What is a business plan?

[waialua359]

Originally Posted by cmh0114

What exactly does a business plan entail? Are there any teams that use their business plan to make them self-sufficient -- so that they don't need as many sponsors from year to year?

I'm surprised someone from the the ThunderChickens would ask.
You folks figured out how to be successful in FIRST a long time ago.

[cmh0114]

I think I just had the wrong idea of it. I thought it was on how to make your team a viable business. Silly me.

But yeah, I've noticed that our team really isn't as short on money as some other teams, which I guess would be thanks to our business plan. One of my friends on another team mentioned that their team was already a few thousand dollars in the hole.
But, they're a new team, and hopefully they'll manage to find a few companies that can help sponsor them. All the same, it makes me realize how great it is that we have people on our team that know what they're doing with the money. And I'm glad it's not me, or we'd be broke before any competitions even started.

[ebarker]

Business plan -
- what are you 'in business' for, what are you trying to accomplish ?
- what's the strategy and tactics ?
- etc !!!

Question, actually 3 questions

Q. What does Krispy Kreme sell ?
A. goods. specifically donuts

Q. What does a barbershop sell ?
A. services. haircuts

Q. What does the Red Cross 'sell' ?
A. Their mission !!!

Moral of the story ?

Your team should have a business plan that explains what you do and and how you do it. If you have a mission or objective along the lines of an inspirational non-profit then you should be selling mission. If your audience 'buys' your mission then you will likely earn income.

If you are just exercising yourself in participating in hobby without impact, you are probably selling donuts.

A well run 'business' has a business plan. A well run non-profit 'non-business' has a business plan too !!

With all due respect to Krispy Kremes.