New Mexico Broadband Program
Internet Tools for Small Business Success
Module 1
Terminology and Planning
Primary Business Components
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Planning
Operations
Finance & Accounting
Sales & Marketing
Hiring
Accounting
& Finance
Operations
Planning
Marketing
& Sales
Management
& Hiring
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Internet Tools for Small Business
Success Class Series
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6.
Terminology & Planning
Finance & Operations
Accounting & Finance
Intro to Online Marketing
E-Newsletters
Websites & Blogs
7. SEO
8. E-Commerce
9. Intro to Social Media
Marketing
10. Facebook & Twitter
11. Social Media
Administration
12. Linked In
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How This Class Works
Terminology
Discussion & Demonstrations
Hands-on Exercises
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Class Framework
Divided into Core Business Elements
• Internet Tools for each Element
Terminology
Realm of tools
Choosing the right tool for your business
Getting Started
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Today’s Class Goals
•Define Internet and business terminology
•Learn about profitability
•Understand the importance of planning
•Learn the components of a Business Plan
•Be able to find local & online resources
•Begin or update your Business Plan
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Terminology
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Broadband
Internet or Online
World Wide Web
Web 2.0
Cloud Computing
Business Roadmap
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Broadband
A way to access information via the Internet using one of
several high-speed transmission technologies.
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Internet or Online
Is the Internet just a big collection of
computers and cables?
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World Wide Web
A system of interlinked documents accessed
via the Internet.
With a web browser, one can view web pages that display
content such as text, images, and videos, and navigate
between them.
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Web 2.0
Improvements in technology introduced in 2004 that led to
the second generation of the World Wide Web.
These improvements allowed interactive conversations to
take place on the World Wide Web.
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Cloud Computing
Users do not download and install applications on their own
device or computer; all processing and storage is
maintained over the Internet.
Run
application
Save data
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Cloud Computing
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Cloud Computing
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Terminology
Business Plan
A business plan is a formal statement of a set of business
goals, the reasons why they are believed attainable, and
the plan for reaching those goals.
Business Plan = Business Roadmap
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Terminology
Profitability
The capability of your business to generate more sales
dollars than the cost of the
operating expenses.
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The Fundamental Goal of Business
What are the three ways to increase the profitability
of your business?
Decrease Costs
Increase Sales
Increase Prices
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Profit Margin
The amount by which revenue from sales
exceeds costs in a business.
PROFIT MARGIN
PROFIT MARGIN (Increase in sales)
PROFIT MARGIN (Decrease in costs)
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Business Planning
What is a Business Plan?
A roadmap that defines
your business, helps
identify goals, and sets
the direction of your
business in order to reach
those goals.
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Why do I need a Business Plan?
Saves time & money by helping to avoid
going down the wrong road.
Investors and lenders require one.
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Business Plan Elements
Executive Summary
General Company Description
Products and Services
Marketing Plan
Operational Plan
Management and Organization
Startup Expenses and
Capitalization
• Financial Plan
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Business Plan Elements
Executive Summary
• Two or fewer pages
• Write it last
• Concise, professional
summary of the
fundamentals
of the proposed
business
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Business Plan Elements
General Company Description
• Explanation of business and what you do
• Mission Statement, Goals, and Objectives
• Business Philosophy
• To whom will you market your products?
• Description of your industry
• Description of company strengths
and core competencies
• Legal form of ownership
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Business Plan Elements
Products and Services
• In depth description of products and services
• Explanation of competitive advantages or disadvantages
• Pricing, fee, or leasing structures of your products or
services
• Describe target market
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Business Plan Elements
Marketing & Sales Strategy
•Market Research
•Economic Factors
•Product features and benefits
•Identify customer demographics
•Identify competition and do a competitive analysis
•Promotion strategy and budget
•Identify your pricing and location
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Business Plan Elements
Organization & Management
• Explain the daily operation
of the business, including location, equipment, people,
and processes
• Detail management
and experience
Image courtesy of Beta Daily
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Business Plan Elements
Financial Plan
•12‐month profit and loss projection
•four‐year profit and loss projection
•a cash‐flow projection
•projected balance sheet
•a break‐even calculation
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Business Plan Updates
If you already have a business plan, consider
updating it because:
• You can use it like a map to gauge if you are still
going in the right direction.
• Your goals may have changed.
• You may want to add online sales and marketing.
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Planning need not be academic
http://www.rightbrainbusinessplan.com/courses/
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New Mexico Resources
New Mexico Resources
• ACCION www.accionnm.org
• WESST
www.wesst.org
• Small Business Development Centers
www.nmsbdc.org
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Beginning your Roadmap
• Let’s look at the resources for business plans available on
www.score.org
• Follow instructor and your handout to begin your roadmap
• If you started the plan on your computer, attach it to an
email and send it to yourself via your Gmail account for
future work
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Review
• Define Internet and business terminology
• Learn about profitability
• Understand the importance of planning
• Learn the components of a Business Plan
• Be able to find local and online resources
• Begin or update your Business Plan
New Mexico Broadband Program in partnership with Fast Forward New Mexico
We appreciate the time you spent with us.
We hope to see you at the next training!
These materials were created collaboratively by the
New Mexico Department of Information Technology, Fast Forward New Mexico,
and the New Mexico State Library, under grants provided by the
National Telecommunications and Information Administration.
These materials are not to be used for profit.
Connecting you to a world of opportunities