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Need help with Video Production Business Plan and Executive Summary
I need some guidance in finishing a business plan and executive summary. My current employer is expanding into marketing and media and I have an opportunity to present a business plan to my current place of employment in hopes of a partnership.
I’m down to the projections and management portion of my business plan and I will need an executive summary to bring the whole plan together. I’ve hit sort of a brick wall when it comes to projections. I want to be realistic with projections as this is a start up but already have contracts in the works and some (albeit, some small income generated).
Currently I’m developing a short form business plan, just to get this plan on paper where I will be able to present to any interested parties and lenders.
I hope this is clear and understandable. Please feel free to post questions where I’m unclear or need clarification.
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3 Replies
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Sounds like maybe you’re a little excited/flustered. It happens to all of us, especially when such opportunities offer a major increase in status/work/quality of life.
I’d break it down to a few simple questions and then formulate your plan based on the answers to these questions.
Who will be your clients?
What services will your clients need?
What expenses will you incur providing these services?
Will you outsource to other vendors?
How will you generate more work? Salesforce?
What type of staffing will you have? Freelance, fulltime, or a combination of both?
What hardware/software will you be investing in?Depending on the full range of your plan, you may also need to provide a realistic overview of how long the new division will be profitless. Typically, 6 months to hit the blue is realistic, but it really depends on contacts, market size, and talent.
Hope that helps. Best of Luck.
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Who will be your clients?
Corporate and Commercial businessesWhat services will your clients need?
Corporate/Commercial training videosWhat expenses will you incur providing these services?
Tape, stock footage/imagesWill you outsource to other vendors?
YesHow will you generate more work? Salesforce?
Referrals, web marketing, guerilla marketingWhat type of staffing will you have? Freelance, fulltime, or a combination of both?
FulltimeWhat hardware/software will you be investing in?
Hardware/software is already established, may need upgrades or other utility programs. -
What are your skill sets?
Are you experienced in corporate/commercial video production?
Does your current employer’s business have a large base of clients/contacts you can tap into when introducing your new video services?
If you become a partner in the business, will you also be responsible for helping to cover losses? (Being a partner doesn’t just mean you get to share when times are good. It also means you get to pull money out of your pocket to help float the business when times are bad.)
What size market are you located in?
Are there several competitors doing exactly what you’d like to do? If so, what is their position in the marketplace? Are they high-end/high-budget, low-end/low-budget or do they fit somewhere in the middle?
I’m sure you have opened yourself up to a thousand+ questions with this post mainly because it is impossible for us to help you figure out what to project or how to write your executive summary if we don’t have a better idea for the contents of your business plan.
Keep feeding us info and we’ll do our best to get you on the right track. Good luck!
Kristopher G. Simmons
Video Business Coach
MindYourVideoBusiness.com
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