Wednesday, August 20, 2014

Building a Business Plan: The basic components video, and IP too.

Building a Business Plan: The basic components - YouTube: "

Here's the basics about a business plan by yours truly, Dr. Elmer Hall, President of

Strategic Business Planning Company. We help develop the plans that every business needs(tm).

A business plan helps to plan out the future of the business and estimate its profitability. Also, as the company grows quickly it may outgrow itself. That is, you can fund the growth with profits, but if you exceed that rate then outside funding will be needed. Look at the sustainable growth rate model in finance.

This is the basics of a business plan, but we modify a basic business plan to accommodate Intellectual Property protection (read, sustainable competitive advantage). As you watch Shark Tank to see how venture capitalist think, you will see how seriously important intellectual property is to the success of a business -- and the likelihood of a shark investor taking a BIG bite of the action.

A business plan would likely include these component, as shown in the video, and then have some modification to show the (potential) strength of the IP. We call this IP-centric plan a Patent Business Plan., or for larger companies an IPplan.

Look at the Patent Primer to get an idea of the various aspects of IP and how to build a strong patent competitive advantage.

As it pertains to environmental sustainability -- triple bottom-line planning -- look at discussions over at The plan here would be a specialized business plan we call a Sustainability Plan. This would be a business plan that also maps out moving to full zero foot print over time: say 5, 10, 20 years, depending on the business/industry.

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