The One-Hour Business Plan

A strong business plan greatly increases a business chance of success, especially in an economic environment in which more than 50 percent of businesses fail within three years. Your business plan can serve as a foundation for your successful business. The One-Hour Business Plan, written by seasoned entrepreneur and business instructor John McAdam, helps you lay that foundation. With the help of this book, aspiring entrepreneurs can write a viable business plan in just one hour.

• Offers step-by-step guidance on the process of writing a business plan, with field-tested instructional techniques that are simple, strong, and easy to implement
• Written by John McAdam, a "been there, done that" hired CEO and serial entrepreneur with decades of real-world experience, who helps ordinary people become entrepreneurs and helps entrepreneurs become successful

The One-Hour Business Plan outlines a process and a framework for creating a business plan that sets you up for success. Give your business the best odds for success, in just one hour of your time.

Setting the Tone ix

Introduction xi

Why These Cornerstones Build the Best Foundation for Any Business Plan xvi

Module 1

What Are You Offering? 1
Create a Value Proposition That Makes a Stronger Business Model

The Need 5

The Solution 8

Features versus Benefits 10

Advantages 14

Written Exercise: Write Your Value Proposition 19

Value Proposition Exercise #1—The Value Proposition Building Blocks 20

Value Proposition Exercise #2—‘‘What Do You Do?’’ 22

Value Proposition Exercise #3—‘‘What Do You Want?’’ 24

Module 2

Who Are You Offering To?

The Customer Target Market 27
The Only Sustainable Source of Business Funding for the Long Term

Customer Target Market Introduction 29

Market Size: The Addressable Market 31

Customer Demographics and Demographic Profiles 33

Customer Categories 34

Second-Phase Customers 35

The Customer Target Market Funnel 35

Public Relations 38

Advertising 41

Marketing 44

Sales 47

Written Exercise Preparation 51

Customer Target Market Exercise: Methods and Lists 52

Module 3

Who Are Your Competitors? Competitive Positioning 55
Viewing Your Offering Through Your Customers’ Eyes

Competitive Positioning Table Exercise 64

Module 4

What’s Next? Next Steps 69
What Milestones and Action Plans Do for Your Business

Milestone Introduction 72

Business Milestone Definition 76

Essential Elements of a Business Milestone 78

Examples of Business Milestones 79

Milestones in Practice: Sandbagging, Overstatement, and Balance 81

Action Plan and Goals Defined 84

Milestone Quality Control Check: ‘‘Stiflegoal’’ and ‘‘Stiflestone’’ 86

Milestone and Action Planning Worksheets 89

Module 5

How Much Money Will You Make?

The New Offering to Cash Mini-Budget 93
A Simple Way to Predict How Much Money You Will Likely Make

How Much Money Will Your Business Model Make? 96

Selling Price 102

Average Sales Cycle Time/Customer Acquisition Time 105

Unit Sales Forecast 107

The New Offering to Cash Mini-Budget Worksheet Exercise 112

Conclusion: Pulling It All Together 117
Using Your One-Hour Business Plan to Earn Customers Today

I Love Beta Users of Innovations and You Should, Too 127

CEOs and Entrepreneurs Have a Lot in Common 130

Other Applications of the One-Hour Business Plan 132

On the One-Hour Business Plan Concept— Is It a Gimmick? 137

Get Feedback on Your Plan Foundation from Advisors, Colleagues, and Mentors with Successful Exits 139

Benefits of Sending Us Your Worksheets 142

Help Us Get the Word Out—This Works! 143

Final Thoughts 147

Acknowledgments 153

Index 159

JOHN McADAM has decades of businessexperience as a hired CEO, serial entrepreneur, and instructor. He holds an MBA from the Wharton School and has taught strategic business planning at the Wharton Small Business Development Center for years. Quoted in business publications such as Inc., Success, Crain's New York Business, Business News Daily, and Wharton Alumni Magazine, John McAdam also speaks for organizations, having been a frequent radio guest and guest speaker on NBC10 Philadelphia Small Business Week and Money Matters TV. To book John McAdam, visit http://planfoundations.com.

The One-Hour Business Plan addresses the hardest part about writing a business plan—getting started. In one hour of writing time, the reader will have a business plan foundation to take their innovation to market. The author wrote this after seven years of observing 1,000+ business plans and field testing. This works!

Through actionable guidelines and detailed, real-life examples, The One-Hour Business Plan steers you through the process of writing a business plan foundation quickly while preserving your limited time and financial resources. Whether you're an experienced entrepreneur or a first-timer with a million-dollar idea, you can learn and benefit from the "five essential business plan cornerstones" that serve as the foundation of any successful business. Seasoned entrepreneur John McAdam identifies the most critical ingredients in successful business plans for sustainable businesses.

With a straightforward personable style and interactive reader exercises, The One-Hour Business Plan teaches you how to:

• Create a value proposition that makes a stronger business model
• Determine your customer target audience and reach your most receptive market
• Examine your proposal through a critical customer's eyes
• Set milestones and action plans to guide your business
• Predict how much money you will make and how successful your business will be

These five cornerstones will ensure that your business plan is effective. Ideal for any beginning entrepreneur, business owner, or experienced tycoon looking to gain an edge, The One-Hour Business Plan is an efficient, one-hour primer that will help you start thinking about a new business or doing something new with your old one.

After reading this book, you might want some guidance on your business planning worksheets. If so, then submit your worksheets for brief but pointed free feedback and a trial business club membership at http://planfoundations.com/trial.

The One-Hour Business Plan™ addresses the hardest part about writing a business plan—getting started. In one hour of writing time, the reader will have a business plan foundation to take their innovation to market. The author wrote this after seven years of observing 1,000+ business plans and field testing. This works!

Through actionable guidelines and detailed, real-life examples, The One-Hour Business Plan steers you through the process of writing a business plan foundation quickly while preserving your limited time and financial resources. Whether you're an experienced entrepreneur or a first-timer with a million-dollar idea, you can learn and benefit from the "five essential business plan cornerstones" that serve as the foundation of any successful business. Seasoned entrepreneur John McAdam identifies the most critical ingredients in successful business plans for sustainable businesses.

With a straightforward personable style and interactive reader exercises, The One-Hour Business Plan teaches you how to:

• Create a value proposition that makes a stronger business model
• Determine your customer target audience and reach your most receptive market
• Examine your proposal through a critical customer's eyes
• Set milestones and action plans to guide your business
• Predict how much money you will make and how successful your business will be

These five cornerstones will ensure that your business plan is effective. Ideal for any beginning entrepreneur, business owner, or experienced tycoon looking to gain an edge, The One-Hour Business Plan is an efficient, one-hour primer that will help you start thinking about a new business or doing something new with your old one.

After reading this book, you might want some guidance on your business planning worksheets. If so, then submit your worksheets for brief but pointed free feedback and a trial business club membership at http://planfoundations.com/trial.