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Business Planning.pdf

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COMM 101
Laura Allan

Business Planning Sunday, December 16, 2012 8:05 PM THM code - counivjawlassok Business Plan - sell, not describe AWAKE - Components - Feb 10th dragon's den ○ Key questions answered - Started as niche market --> mainstream ○ Characteristics of well-prepared plan - Fast agility into market --> built loyalty by the time larger corporations copy ○ Executive summary ○ Critical risks ○ Millstones ○ Seven deadly sins Functional products have led to exponential sales and profit growth in many categories = fortification - Yogurt (flavors)--> probiotics - Soft drinks (Coke & Pepsi)--> caffeine - Bottled water (price)--> vitamins - Awake Caffeinated Chocolate ○ Tastes like chocolate + performs like energy drinks ○ Mars first made it, but tasted terrible Art of the Start - Causation (Chapter 1 The Art of Starting) Art of the Start - Articulation(Chapter 4 The Art of Writing a Business Plan) 1. Make meaning Reason (right) a. Sentence: if your organization never existed world would be worse off - Due-dilligence stage of courting an investor = investors wants to see (show your because … - Forces founding team to work together = team cohesion b. Not enough to say you want money, power, prestige (not drive) - Makes team consider issues it glossed over in the euphoria = bring you down to earth & make you c. Needs to change the way the world looks at sth, etc analyze with others d. Drive motivator,real meaningful thing - Uncovers holes in founding team = gives you insight on what you need to learn 2. Make mantra • Process is more important than destination a. "sacred verbal formula repeated in prayer, meditation, or incantation, • Write deliberate, act emergent! such as invocation of god, magic spell, or syllable or portion of scripture containing mystical potentialities" Pitch then Plan b. Need mantra that evokes emotion- set team on track 1. Presentation (10 slides /20 min / font 30) c. Not a slogan a. Title d. Mission statements are not enough b. Problem i. It's meant to meet needs of stakeholders c. Solution ii. Boring and irrelevant d. Business model iii. No one can remember e. Underlying magic - why product/serviceis special (AWAKE - special ingredient) iv. Commonwords (good, excellent, quality) f. Marketing and sales v. Do not create clear understanding g. Competition h. Management team - why should people pay you PEPSICO •Our mission is to be the world's premier i. Financial projections and key metrics - experts can see through it if its inaccurate Mission consumer products company focused on statemen convenient foods and beverages. We seek to j. Current status, accomplishmentsto date, timeline and use of funds - people interested in t whr their money is going and how r u using it produce financial rewards to investors as we 2. Try it on people (10 times) provide opportunities for growth and 3. Fix the pitch enrichment to our employees, our business vi. 4. Write the plan partners and the communities in which we -------- Report ----> Presentation ----> ElevatorPitch = lose key points - condensed long report operate. And in everything we do, we strive -------- Elevator Pitch ----> Presentation ---> Report = clear message - presenting trunk of idea for honesty, fairness and integrity. Mantra Refresh Everything! - evokes emotion, clear, chantable vii. Awake mantra - STAY AWAKE - want to stay on leading edge of Art of the Start VS Textbook innovation in this type of product 3. Get going a. "Don't worry about being embarrassed. Don't wait to develop perfect Art of the Start Text Chapter (p 17 - p 25) product or service. Good is good enough. There will be plenty of time
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