Phase II

Building Your Business Plan

Green and grey timeline illustrating Phase II of Launch Your Business in 11 Weeks online course

Limited enrollment to ensure maximum quality of individual feedback

Phase II

Building Your Business Plan

What to expect

  • Business plan template with instructions and explanations for each section
  • Learn how to research and develop a strong Business Plan
  • Build a robust Business Plan for your business idea with direct guidance and individualized feedback on each section
  • Weekly group Google Hangout to address questions and to help keep you on track
  • 24/7 email access to us with same-day response
Green rectangle with black text that reads "60 Day Money Back Guarantee"

Requirements

  • Completion of Phase I of Launch Your Business in 11 Weeks
  • Plenty of energy, enthusiasm, and determination

Description

In Phase I of Launch Your Business in 11 Weeks, you refined your Value Proposition and performed a rigorous Feasibility Analysis for your business idea.  In Phase II you will develop the rest of your Business Plan over the course of five weeks. You will begin by using the results of your Feasibility Analysis to complete the “Company Description” section of your Business Plan.  This will include a succinct explanation of the problem that your product/service/idea will solve (or the need you will fulfill) as well as your company vision, mission statement, and Value Proposition. You will then continue your secondary research from Phase I, focusing primarily on identifying and describing significant trends in your industry, the competitive environment in which you will be operating, barriers to entry or required technology, and your target market.  After completing this research, you will organize your findings in a brief narrative.  

Next, you will focus on thoroughly researching your competition by conducting a structured Competitive Analysis.  This will entail identifying the major players in your industry, how much market share they possess, and strategic opportunities for your business to compete in the marketplace.  You will also assess the risk involved in launching your business using a SWOT Analysis–this will require you to identify and understand the strengths and weaknesses of your product/service/idea as well as any opportunities and threats you may face in the marketplace.  After completing both analyses, you will again report your results in a brief narrative (at the end of Phase II, you will assemble your final Business Plan from all of your independent, narrative sections).  

Next, you will address your relationship to your target audience along with the practical aspects of running your business.  Through revisiting your Value Proposition and the results of your primary research from Phase I (in which you interviewed industry experts and potential customers), you will clarify precisely what it is that your customers want.  This will enable you to create a marketing strategy as well as to structure your sales process. You will then determine how to organize and run your business day-to-day from production and shipping to quality control and customer service.  You will also determine how to fulfill technology requirements for conducting your business both now and in the future. Ultimately, you will summarize your work within each of these areas in a brief narrative.

Approaching the conclusion of Phase II, you will determine your management structure, timeline for development, and exit strategy.  Additionally, using tools such as the Break-Even Analysis, Income Statement, Cash Flow Statement, Balance Sheet, and Sources & Uses of Funds, you will create rigorous financial projections for your business.  These will detail everything from launching your business to managing the finances of operating and growing it successfully and profitably. Finally, you will organize your work across these areas into a narrative and compile your final Business Plan from all of your written sections.  

At each stage of Phase II, I (Terry Cornelison) will provide you with guidance and feedback to ensure that you not only emerge with a strong Business Plan but also master the process of thoroughly researching and developing each component.  I will instruct you on how to properly conduct your analyses and financial projections in addition to carefully reviewing your work and offering feedback throughout Phase II.

After completing Phase II, you will be ready to continue to Phase III of Launch Your Business in 11 Weeks, which will guide you through creating a professional presentation for requesting funding from investors and lenders.  Note that I have separated my 11-week program into three independent, but successive phases (i.e. in order to enroll in a later phase, you must first complete all previous phases).  This helps to split the total cost of enrollment into three more affordable blocks and gives you the option to proceed through my program at your own pace (sometimes life can get in the way, and you simply may have to postpone enrolling in the next phase until you are ready).  By the end of Phase II, you will have developed a full-fledged business plan, which may be all that you want from my program. However, if you intend to rely on external funding from investors and lenders to grow your business, I highly recommend completing Phase III.

Timeline

  • Group Google Hangout #4.  I will recap your work from Week 3 of Launch Your Business in 11 Weeks and introduce your new tasks for Week 4.  We will talk about the entire process of working through the initial sections of your Business Plan, and you will be able to ask me any questions you might have up to this point.
  • We will start by using the work that you completed as part of your Feasibility Analysis to populate the Company Description section of your Business Plan.  This will include a description of the Problem that you have identified and your proposed Solution. You will also address your company vision, mission, and Value Proposition as well as where you currently stand with developing your product/service/idea.
  • Next, you will spend a little more time researching your industry to identify and describe significant trends, the competitive environment in which you will be operating, barriers to entry into this industry, required technologies, and opportunities for your product/idea/service.
  • Then, you will research your target market–identify and describe the market, how large it is, any significant trends, exactly who your target customers are and how you will reach them, etc.
  • You will analyze the results of your research on all these topics and write a short narrative for each before sending these to me for review.
  • I will then send you my comments with suggested revisions as needed.
  • Although we will not actually “roll up our sleeves” and work through detailed financial projections until Week 8, I will ask you to start becoming familiar with your financial spreadsheets.  We will be creating Cash Flow, Profit & Loss, Balance Sheet projections, along with a Breakeven Analysis and Sources & Uses of Funds. We will talk more about financials in this week’s Google Hangout, and I will provide you with additional information regarding expectations for this section over the next few weeks.
  • Group Google Hangout #5.  I will recap your work from Week 4 and introduce your new tasks for Week 5.  We will discuss what you need to know about your industry and competition, and you will be able to ask me any questions you might have up to this point.
  • You will assess the competitive landscape within your industry–identify the major players and how much market share they possess as well as where your product/service/idea will best compete in the marketplace.  You will perform a structured Competitive Analysis and identify strategic opportunities for your business. Then, you will identify your strategic position and assess your risk using a SWOT Analysis to clarify your strengths and weaknesses and explore opportunities for your business as well as potential threats.
  • You will analyze the results of your research on all these topics and write a short narrative for each, before sending these to me for review.
  • I will then send you my comments with suggested revisions as needed.
  • You will also begin filling in the numbers on your financials wherever possible–you can change and update these as needed when you gather more details over the next couple of weeks.
  • Group Google Hangout #6.  I will recap your work from Week 5 and introduce your new tasks for Week 6.  We will talk about the importance of understanding your target market and outlining exactly how you will run your business day-to-day, which will also require you to identify the technology you will need to support these operations.  You will be able to ask me any questions you might have up to this point.
  • First, we will clarify what it is that your customers want–the primary research that you conducted with your Advisors will help here.  Then, you will decide how to deliver your message to your potential customers. What will your marketing strategy be and how will you structure your sales process?  After this, you will direct your attention inward at your company’s operations–how will you organize and run your business day-to-day? How will you produce or acquire, package, ship, inventory, control quality, and deal with customers (along with much more).  You will also consider what financial controls will need to be in place. With regard to Technology, are there any software or hardware requirements for your industry, and how will these change in the future?
  • You will analyze the results of your research on all these topics and write a short narrative for each, before sending these to me for review.
  • I will then send you my comments with suggested revisions as needed.
  • You will also continue filling in your financials wherever your can–you will change and update these as you gather more details over the final weeks.
  • Group Google Hangout #7.  I will recap your work from Week 6 and introduce your new tasks for Week 7.  We will talk about the importance of designing your management structure, identifying key milestones in the development of your business, and establishing a point in the future at which you will be able to sell your business or transfer ownership to any existing partners or family members.  You will be able to ask me any questions you might have up to this point.
  • Now is when you decide who will be responsible for making sure that your dream becomes a reality.  Who will be in charge of your company and who will be on the management team? What will each member of the team be responsible for?  How will your management team work together? Will you have an Advisory Board (not necessarily the same Advisors from your Feasibility Analysis)?  Will you hire consultants? What will your company’s philosophy be? How will you become involved in your community? What are your long term goals, and how will you achieve them? What are your key milestones along the way and when will you accomplish these?  How will you eventually make an exit from your business?
  • You will analyze the results of your research on all these topics and write a short narrative for each, before sending these to me for review.
  • I will then send you my comments with suggested revisions as needed.
  • You will continue working on your financials–next week you will finalize your projections.
  • Final group Google Hangout.  I will recap your work from Week 7 and introduce your new tasks for Week 8.  We will talk about how and why to create detailed financial projections, and you will be able to ask me any questions you might have up to this point.
  • Finally, you will create projections to answer the following questions: when will your business start making a profit? how much profit can you create? will you have enough cash to pay your bills? how much money will you need to launch and grow your business? where will you find this money? and what will you offer investors/lenders in return for funding your business?
  • The tools that you will use here include your Break-Even Analysis, Income Statement, Cash Flow Statement, Balance Sheet, and Sources & Uses of Funds.
  • I will provide you with the necessary instructions on how to create your financial projections, the purpose of each of these tools, and an understanding of how these tools all work together.
  • You will complete your financial projections using the material from each section of your business plan. Essentially, your Business Plan narrative explains how you will launch and grow your business, and your financial projections detail how you will fund your startup phase and future growth, how you will manage your cash, when you will begin making a profit, what you will do with that profit, along with much more.
  • I will recommend free software that you can use for all your financial projections, but you are welcome to use whatever you are most comfortable with.
  • After completing all of your financial projections and your request for funding (i.e. your Ask & Deal), you will send these to me for review.
  • I will review your work and send you my comments with suggested revisions as needed.
  • Finally, you will go through your Business Plan and make sure that you are comfortable with the final product.
  • You will then send me your completed business plan by the end of Week 8, so that I may review it and send you any last comments (I will provide you with my final comments within a week of receiving your completed Business Plan).

Limited enrollment to ensure maximum quality of individual feedback

Additional phases

Continue to Phase III or see Phase I again

Limited enrollment to ensure maximum quality of individual feedback

Phase III

Funding Your Business

Phase I

Testing the Feasibility of Your Business Idea

Frequently Asked Questions

Since Launch Your Business in 11 Weeks combines individual coursework with personal guidance and feedback, this is not your typical online course.  Once you have enrolled in a phase, I will reach out to you via email to set up a 1-on-1 Google Hangout during which I will introduce myself, explain the objectives and timeline for that phase, and discuss your initial business idea or current progress in my course.  From there I will send you the relevant course materials and instructions necessary for accomplishing each week’s tasks, and we will proceed through my course following the Timeline.  

Your computer, an email account, software for editing documents and spreadsheets (Microsoft Office or Google Docs and Google Sheets), along with plenty of energy and determination.

While I cannot guarantee that your business will succeed in the marketplace, that is what we will be striving for throughout this course.  At any rate, a large part of the value in going through Launch Your Business in 11 Weeks from beginning to end is that you will be receiving the same training and feedback offered to graduate students enrolled in an accredited MBA program.  The skills you will learn in each phase are invaluable for operating your business strategically and efficiently and will enable you to confidently proceed in developing your current business idea as well as any future idea you might have.

Although you should strive to follow the Timeline as closely as possible (so that you can launch your business without delay), I understand that sometimes life can get in the way.  My goal is to help you prepare your business for a successful launch, so in the event that you fall behind schedule in completing the weekly tasks, I will work with you to get back on track and on pace to completing my course as swiftly as possible.

If you need help with something related to this course, please contact me right away at terry.cornelison@bizactually.com–I will respond within 24 hours (but probably far sooner).

I will do everything in my power to accommodate your schedule when selecting a time for the weekly group Google Hangout.  However, if for any reason you are ultimately unable to attend, I will email you a recording of any session you miss. I will also be available 24/7 via email to answer any questions you might have (I will always respond to your emails within 24 hours).

Of course, I hope and believe that you will gain great value from working together with me.  However, if you are unhappy or unsatisfied with this program for any reason, I will provide you with a full refund, no questions asked.

Limited enrollment to ensure maximum quality of individual feedback