Business Plan Writing 101: Wharton Entrepreneurship Series
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- čas přidán 15. 06. 2015
- Wharton Entrepreneurship Workshop, “Business Plan Writing 101,” featuring Patrick FitzGerald, C’97, Managing Director of DreamIt Ventures. FitzGerald discusses what is required to write an effective business plan.
#entrepreneur #businessplan #wharton
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Founded in 1881 as the world’s first collegiate business school, the Wharton School of the University of Pennsylvania is shaping the future of business by incubating ideas, driving insights, and creating leaders who change the world.
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I came here to learn how to trade after listening to a guy on radio talk about the importance of investing and how he made 460,000k in 4 months from 160k. Somehow this video has helped shed light on some things, but I'm confused, I'm a newbie and I'm open to ideas.
Investing in stocks is a good idea, a good trading system would put you through many days of success..
@@Gracej34 I’ve been on both end of the spectrum, I was investing on my own for about 3years, did my own study and analysis before actually buying, things became rather difficult after the pandemic which was right about when I reached out to a portfoIio-advisor for guidance, It’s been over 2 years and I’ve scaled up a stagnant reserve of $280K to $700k in just about 24months.
@@FeliciaJudge
@@jamesclay234 The adviser I'm in touch with is ''Elizabeth Pan Holt'' she works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else, for me her strategy works hence my result. she provides entry and exit point for the securities I focus on
@@FeliciaJudge I must say you are an inspiration because I started up investing and trading as a scared investor who doesn’t want to lose money, glad to say I’m very profitable now and bought my first house through it
00:08 - Opening
01:52 - Outline
02:54 - 1) What is the company? (Intro)
05:54 - 2) Who am I giving $$ to? (Mgmt Team/Bio)
08:50 - 3) How does it work? (Operations/User Experience)
20:10 - 4) Where does it belong? (Marketplace)
29:29 - 5) Why hasn't this been done? (Competition)
23:23 - 6) How quickly will I know if I will make or lose my money? (To Market Strategy/Roadmap)
33:12 - 7) What are the numbers? (Revenues)
37:55 - 8) How much do you need? (The Ask)
40:11 - Questions
Thank you for the timestamps. They really helped me revise the lecture.
This should be pinned.
Yeah good idea
or just watch the video... what a concept....
Not all hero’s wear capes
FINALY, A VIDEO THAT REALLY EXPLAINS HOW TO MAKE BUSINESS PLAN!!! THANK YOUUUUUUUUUUUUUUUUUU!!!
Nice
THANK you!!!!!!
Is there a part 2?
thankl you samir
there is the classic store
let's call it 1.0
products almost never change
the owner chose the products
it is boring
now, there must be a new store
let's call it 2.0
products always change
people choose the products there will be via an app
on the app, there is a huge catalog, people choose the products that will show up in the store
the store is constantly being supplied with the products people choose
God Bless the guy who came up with recording it!! By getting a degree in Business I still have never received such a good lecture. Thanks from the bottom of my heart!
SERIOUSLY!!
Writing a business plan, plain and simple. An information video for those starting up.
it's 2024 and I'm only 7 minutes in and I'm learning so much 💕💕 This is getting me pumped!
"You are going to build it and no one is going to come. How are you going to get people to use your product/service?" This whole seminar was fantastic. I loved the audience engagement throughout- thank you a ton!
that is what advertisings for.
Lies again? Powered By AWS
This video just helped me land a deal for larger manufacturing space, additional mid-volume manufacturing contracts, and 6 months of working capital in an equity deal. All in one day! Great work y’all!
Congratulations Tyler. That's amazing stuff. All the best!
This was perfect. This guy can start an online class he would kill it.
An important aspect of entrepreneurship that tends to go undiscussed. Thanks for sharing.
This is awesome. Thank you. I will probably watch this video several times over as I write my business plan.
Have you completed it by now?
@@sourabhparit5491 Yup. And I live in a different state now. I have one of my very good friends help me run it. He's my manager.
@@jackiechan6460 Good for you👍👍
@@sourabhparit5491 Thanks. Put in the work and you'll eventually enjoy it.
Did u finally write your business plan?
This was FANTASTIC. Thank you for sharing this high-level knowledge and experience.
I guess "a student surfing on facebook" is a must for these kind of educational videos.
Best presentation ever. Experience was priceless. So helpful. Amazing!
There are so many different variables in running a business. One of the biggest issues is how diverse that business may be with the people/employees and how they can make up a solid foundation for any type of business.
Strategies, meetings, decisions, etc… All of this comes from a group of individuals that have their own way of viewing and doing business.
Their diversity is what makes them strong.
Thanks for sharing this amazing post.
diversity is not a strength. this is a b-school platitude. businesses require 100% alignment of vision.
The diagram has life u see everything a business need to come alive, genius work done by a genius. Thanks
This guy is a great teacher. He gave me the same feeling that I get from watching Shark Tank.
I answered the opening challenge question successfully. It gives me confidence knowing that I am on the right path to financial security combined with being of service to others with my new business venture. This is a phenomenal video for all. Thank you Patrick.
Massively helpful information. Thanks!
My compliments to Wharton School for this concrete video related to business plan writing, that touches all main aspects of business planning
Comprehensive. Educational and effective planning. Thank you 🙏🏼 for this.
How are you going to make money?
What are your costs?
How are you going to grow?
How are you going to take your company to the next inflection point?
Deceptively simple questions. Thank you for this insightful video!
Hoo.This is it.Bring it on.Let’s learn.
Wish all my teachers were like this guy
hjjjkkoppppp
Teachers who really know their xxxx usually go to the business, "no one has time to repeatably comfort that ignorant teen." as one of my favorite lyrics goes.
Is it me or he looks slightly like Chandler?
Great video anyway. Very informative, real life example but yet not boring. That's exceptional. Plus he looks really a humble guy. Like if i meet him and ask "Sir can you help me with this busniess plan, he will actually sit and help me write it."
I believe he really would!
This is incredibly helpful and precise. Thank you so much!
what a brilliant presentation! Wow! i've been looking at samples for the past week but the way he explains it is so simple and easy to do. Thank you
I wish I could have watched this video 10 years ago. However, I hope it will not be too late. Well explained!
Great video! Thanks for posting this wonderful classroom lecture.
I wish there was a microphone to hear the student questions and responses..
Love this video it really helped me set up my steps and cut it in half my top 500 start-up is close to being finished thanks to your video
I feel like I'm back in school :) Great advice and ideas to start off with.
A lot of great info they NEED to teach in school.
Very, informative. Suggestion- I would love subtitles for the questions from the students or raise up the audio volume for their voice.
Cecilia Kim I appreciate speakers who specifically repeat the entire question prior to answering it.
Excellent advice, I’m actively involved in the financial market, since I got to understand how trading works better. I follow these general simply rules and this has worked amazing for me. Diversify, dollar or pounds cost averaging investing method, portfolio re-balance every quarter and I’ve found a mix of managed and index funds has worked out the best for me.
I’m aware it liquidates cash easily on different capital spreads, What are your thoughts on a developed market for long term growth potential?
Dave Gustavo these are suitable steps for seeking greater cash flow on long term trends but if things were that simple, one could just set their asset allocation variables and let it ride. Never forget all market commodities is as unpredictable as a sunspot and assets prices drives the economy.
@@kimothyolsen3858 about 78% of my portfolio is in passive index funds and ETFs. I’ve an account manager with a taxable brokerage that I invest in stocks and commodities. It’s comfortable for me this way, I made another purchase in September. We’ll see how it does over time I feel like even if 20% of my portfolio underperforms, I’ll still generate income from other spreads. Better than spending my money on an expensive car or vacation lol.
@@davegustavo4726 I have considered putting into practice this investing method. Without doubts i believe a financial consultant is preferred. How do I get to begin with your help?
@@andrescastillo2043 Don’t try to time the market, don’t think you’ll be able to sit in cash until stocks are a good buy. Just dedicate yourself to a managed service, stick with it, rebalance annually and get colossal profits.
Cant believe how greatly detailed this was. Simply Amazing. Thank you.
I’m here too. Let’s see
Thank you just wish the audio for question from the class was better it was hard to hear, but that's minor. Thank you again.
Thank you so very much! Very helpful as I write my business plan
Shared video with my college business class, this video was very informative.
Awesome and very clear explanation of a topic! Brilliant! Thank you, Patrick!
I'm in the process of doing this right now. This was super helpful!
Very Happy I came across this video. I am sure I will watch this more than once in achieving my written my business plan as well.
This was great. I’d love to see a lecture on product pricing. What to consider in the price tag of your services
"So, you're a serial entrepreneur....." I won't bother with the rest but VERY. GOOD. QUESTION by the black student at the end with the glasses.
Awesome lecture! Thanks for sharing!
thank you for sharing this informative video would love to see the whole series on business 101 and advance level.
Wonderful workshop. Thank you.
Thank you very much. Very informative and helpful.
Thanks for the teaching
Awesome educational (simple) instruction. Enjoyed. My son wanted to watch too. I chuckled watching the late student in stealth mode with a few on Facebook during class, lol.
😉 Facebook wasn't even developed during my college years, lol.
Great video - You can tell the guy has had a lot of real world experience
glad i found this. very helpful. especially being a philly resident it's nice to know Patrick is in the area. thank you
Learnt a lot..
Thank you..
Super helpful, thank you :)
Thanks for a very nice lecture
Excellent presentation. Just wrote a business plan while watching this presentation. It is simple and has impact.
How’s the business going
@@imthebest7290 - Thanks for asking. I just saw this in my email and forgot all about this seminar. I have a business that I started in 2018 and last year we did 16 million in Revenue - currently facing some challenges and some great opportunities for new growth.
THANK YOU! So much value :)
Great lecture! I wish I saw this years ago.
Great video, you went in depth on the topics !
I was looking for this past month... nicely explained
You can see this info bro! Clear and concise.
Great video. Thanks for sharing.
This was excellent! Thank you
Thanks for Sharing!!!
Thank you! very helpful
6. Competition - Why hasn't this been done?
- be careful, an idea without a competitor means there's not enough traction
- try to find competitors even if it's loosely connected, highlight strengths+weaknesses, 4-5 max competitors
- show that it's a healthy space, not a brand new space
- what could be a competitor? try to find people you think could acquire you
- industry competitors (not exactly what you're doing, but in your space, could do what you do with some capital)
7. Revenue - What are the numbers
How are you going to make money? - revenue stream: core/ancillary
- core revenue stream has to be clearly defined
What are your costs?
8. The Ask - How much do you need
X amount of money to do the things in the roadmap, to fund user experience,
simple, basic BE CLEAR: ex) $400,000 for 18mths, looking to achieve 4 things in roadmap
hire with equity and options, hire slow and fire fast. don't necessarily need to hire, can give options not equity.
- don't mention the deal, (structuring) gotta get them excited, don't throw ppl off
The ME Test: test it against yourself,
The WE Test: go out into the world
once you can nail the 2-sentence pitch, the rest you should be able to do in 8 sentences.
Thank you very much, great explenation.
35:12 summarizes it perfectly
36:49
Great workshop! Very useful.
Thanks for sharing!
Great video. Thank you
Thank you it is very helpful!!!
Thanks for the video. well done - i learnt a lot from it. Thanks.
Thank you for this video. I got lot of value from it. Love from India :) Great proffesor!
Even the student knew "Fiverr" was on to something special just by her mentioning the company in its infancy. Impressive on Fiverr's part & the keen "eye" of the student.
thanks from ClipInMedia e commerce experts!
SO HELPFUL. Wish he didn't skim over sections that were relevant to launching a product as opposed to a tech-based business idea, but very valuable information with a lot of applicable ideas.
The girl with the Fiverr comment was ahead of her time. Big ups
Thank you for your insight.
This is great material. 4 step process very good idea
I could see this being helpful if I were starting a business with a product I created selling to a market I have to also create. If you're starting up a toy store in a city with no toy stores I dont know why you'd need a one sentance pitch or an advisory team
Excellent explanation!
great video, very helpful
Well worth the watch
very excellent presentation for me!
It really feels as if i'm in the classroom;)
great content, thanks
finally i now know how to make business plan. thanks
Great info! Needs more views.
Its very informative Post Thanks for Shearing this idea
Wharton is the top in business
I LOVE THIS THANK YOU
This video was well worth checking out for aspiring entrepreneurs, like myself.
Great session!
This is awesome.
Great insights.
I’m starting a business while I’m in undergrad! Very helpful :)
I recommend charlhack on instagram. He helped me to get 50k instagram followers on my instagram business account. If you wish to get yours too. Dm charlhack on instagram
How did it go?
Very good information, I didn't know where to start.
Amazing!