How to Create Your First Business Plan

A presentation at WordCamp US in November 2019 in St. Louis, MO, USA by Francesca Marano

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How to Create Your First Business Plan Francesca Marano #WCUS

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Ciao! Sono Francesca WordPress Community Manager at SiteGround @FrancescaMarano

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What is a business plan? @FrancescaMarano

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A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals. Wikipedia

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Plain language A way to find clarity amongst all the wonderful ideas you have A document to write those ideas instead of keeping them in your head A map to help you navigate even through the dark @FrancescaMarano

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Agenda Work together on some the most important elements of a business plan for our colleague Emma Get pumped about working on your business plan @FrancescaMarano

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Emma = WordPress Pro Jack = Business Pro Creative Agency @FrancescaMarano

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Emma = WordPress Pro @FrancescaMarano

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Тhe business plan answers: What am I doing? What do I expect to get out of it? How can I get it? What could fail? @FrancescaMarano

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Elements of a Business Plan Product Definition Target Client Definition Industry analysis Market Analysis and offer Financials @FrancescaMarano

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Exercise 1 What is Emma’s product? @FrancescaMarano

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What is Emma’s product? @FrancescaMarano

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Exercise 2 Who is Emma’s client? @FrancescaMarano

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What is Emma’s Target Client? @FrancescaMarano

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Exercise 3 What does the industry look like? @FrancescaMarano

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Porter’s 5 Forces Bargaining Power of Buyers Threat of New Entrance Competition Bargaining Power of Suppliers Threat of Substitutes

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Exercise: 3 - 20 min Porter’s 5 Forces on WordPress Industry Power of Suppliers Power of Buyers Threat of New Entrants Threat of Substitutes Competitive Environment

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Exercise 4 What are Emma’s values? @FrancescaMarano

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Authenticity Achievement Adventure Authority Autonomy Balance Beauty Boldness Compassion Challenge Community Competency Contribution Creativity Curiosity Determination Fairness Faith Fame Friendships Fun Growth Happiness Honesty Humor Influence Inner Harmony Justice Kindness Knowledge Leadership Learning Love Loyalty Meaningful Work Openness Optimism Peace Pleasure Poise Popularity Recognition Reputation Respect Responsibility Security Self-Respect Service Spirituality Stability Success Status Trustworthiness Wealth Wisdom And the list goes on!

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What are Emma’s values? @FrancescaMarano

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Exercise 5 What is Emma’s offer and how does she communicate it? @FrancescaMarano

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The 4 Ps of Marketing Product Place Offer Price Promotion

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Exercise 5 - 20 min The 4 Ps of Marketing Product Place Promotion Price

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Budget @FrancescaMarano

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Financial Management Balance Sheet Income Statement Monthly Cash Flow Projection @FrancescaMarano

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Let’s continue the conversation Francesca Marano francesca.marano@siteground.com Where to find me next: WordCamp US SiteGround Booth, Hallways, Contributor Day Online Twitter: @FrancescaMarano Slack: francina In Person Probably a WordCamp near you WCEU for sure