1、HOW TO WRITEA BUSINESSPLAN2Table of ContentsPreface.41.THE ROUTE FROM CONCEPT TO COMPANY.41.1 Success factors.41.2 Stages of development.52.THE BUSINESS IDEA.82.1 Development of a business idea.82.2 Elements of a promising business idea.92.3 Protecting your business idea.132.4 Presenting to investor
2、s.143.THE BUSINESS PLAN.163.1 Advantages of a business plan.163.2 Characteristics of a successful business plan.163.3 The investors point of view.183.4 Tips on preparing a professional business plan.214.STRUCTURE AND KEY ELEMENTS OF A BUSINESS PLAN.234.1 Executive summary.234.2 Product or service.24
3、4.3 Management team.264.4 Market and competition.284.5 Marketing and sales.324.6 Business system and organization.374.7 Implementation schedule.414.8 Opportunities and risks.424.9 Financial planning and financing.425.CASE STUDY:CITYSCAPE.485.1 CityScape:Idea and business concept.485.2 CityScape:Busi
4、ness plan.495.2.1.-EXECUTIVE SUMMARY.505.2.2.-SERVICE IDEA.525.2.3.-MANAGEMENT TEAM.535.2.4.-MARKET AND COMPETITION.545.2.5.-COMPETITOR ANALYSIS.555.2.6.CITY SCOPES COMPETITIVE ADVANTAGES.565.2.6.-MARKETING AND SALES.575.2.7.-BUSINESS SYSTEM AND ORGANIZATION.585.2.8.-IMPLEMENTATION SCHEDULE.605.2.9.
5、-OPPORTUNITIES AND RISKS.615.2.10.-FINANCIAL PLANNING AND FINANCING.625.3.-Critique of elements of CityScape business plan.683PrefaceThis Guide to writing a business plan is designed to help you in developing yourbusiness idea,from concept to company.It details the contents,scope,andstructure of a b
6、usiness plan and the expectations venture capitalists have whenreading one,and provides valuable pointers on starting up a company.The Guide is not intended as a business studies resource nor is it a theoreticaltreatise on the nature of business plans per se.Rather,it offers practical tips to helpyo
7、u get started setting up your company.Naturally,there is no guarantee that allaspects of this Guide will be relevant to your particular company or that all topicsrelevant to your company will be covered.The Key questions about the mainelements of a business plan make no claim to completeness;those q
8、uestions notrelevant to your specific business plan need not be answered.If you are reading this Guide because you have a business idea you want totransform into a successful company,we offer you a word of encouragement:Makethe most of this opportunity!McKinsey&Company,Inc.41.The Route from Concept
9、to CompanyNew,innovative companies generally try to grow from a startup into an establishedcompany within five years.But they can seldom finance their activities alone alongthe way.Rather,they are dependent on professional investors with considerablefinancial clout.For entrepreneurs,financing is an
10、existential question the businessplan must thus be viewed from the point of view of potential investors right fromthe outset.1.1 Success factorsSuccessful companies arise from a combination of five elements(exhibit 1).1.No business concept,no business.Having an idea is just the beginning of thecreat
11、ive process.Many entrepreneurs are initially infatuated with their inspiration,losing sight of the fact that their idea is the point of departure for a long process ofdevelopment which must face and withstand tough challenges before it can enjoyfinancing and market success as a mature business conce
12、pt.2.Money matters.Without finding somebody who invests money into growing theidea into a viable business,this business will never become a reality.Therefore,fromearly on a lot of attention has to be put on convincing investors to provide thenecessary funding.3.No entrepreneurs,no enterprise.Growing
13、 new firms is not a one-person job.Itcan only succeed with a team of,usually,three to five entrepreneurs whose talents5are complementary.Putting together well-functioning teams is known to be adifficult process,taking time,energy and an understanding of human nature.Do notlose any time in putting yo
14、ur team together,and work on perfecting it throughoutthe entire startup process.The characteristics of a high-performance managementteam are discussed in more detail in section 5.3 of this Guide.4.Traditional service providers will help you clear the first hurdles.You will oftenneed the advice of pr
15、ofessional service providers such as patent lawyers,taxadvisors,and market researchers,especially at the beginning.Getting the rightinformation early,e.g.,for registering a patent,can have consequences for latersuccess or failure.5.Strong networks are a shot in the arm for every new company.Professi
16、onalguidance of potential entrepreneurs by means of a network of non-materialsponsors,entrepreneurs,venture capitalists,and service providers is decisive inmaking viable ideas into real companies.Prime examples for such regional networkscan be found in Silicon Valley and the Boston area.1.2 Stages of developmentThe typical progression of the startup and development of growing companies intoestablished firms can be subdivided into three stages.The end of each stage serves asa milestone for ventur
