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How to Develop an Effective Business Plan

Learn and identify where you should spend most of your time in preparing a business plan.

Entrepreneurs setting out to raise funds for their business need to go through the exercise of laying out their business concept, their path to growth, the dollars at stake, the dollars to be made and why they should play entrepreneur rather than just get a job somewhere and have weekends free. And while they are at it, entrepreneurs need to go through that exercise if they want to raise money from investors. This topic will show entrepreneurs how to pick a business plan format - long and VC-ish, short and mom and dad-ish, or something in between - that both tests the entrepreneur's assumptions and attracts capital. In other words, with a solid choice about format, and a solid plan, the entrepreneur can make investors listen and, in the bargain, he or she can understand, or understand better, what about this proposed venture is hard, what to watch for, and how to recognize, and when to expect, success.

Runtime: 84 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Business Plan vs. Pitch Deck vs. Strategic Plan vs. Crowdfunding Video vs. Elevator Pitch vs. Banks vs. Somewhere Over the Rainbow (Last Two Being Redundant)

  • Who Are You Pitching
    • 1) Friends Family Fools
    • 2) Crowdfunding
    • 3) Angel Investors
    • 4) Venture Capitalists
    • 5) Customers
    • 6) Existing Stakeholders

Your Father's Business Plan

  • Executive Summary
    • 1) Product
    • 2) Customers
    • 3) Concept
    • 4) About
  • Business Description
  • Marketing Strategy
  • Competitive Analysis
  • Operations and Management
  • SWOT (Strengths, Weaknesses, Opportunities, Threats)
  • Financials
    • 1) Sources and Uses of Funds
    • 2) Cash Flow/P&L
    • 3) Operating History/Balance Sheet
    • 4) Break Even Analysis
    • 5) Pro Forma

Not Your Father's Business Plan

  • Pitch Deck
  • Strategic Plan
  • Crowdfunding
  • Elevator Pitch
  • Strategic Plan

Dumb Things Done by Smart [Enough to Know Better] People

  • Projections Too Far Into the Future
  • Overdone Financials
  • Underdone Financials
  • If I Get One Percent of the Global Flip Phone Market ....
  • One-Size-Fits-All Instead of Writing for Your Audience
  • Spending Too Much Time on Parts of the Plan That Either Aren't Really Important to Your Concept or That You Really, Really Can't Say Much About
  • Lack of Focus on Value Proposition, ie. DIY -It Is
  • Staffing Cluelessness
  • Shortcomings Re Legal Structure and Securities Law Shout 'Amateur'
  • Believing Too Much in Your Plan
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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on July 11, 2016.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

David Borinsky

David Borinsky

Rosenberg Martin Greenberg LLP

  • Founder and owner of The Come Home Baltimore Fund, which renovates abandoned homes in poor neighborhoods and sells them to market-rate, unsubsidized homebuyers
  • Last seen practicing law as a department head at a large Baltimore law firm
  • Lectured on business law, Federal income taxation, community development and other topics at University of Baltimore, Morgan State University and in various bar and professional settings
  • Former law columnist for the Maryland Gazette; sample articles include "Courts Rule Hot Dog Recruitment Practices Not Kosher", "Good Asset Protection is Better than Bad Anything Else" and "Scrooge McDuck, the World’s First MBA Waterfowl"
  • Member Maryland Bar
  • LLM degree, New York University; J.D. and B.A. degree, University of Virginia
  • Can be contacted at [email protected]
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 397901
Published 2016
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