One-Hour Business Plan

JOHN McADAM has decades of businessexperience as a hired CEO, serial entrepreneur, and instructor. He holds an MBA from the Wharton School and has taught strategic business planning at the Wharton Small Business Development Center for years. Quoted in business publications such as Inc., Success, Crain's New York Business, Business News Daily, and Wharton Alumni Magazine, John McAdam also speaks for organizations, having been a frequent radio guest and guest speaker on NBC10 Philadelphia Small Business Week and Money Matters TV. To book John McAdam, visit http://planfoundations.com.

• Setting the Tone ixIntroduction xiWhy These Cornerstones Build the Best Foundation for Any Business Plan xviModule 1What Are You Offering? 1Create a Value Proposition That Makes a Stronger Business ModelThe Need 5The Solution 8Features versus Benefits 10Advantages 14Written Exercise:  Write Your Value Proposition 19Value Proposition Exercise #1—The Value Proposition Building Blocks 20Value Proposition Exercise #2—‘‘What Do You Do?’’ 22Value Proposition Exercise #3—‘‘What Do You Want?’’ 24Module 2Who Are You Offering To?The Customer Target Market 27The Only Sustainable Source of Business Funding for the Long TermCustomer Target Market Introduction 29Market Size: The Addressable Market 31Customer Demographics and Demographic Profiles 33Customer Categories 34Second-Phase Customers 35The Customer Target Market Funnel 35Public Relations 38Advertising 41Marketing 44Sales 47Written Exercise Preparation 51Customer Target Market Exercise: Methods and Lists 52Module 3Who Are Your Competitors? Competitive Positioning 55Viewing Your Offering Through Your Customers’ EyesCompetitive Positioning Table Exercise 64Module 4What’s Next? Next Steps 69What Milestones and Action Plans Do for Your BusinessMilestone Introduction 72Business Milestone Definition 76Essential Elements of a Business Milestone 78Examples of Business Milestones 79Milestones in Practice: Sandbagging, Overstatement, and Balance 81Action Plan and Goals Defined 84Milestone Quality Control Check: ‘‘Stiflegoal’’ and ‘‘Stiflestone’’ 86Milestone and Action Planning Worksheets 89Module 5How Much Money Will You Make?The New Offering to Cash Mini-Budget 93A Simple Way to Predict How Much Money You Will Likely MakeHow Much Money Will Your Business Model Make? 96Selling Price 102Average Sales Cycle Time/Customer Acquisition Time 105Unit Sales Forecast 107The New Offering to Cash Mini-Budget Worksheet Exercise 112Conclusion: Pulling It All Together 117Using Your One-Hour Business Plan to Earn Customers TodayI Love Beta Users of Innovations and You Should, Too 127CEOs and Entrepreneurs Have a Lot in Common 130Other Applications of the One-Hour Business Plan 132On the One-Hour Business Plan Concept— Is It a Gimmick? 137Get Feedback on Your Plan Foundation from Advisors, Colleagues, and Mentors with Successful Exits 139Benefits of Sending Us Your Worksheets 142Help Us Get the Word Out—This Works! 143Final Thoughts 147Acknowledgments 153Index 159