Business Plans for Shared Resource Labs The “Why” and “How” Joanne Lannigan, M.S. Director, Flow Cytometry Core So What is a Business Plan? Strategic vs. Business Plan Strategic Plan: What you want to achieve and why So What is a Business Plan? Strategic vs. Business Plan Business Plan: Detailed description of how objectives will be achieved Business Plan Strategic Plan Sacramento International Airport 6900 Airport Blvd, Sacramento, CA 95837 • Get on I-5 N from Aviation Dr 1.6 mi / 3 min • Continue on I-5 N. Take CA-113 S to Old Davis Rd in Solano County. Take the Interstate 80 E exit from CA-113 S 20.0 mi / 19 min • Drive to Old Davis Rd in Yolo County 0.8 mi / 2 min • Turn left onto Old Davis Rd 0.4 mi • Keep right to stay on Old Davis Rd 0.1 mi • At the traffic circle, continue straight to stay on Old Davis Rd 0.3 mi • Make a U-turn • Destination will be on the right 141 ft UC Davis Conference Center Distance 22.4 miles Time 24 mins Do I Really Need a Business Plan?? Yes!!! And here’s why: Plans that happen haphazardly or reactively are never the best laid plans Do I Really Need a Business Plan?? Yes!!! And here’s why: Evaluating resources, customers and competitors provides the framework from which the plan will be derived Do I Really Need a Business Plan?? Yes!!! And here’s why: The exercise itself will give you a better handle on the big picture Do I Really Need a Business Plan?? Yes!!! And here’s why: Objectives and goals will be better defined Basic Format of a Business Plan I. Executive Summary - Highlight Key aspects of the plan - Best written in the end - Serves as a concise description of what is to follow - ½ page II. Rationale - Why is the core needed? -What makes this core unique? -Provide a historical justification of the core’s value Basic Format of a Business Plan III. Description of the core -Mission of the core -Organizational Structure -Core services offered -Location -Equipment -Access and Operational Plans IV. Demand for Services -Who will use the facility/service? -What is the anticipated usage? -What is the basis of the anticipated usage? Basic Format of a Business Plan V. Analysis of competition -Who are the local/external competitors? -What advantage does the core have over its competitors? -What do competitors have that may pose a threat to the success of the core? -Include market rate analysis VI. User Fees & Pricing -Associated costs and pricing for each service -What are other sources of revenue (subsidies)? -Include price matrix -How do prices compare with market/competitors? Basic Format of a Business Plan VII.Implementation Plan -Provide timeline, milestones and describe what has already been accomplished -Marketing Plan -Usage tracking, billing and collection processes -Review process for success and evaluation of customer satisfaction VIII.Budget -Budget justification narrative -Identify sources of funding/subsidies required -How do you plan to deal with profit/deficits? Basic Format of a Business Plan IX. Future Plans -New Services/Markets -New equipment purchases -Anticipated space/facility changes -Future threats X. Appendices -Detailed 3 year budget; expenses and revenue -Detailed rate calculations -Market rate comparison chart -Table of organization -Historical usage data Important Characteristics of a Business Plan Achievable Easy to Read Concise Accurate Action Oriented Believable Compelling In Summary • The purpose of your Business Plan is to support the successful implementation of the programs identified in the Strategic Plan of your organization • The Business Plan provides a detailed description of how objectives will be achieved, along with the necessary justification • A good Business Plan makes a compelling case to those who must approve it and provide the required funding or other necessary resources For more info contact the MADSSCi/SEASR Planning Committee [email protected] Thank you for your attention! Questions???