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Welcome back. This
is session 8 on
the business plan of managing
new product launches.
I'm Ed Addison from
NC State University.
Thank you for coming today.
0:14
Today, the subject
is the preparation
of a business plan.
I assume that you have completed
your financial modeling exercise
the one that was
covered in session 7
and that you have written down
all the information
that I asked you
to collect as you did that
financial modeling exercise.
We can now use this information
to develop our total
business plan.
A business plan can be
a written document,
or a pitch deck,
or an executive summary,
or any of those, or
all three of those.
Normally, you'll need
to prepare all three of
those because they're used
for different purposes.
For example, an
executive summary
is often used to
ask for a meeting,
a pitch deck is used to
make a presentation,
and the full business
plan is given to
your investor, usually
later after the meeting.
1:08
Before beginning
the business plan,
it's worth taking a moment to
determine what the purpose
of the business plan is.
Business plan serve
multiple purposes
and if you do a good one,
you can use the same business
plan for all the purposes,
but you may have to tweak it a
little for each
different audience.
You may be using
the business plan
to maintain focus internally.
Most often you're using
the business plan to
secure financing.
At least that's the most
common use of a business plan.
It can also be used
for the motivation of
your employees and for
communication of your vision.
It can be used to enlighten
executives or brief
management or investors.
