A simple cover sheet for the proposal that identifies: Name and address of the business Name, address and telephone number of the owners Date of the proposal or loan request Identification of the owner, or who prepared the plan back to top Executive Summary The Summary serves to give a loan officer, investor, or employee a thumbnail sketch of the business and the purpose for writing the business plan. Tell them what you want: Line to be secured by inventory, accounts receivable and certificate of deposit.
The irony, not many folks know what it is. It's become the catch-all term, a ubiquitous phrase depending on whom you talk to -- which of course contributes to the confusion.
Frankly, it's a tough thing to articulate. Typically, the function of BD can include a variety of activities like strategic partnerships, content licensing, product distributions, monetization, and sometimes acquisitions. But, it varies greatly depending on the size and type of startup.
For example, BD at Seesmic was very focused on our platform and growing our userbase through 3rd party integrations. At Moz, it's all about product distribution, strategic data partnerships, and monetization through our API.
The day to day is drastically different. A few years back, Seth Godin wrote a great post on BD, complete with tactical recommendations and examples outside of startups of BD in the wild. The Princeton Review built a huge test prep business, but only by licensing their brand to a series of books which did the lion's share of their marketing for them.
Starbucks licenses their name to a maker of ice cream and generates millions in royalties. Best Buy offers extended warranties on appliances you buy. A more relevant example in the technology industry would be something like Foursquare partnering with AMEX to provide rewards for check-ins or Twitter partnering with Gnip to license their firehose.
Extracting from all of those examples, in it's simplest form, BD can be described as connecting similar businesses to similar goals. But that's overly simplified. Digging in a bit deeper, I've found that BD at startups can be distilled down to 2 primary responsibilities. Regardless of your size or scale, you're likely to receive endless requests to "partner".
As cool as that sounds, 9 times out of 10, it's likely not going to be beneficial. The majority of people don't do their research or take the time to really understand the businesses that they're looking to partner with.
As a BD, one of your primary roles is knowing how to sniff out the requests that are going to derail you from your mission and spot the ones that can take your business to the next level. Likewise, the BD plays the role of the connector for the requests that make it through the filter -- connecting the right people together and driving a deal through to completion.
Goals can be specific things like building a platform of 3rd party apps in the case of Seesmic or broader things like making check-ins derive real world value in the case of Foursquare.
In terms of execution, the thought process is the same. That goal is the finish line, and the role of BD is to fill the gap in the middle.
The gap is filled by determining which companies can help your startup achieve your goal and most importantly, how can you help bring them closer to their goals.See a full sample business plan to see all of the elements and how you should develop your own for your company.
The following business plans are examples of what a completed business plan might look like. and chapters on the company, products and services, market focus, action plans and forecasts, management team, and financial plan.
Finally, in its assessment of strategic importance, the strategic-renewal team must consider if the customer, product, or service is likely to help the company grow.
Business Plan and Business Structure The Twin Foundations of Any Successful Wal-Mart last year accounted for nearly 8% of overall US retail sales. I find it ironic that the day after the day we’ve set aside to celebrate thankfulness is the biggest commercial retail day of the year.
It can be easy to lose perspective, and I try my best to remember the things that I am thankful for. Executive Summary The Executive Summary of a Business Plan is a one-page distillation of your entire plan, and often is the last section to be written. On television we see product differentiation all the time, whether the subject of the commercial is a distinguishable good like an automobile or an indistinguishable good like laundry detergent.