Building a Business Case

1. Building a Business Case Dan Devlin April 2, 2012

2. Why is it necessary? • Plan for success • Build the roadmap to your goal • A chance for you and your team to spot challenges and opportunities ahead of time • Involve as many people as possible on your team. Inclusion creates a sense of ownership and commitment!

3. For example…. • Creation of a new “Healthy Living” off-site clinic aimed at the prevention and effective management of chronic diseases.

4. Business Case Outline • Executive Summary • Plan Overview • Products and Services • Industry Overview • Marketing Strategy • Operations Plan • Financial Plan

5. Executive Summary • Should be 1-2 pages long at most! • It provides the overview of your entire concept including: • Key objectives • Management team description • Explains your product or service • Defines your target market • Describes any competitive advantages • Highlights proposed marketing strategies • Concise summary of financial projections

6. Business Plan Overview Include details of the: • History of your business • Vision or mission • Objectives and Risks • Ownership structure (or chart of key decision-making personnel if more appropriate)

7. Products and Services Give more detail on your product or services: • Benefits • Competitive advantages • Details about how your product or service will be created and where

8. Industry Overview • Your chance to show how and why your concept will be successful! • Describe and discussthe size/current state of your industry and any relevant growth trends. • Clearly explain your understanding of what motivates your target customers. • How do your target customers currently access products?

9. Marketing Strategy • Describe your target market segments in detail. • Who or what is competing against you? • What makes your product unique and ultimately desirable to the consumer? • Detail your proposed pricing and promotional plans. • How will you market your product to your proposed customer? “Traditional” advertising vs. Social Media strategies?

10. Marketing Strategy (continued) • Competitive advantages, marketing strategies, and a summary of your financial projections. • Remember to include the proposed cost/value estimates for each approach. • Finally, describe how your product will be sold (e.g. storefront, on-line, through wholesalers) and the buying patterns for your target market segment.

11. Operations Plan • Provide an outline of your management team personnel sharing their relevant experience. • Describe your business location and facilities. • Provide an overview of your proposed day-to-day operations.

12. Financial Plan Perhaps the MOST important part of the plan and may take a majority of your preparation time! • Need to show 3 years of projected financial statements. • Be sure to document all of the assumptions that you used in creating your projections of revenues and expenses. • No wild guesses allowed here! Be prepared to defend your financial projections. If the numbers don’t work….there will be a black cloud over your project. Not likely to proceed!

13. Remember……. • You never get a second chance to make a first impression. • A well researched and clearly presented business case can be the deciding factor on whether your endeavour is EVER given serious consideration! • Confidence is contagious! This is your first and perhaps best opportunity to convince decision makers that you have prepared diligently and have all the tools in place to achieve success!