How much revenue do you expect to earn per month over the next 18 months?

• What are your monthly expenses (your burn rate)?

• How much money do you need to raise in order to last 18 months?

8 – Product Company Development Plan/ Timeline – 18 months (Week 12)

• Milestones of product development

• Key dates for producing sales, reaching sales milestones, hiring staff, and other operational actions

9 – Funding Need – 18 months (Week 13)

• Financial Projections

o Income and Expenses first 2 years (per year) o Revenue Forecast (per year) o Net Income per year

• How much money do you need to raise to fund the business for 18 months

• Assume you will earn some revenue from sales during this time period

• Your funding need is (your burn rate x 18 months) minus your estimated sales: adjusted for potential risks

10 – Management Team (Week 14)

• Qualifications of each team member

• Include outside advisors and mentors, plus lawyers and accountants

Exhibits – must include (maximum of 5 exhibits)

A. Financial forecast: 24 months (month by month) B. Product Development Timeline C. Company Development Timeline D. Anything else that may be helpful

EIN 6325 Fall 2018 Outlines: Business Plan Document and two presentations (mid-term and final)

Presentations Midterm: 7 Slides 1 –Title page

2 – Executive Summary

3 – Describe Problem (Week 2) and Customers (Week 3)

4 – Describe Your Product/ Service (Week 4)

5 - Market and Competition (Week 5)

6 – Pricing and Sales (weeks 6 and Week 7)

Final: 10 Slides 1 –Title page

2 – Executive Summary

3 – Describe Problem (Week 2) and Customers (Week 3)

4 – Describe Your Product/ Service (Week 4)

5 - Market and Competition (Week 5)

6 – Pricing and Sales (weeks 6 and Week 7)

7 – Business Model (weeks 9 and 10)

8 – Product Company Development Plan/ Timeline – 18 months

9 – Funding Need – 18 months

10 – Management Team

Exhibits – must include (maximum of 5 exhibits)

E. Financial forecast: 24 months (month by month) F. Product Development Timeline G. Company Development Timeline H. Anything else that may be helpful

EIN 6325 Fall 2018 Outlines: Business Plan Document and two presentations (mid-term and final)