Effectively Completing the Operations Plan Section of Your Business Plan & How To Get Your Contact Details Across: When The Organizers
Dolly Kapil
The Operations Plan is a critical component of any business plan as it presents the Companys action plan for executing its vision. The Operations Plan must detail 1) the processes that are performed to serve customers every day (short-term processes) and 2) the overall business milestones that the company must attain to be successful (long-term processes).
Everyday Processes (Short-Term Processes) Every company has processes to provide its customers with products and services. For instance, Wall Mart has a unique distribution system to effectively move products from its warehouses to its stores, and finally to its customers homes. Technology products manufacturers have processes to convert raw materials into finished products. And service-oriented businesses have processes to identify new areas of customer interest, to continually update service features, etc.
The processes that a company uses to serve its customers are what transform a business plan from concept to reality. Anyone can have a concept. And more importantly, investors do not invest in concepts -- they invest in reality. Reality is proving that the management team can execute the concept better than anyone else, and the Operations Plan is where the plan proves this by detailing key operational processes.
Business Milestones (Long-Term Processes) The second piece of the Operations Plan is proving that the team will execute the long-term company vision. This is best presented as a chart. On the left side, there should be a list of the key milestones that the Company must reach, and on the right, the target date for achieving them. Sample milestones include expected dates when:
" New products and services will be introduced to the marketplace " Revenue milestones will be attained (e.g., date when sales will surpass million dollar mark) " Key partnerships will be executed " Key customer contracts will be secured " Key financial events will occur (future funding rounds, IPO, etc.) " Key employees will be hired
Additional text should be used, where necessary, to support the projections laid out in the chart.
The milestone projections presented in the Operations Plan must be consistent with the projections in the Financial Plan. In both areas, it is important to be aggressive but credible. Presenting a plan in which the company grows too quickly will show the naivet￩ of the management team, while presenting too conservative a growth plan will often fail to excite the potential investor who will require a high rate of return over a relatively short time period.
- New products and services will be introduced to the marketplace - Revenue milestones will be attained (e.g., date when sales will surpass million dollar mark) - Key partnerships will be executed - Key customer contracts will be secured - Key financial events will occur (future funding rounds, IPO, etc.) - Key employees will be hired How To Get Your Contact Details Across: When The Organizers Wont Let You
Have you ever spoken at an event and they wont allow you to give your details? Have you gone on the radio and they forget to announce where you can be contacted?
If your contact details are left out or if youre prevented from giving information, youll need to play the game a little smarter.
Understand that most reporters/radio announcers/organizers are quite accommodating. They understand that youre giving your valuable time in exchange for the publicity. But often enough youll run into someone whos power drunk or whose organization just wont budge.
And heres what Ive done. And you can do too.
Refer to your product or service many times in the speech. Give an example and say how that particular example coincides with the example on Page 34 or Page 65. Or in the third CD of your 20 CD Workshop. Or the FREE Report you gave at the last event. As long as youre making perfect sense, you will not be stopped or reprimanded. Your speech will meet the hosts guidelines, yet all the time youre leaking out information.
By the end of the speech, you should have created enough leaks for the audience to be extremely curious. Theyll want to know about Page 34. Theyll want to know about the FREE Headline Report you gave at the last event.
As your fame grows, you may not need to do any of the above. If the organization doesnt allow you to give your contact details you can refuse to do the interview/speech. However when youre starting out, you may crave the additional publicity and thats okay.
Be sure of one thing. Dont let your speech be random. Create leaks and watch how the audience swarms around you after the event!
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