Business Plan Writing 101: Wharton Entrepreneurship Series

[@Jesus.Hernandez]

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

[@vedantyogesh8519]

Thank you for the timestamps. They really helped me revise the lecture.

[@MisterExclusiv]

This should be pinned.

[@martinthomas4578]

Yeah good idea

[@thorthenoob2588]

or just watch the video... what a concept....

[@blakerich5804]

Not all hero’s wear capes

[@SDRsUnited]

FINALY, A VIDEO THAT REALLY EXPLAINS HOW TO MAKE BUSINESS PLAN!!! THANK YOUUUUUUUUUUUUUUUUUU!!!

[@sigeroma6853]

Nice

[@memefreak2738]

THANK you!!!!!!

[@amranow8783]

Is there a part 2?

[@olsen99q]

thankl you samir

[@Zo-hc2fn]

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

[@jose-fischer]

At the very least, I now grasp the concept of leverage. Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely.

[@Gladys_smith]

Most people simply enter the foreign exchange market without comprehending matters like this. The first stage in building money is determining your goals and risk tolerance, which you may do on your own or with the assistance of a financial counselor who works with a verified Finance agency. And also you can learn the facts about saving and investing and create a clear plan, you should be able to acquire financial security over time and enjoy the benefits of income management.

[@luis-gabriel1]

That is why I work with John Desmond Heppolette, who introduced me to a better Financial community, a verified agency where I learned how money works and how to create it, as well as free books, courses, and daily lectures. You also get to meet new people, which was the best decision I ever made.

[@christianaemilio1]

I've been making more than six figures passively investing with John Desmond Heppolette, who showed me the right community to join and grow mv finances and I don't have to do much work. It doesn't matter if the market is crashing, I will always make returns.

[@Gabrielle..]

Working with a financial advisor who has worked in a solid financial firm for a long time, such as John will actually set you up for success in life. I'm delighted I was able to reach out to "John Desmond Heppolette" earlier this year because while others were grumbling about the downturn in the markets due to the state of the economy, I was busy learning from him and eventually made over seven figures in the first quarter alone, which is why it's always good to join the correct community.

[@andymarion]

Great information, finding John Desmond Heppolette, was a simple process. Before we planned our phone call, I made a research of his full names online, based on his online resume he appears to be knowledgeable and well accredited..

[@vladyslavleonov7873]

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!

[@ReviewBae]

SERIOUSLY!!

[@SquatSimp]

"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!

[@Formula-1-Redemption]

that is what advertisings for.

[@NazriB]

Lies again? Powered By AWS

[@tylerroe5175]

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!

[@ginatembo8003]

Congratulations Tyler. That's amazing stuff. All the best!

[@BizBob2]

Writing a business plan, plain and simple. An information video for those starting up.

[@Y.AndreaRusso]

It's funny how no one in the room really has any idea of what they want to do. This is why studying entrepreneurship in a classroom is ironic. I wouldn't be here if I didn't have a crystal clear vision of what I'm building. This is the beauty of youtube. As someone who couldn't afford a Wharton degree and probably wouldn't get in any way I'm able to access the same resources as those who did. Stay hungry. May you all build the companies that shape the future of our great country.

[@manujagro]

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.

[@mikemoore2119]

diversity is not a strength. this is a b-school platitude. businesses require 100% alignment of vision.

[@lasko2]

This was one of the most important videos for me when I was starting my business, cannot recommend this enough this guy knows his stuff

[@jasoncuza9180]

An important aspect of entrepreneurship that tends to go undiscussed. Thanks for sharing.

[@themultifacetedmami]

it's 2024 and I'm only 7 minutes in and I'm learning so much 💕💕 This is getting me pumped!

[@jb7720]

Its great videos like this that I love YT for .

[@skcollins1212]

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.

[@jackiechan6460]

This is awesome. Thank you. I will probably watch this video several times over as I write my business plan.

[@sourabhparit5491]

Have you completed it by now?

[@jackiechan6460]

@@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.

[@sourabhparit5491]

@@jackiechan6460 Good for you👍👍

[@jackiechan6460]

@@sourabhparit5491 Thanks. Put in the work and you'll eventually enjoy it.

[@manuvies]

Did u finally write your business plan?

[@SuperTimawa]

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!

[@MrY4li]

This was perfect. This guy can start an online class he would kill it.

[@EspertoBusinessPlan]

My compliments to Wharton School for this concrete video related to business plan writing, that touches all main aspects of business planning

[@emilybrown2719]

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.

[@Gracej34]

Investing in stocks is a good idea, a good trading system would put you through many days of success..

[@FeliciaJudge]

@@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.

[@jamesclay234]

@@FeliciaJudge

[@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

[@margaritasbunny]

@@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

[@simonettezulu6576]

The diagram has life u see everything a business need to come alive, genius work done by a genius. Thanks

[@Christimony222]

This guy is a great teacher. He gave me the same feeling that I get from watching Shark Tank.

[@benjaminmones7192]

Best presentation ever. Experience was priceless. So helpful. Amazing!

[@davegustavo4726]

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.

[@andrescastillo2043]

I’m aware it liquidates cash easily on different capital spreads, What are your thoughts on a developed market for long term growth potential?

[@davegustavo4726]

@Kimothy Olsen 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.

[@tonydhaliwal989]

@@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?

[@davegustavo4726]

@@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.

[@davegustavo4726]

*Afx_solution* on telegram

[@ponnokutir3436]

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."

[@leninasconchshackrestauran7297]

I believe he really would!

[@jcbecker7725]

Excellent presentation. Just wrote a business plan while watching this presentation. It is simple and has impact.

[@Leshgetit2025]

How’s the business going

[@jcbecker7725]

@@Leshgetit2025 - 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.

[@nditzify]

Wish all my teachers were like this guy

[@amol12011982]

hjjjkkoppppp

[@ogdumplings8196]

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.

[@CebiGreen]

I wish I could have watched this video 10 years ago. However, I hope it will not be too late. Well explained!

[@ProfGregJones]

This was FANTASTIC. Thank you for sharing this high-level knowledge and experience.

[@stardommansion6773]

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.

[@franklippincott680]

Appreciate it

[@liverightcredit4734]

Cant believe how greatly detailed this was. Simply Amazing. Thank you.

[@K-WAYY]

I’m here too. Let’s see

[@Eiledon23]

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.

[@lee-annegovender9584]

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

[@jewishboi3384]

I’m starting a business while I’m in undergrad! Very helpful :)

[@jamesward3529]

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

[@greatbilby]

A lot of great info they NEED to teach in school.

[@socorrocbenitez]

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.

[@mehmetakifberber1017]

I guess "a student surfing on facebook" is a must for these kind of educational videos.

[@BlogginBrandi]

I feel like I'm back in school :) Great advice and ideas to start off with.

[@ILovingItMyWay]

Comprehensive. Educational and effective planning. Thank you 🙏🏼 for this.

[@sharxbyte]

I'm in the process of doing this right now. This was super helpful!

[@ceciliakim8025]

Very, informative. Suggestion- I would love subtitles for the questions from the students or raise up the audio volume for their voice.

[@anncazares111]

Cecilia Kim I appreciate speakers who specifically repeat the entire question prior to answering it.

[@jamesowen9384]

A diversified, future-looking portfolio can set you up to have guaranteed income in retirement. It all starts with identifying your goals and getting clear about your finances.

[@liamjohn2756]

Forex has plenty of opportunities to earn some decent payouts. But embracing losses, and dealing with patience is what most investors lack. My first loss 2 years ago was over $2,000 but today my trading profits yearly is over $500k, and my portfolio consist of high dividend paying stocks

[@derrickadams8416]

@@liamjohn2756 seeing people make this much money on the stock market amuses me, got me wondering what I’m doing wrongly.

[@ethansmith2499]

@@liamjohn2756 wow this is some really great achievement, the master tuning for such successful trades requires great skills and expertise. How did you achieve such trade earnings??

[@liamjohn2756]

@@derrickadams8416 Understanding the fundamentals is the first step to success in the financial market

[@liamjohn2756]

@@ethansmith2499 well I made the right moves as a beginner by investing with a reliable brokerage where all my trades are being handled by a financial expert Dan Raziel. His well structured trading strategy generates such trade earnings, and he ensures proper allocation to my assets to more profitable ventures. It’s been 2 years and I’m still making great profits under his guidance.

[@lbyd874]

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

[@waltondornisch7662]

This is incredibly helpful and precise. Thank you so much!

[@ms2990ms]

35:12 summarizes it perfectly

[@ms2990ms]

36:49

[@reythejediladyviajakku6078]

This was great. I’d love to see a lecture on product pricing. What to consider in the price tag of your services

[@anyazinn5862]

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.

[@Tatumnscottt]

The girl with the Fiverr comment was ahead of her time. Big ups

[@KTGardenHome]

🎯 Key points for quick navigation: 00:08 *📝 Importance of having a business plan* - Writing a business plan is valuable preparation for investor or customer meetings - Debate on whether a business plan is necessary - Examples of successful companies with and without business plans 02:02 *🗒️ Elements of a business plan* - Importance of clearly defining the company - Crafting a concise pitch for the company - Highlighting the key components that should be included in a business plan 05:54 *🚀 Emphasizing the importance of team and selling as an entrepreneur* - Selling yourself as an entrepreneur is crucial - Building a strong team or advisory board compensates for lack of experience - Leveraging educational background and personal connections in business pitches 18:25 *📊 Business Plan Content: Business plan content should focus on what you've built, how you will build it, and the future impact.* - Business plans need to address how the company will execute its ideas. - Assumptions and intentions should be clearly outlined in the business plan. 19:50 *💡 Becoming an Expert: To succeed, become an expert in your industry.* - Being an expert in your industry builds credibility. - Understanding industry trends and insights is key in business planning. 23:49 *🛤️ Building a Roadmap: A detailed roadmap is essential in a business plan.* - A roadmap outlines plans to move a business forward. - Clearly defined milestones and strategies for success are crucial in a roadmap. 36:06 *💰 Business plan length and financial projections* - Business plans for competitions are generally under 25 pages. - Financial projections should focus on telling a story of how the business can make money. - Ancillary revenue streams can be included for experimentation but should not be the main focus. 37:06 *💸 Asking for capital and setting clear goals* - A business plan should end with a clear ask for the amount of money needed. - The ask should be specific and focused on funding key activities outlined in the plan. - Avoid making unrealistic promises about returns or terms in the ask section. 41:00 *🚀 Starting a business plan early and hiring decisions* - Start working on a business plan early to solidify goals and roadmap. - Hiring should focus on building a team as early as possible. - Consider offering equity and options to attract talent when starting up. 44:25 *💡 Validating ideas and team building* - Validate business ideas through customer feedback before proceeding. - Focus on what you can't do and build a team to complement your skills. - Do not base decisions solely on personal beliefs; seek validation from the market. Made with HARPA AI

[@TaruProductions]

Great video - You can tell the guy has had a lot of real world experience

[@kamarunong3023]

Awesome lecture! Thanks for sharing!

[@johnhall3787]

Shared video with my college business class, this video was very informative.

[@sohoyankee66]

Wow. If you every decide to come to Florida to lecture, I'd be the first one to sign up.

[@tylerlapointe3964]

How do you fill your advisory board? How do you pay them? From what I got you give equity or options to the day to day employees in the begining if you cant pay them, but I missed how to attract the advisors? Do you give them equity or options as well?

[@Raccoonov]

Awesome and very clear explanation of a topic! Brilliant! Thank you, Patrick!

[@dashippo]

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

[@sallymogoatlhe6648]

Thank you very much. Very informative and helpful.

[@LifeWerks]

Very nice presentation from Patrick FitzGerald. So clear and well managed disscusion. Felt like I was back at Uni! Thanks.

[@CBromfield]

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.

[@melissalang78]

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.

[@kahele808]

Great info! Needs more views.

[@gl5616]

This video was well worth checking out for aspiring entrepreneurs, like myself.

[@changeoffocus1074]

Seriously first 2:41 seconds has helped more than any other video on this platform!!! Would have completely this some time ago.. 🥴😐🤔😭

[@DH-ej2sf]

Great video! Thanks for posting this wonderful classroom lecture.

[@AILifeUpgrade]

Thank you for this video. I got lot of value from it. Love from India :) Great proffesor!

[@michellenorleen3427]

Thank you so very much! Very helpful as I write my business plan

[@philipdidenkov8923]

Wonderful workshop. Thank you.

[@shwanbrusso7626]

Massively helpful information. Thanks!

[@millaracing]

glad i found this. very helpful. especially being a philly resident it's nice to know Patrick is in the area. thank you

[@SmartBusinessPlan]

Its very informative Post Thanks for Shearing this idea

[@johnmombay3566]

Great lecture! I wish I saw this years ago.

[@ReedoAce]

Well worth the watch

[@조영민-b3t]

people have various idea that they wanna try business. but in school, generally speaking, we cant learn how to start, operate, manage the business in real. because in school a few real entrepreneur is in school. but here, i can write my thoughts based on this '8 things that need to be in a business plan' so i will gradually fill out my business documents for futrure.

[@benblack4337]

very excellent presentation for me!

[@tsunghsiwu]

Wharton is the top in business

[@Photoboothint]

Great video.

[@ericokenya]

The lecture is lovely and practical. I have learnt a lot. This is an ar I have a lot of interest@Shi

[@amilcrrr]

This is great material. 4 step process very good idea

[@vikasvarma29]

I was looking for this past month... nicely explained

[@christopherarmstrong2710]

5:54 You're always selling as an entrepreneur. If you're not a good salesperson, find someone who is and hire them _tomorrow._ The first thing you're selling is _yourself,_ constantly & all the time. 6:15 Team section in pitch decks is one of the most important components. Who are they? What are they made of? Go very heavy on the team when you're building a business plan, because it's what people flip to right away. If you're weak on team and experience, bring on an advisory board. 7:25 Education - use it, shout it from the mountaintops. Don't undersell the fact that you went to a pretty good school. 15:25 Failure

[@johannamonamamvp3945]

finally i now know how to make business plan. thanks

[@martintumwine507]

Hoo.This is it.Bring it on.Let’s learn.

[@Epicmikey9]

Thank you very much, great explenation.

[@sinnahj]

You can see this info bro! Clear and concise.

[@saladuit]

It really feels as if i'm in the classroom;)

[@chinchorrero]

Great session!

[@abbyb_Pain2Purpose]

This was excellent! Thank you

[@godwincornelius201]

i wanna see the rest of his lectures. any links?

[@billkillernic]

just out of curiosity... how the heck would be sending and receiving mail to put it on carpets be a profitable business (discussed at about 16:00) ??

[@TheRealStephenAllen]

Apparently there is someone in the front row who cares more about their Facebook account than your lecture. @10:58 in case you were wondering.

[@anncazares111]

Stephen Allen who cares?

[@wendyferguson4829]

Thank you this was great and soo different from what I have seen before. Wendy South Africa

[@runfayalife]

you have no idea how many times I've raised my hand and said "ME!"

[@nothanniballecktor9633]

11:00 Kid surfing facebook in bottom right.

[@anattaokonkwo]

LOL!

[@MidgardEntertainment]

IF I was at Wharton, I wouldn't be on Facebook lol Opportunity of a lifetime.

[@sunsetsleeper]

LOL nice catch ...

[@roxyissmall8765]

Tony Terwey same guy who’s phone goes off. Lmao

[@El_captn]

Snitch!!

[@MathewHeggem]

Great workshop! Very useful.

[@mohamedelgarem]

Thanks for sharing 💙 anyone have access to the presentation?

[@user-bi6mm9pn6o]

This started to sound like a pretty decent intro into the realm of entrepreneurship. Then all of a sudden It reminded me of this documentary that was introduced to me by a lady I had met about three years ago in Vegas playing in a late-night game ofTexas Hold Em. It was a documentary on cocaine and the behavioral effects it can cause to the human brain. The way this teacher was talking somewhat sounded like a couple of the people in the video. Now don't get me wrong, I'm not the kind of person who would ever judge another without trying to at least get to know them first. And they did sound like they get things done? Except it also looked like they never actually got anywhere. God help me if I ever took any kind of professional advice from them? I probably would end up owning a dozen head shops up and down the West Coast! But I am happy to announce we are opening up a new location in Van Nuys Ca. in late Oct. So come on in starting Oct 21st with your best posthumously COVID 19 costume and have a chance to win a vintage Jerome Baker Mothership.

[@siriankiptoo488]

Thanks for the teaching

[@AtlasDawood]

thank you for sharing this informative video would love to see the whole series on business 101 and advance level.

[@soniaava9464]

Mrs Anna is legit and her method works like magic I keep on earning every single week with her new strategy

[@johnmark8916]

expert Mrs Anna she's really amazing with an amazing skills she changed my 0.3btc to 2.1btc

[@rusielisabeth3884]

expert mrs Anna has been managing my trade for months and I keep making profit every week,made $9,130 last week

[@davidjack9477]

I lost $1200 carelessly trading on a platform then I was referred to expert Mrs Anna she recovered the loss and made an extra profit of $4600

[@kareemserifat7235]

I'm from Brazil, I and two other of my friends tried her immediately we testified, her performing wonders🇧🇷

[@parker2665]

Trading without a professional like expert Mrs Anna is like gambling with your money

[@josephg.garblah3195]

Hello, can you do a videos on developing a strong business plan on science and computer technology center that will provide onsite and online training, consultancy and services, etc. I am a Liberian from West Africa. but do not know how to write a strong business plan. Please, I need your assistance. Thanks

[@JayRellaPrincessBeauty]

Very good information, I didn't know where to start.

[@DivologyMedia]

A business plan is essential before starting any social media marketing campaign.