Reference no: EM132161036
Assignment - Business Plan
One vehicle for acquiring an understanding of the entrepreneurial process is through the preparation of a start-up business plan. The focus of this experience is to select a concept and create a complete and persuasive business plan that, among other things, will effectively accomplish the goal of acquiring financing. Writing a business plan requires you to ask tough questions about the nature of the business.
- What are the benefits of your product or service?
- What is the target market and how will you penetrate it?
- How will you develop and produce the product or service?
- What is required from the management team?
- What are the risks of the venture and what can you do to reduce them?
- What are the financial implications of the plan?
- What resources, including funding, are required to successfully create the business plan?
The Written Plan: The body of the written business plan should be at least 10 pages and no more than 15 pages including the executive summary and all financial statements. The business plan's financial section will include a complete set of financial statements (income, balance sheet, cash flow) for the initial three years of the venture. Any assumption list will accompany the statements. Plans must include an explanation of the offering to investors that indicate the investment required, expected ROI, deal structure, marketing plan, operations plan, and management team description. Must be turned in a binder/sheet protector.
Business Plan Presentation: Strong written and oral skills greatly facilitate success in the business world. Those individuals that can effectively communicate their ideas will have an advantage over those that cannot. You will present your business plan to the class and, if applicable, participate in a business plan competition. Put highlights of Plan in a PPT Presentation.
Small Business Template Headings -
Title Page
The Executive Summary - While appearing first, this section of the business plan is written last. It summarizes the key elements of the entire business plan.
Industry Analysis- An overview of the industry sector that your business will be a part of, including industry trends, major players in the industry, and estimated industry sales. This section of the business plan will also include a summary of your business's place within the industry.
Market Analysis - An examination of the primary target market for your product or service, including geographic location, demographics, your target market's needs and how these needs are being met currently.
Competitive Analysis - An investigation of your direct and indirect competitors, with an assessment of their competitive advantage and an analysis of how you will overcome any entry barriers to your chosen market.
Marketing Plan - A detailed explanation of your sales strategy, pricing plan, proposed advertising and promotion activities, and product or service's benefits.
Management Plan - An outline of your business's legal structure and management resources, including your internal management team, external management resources, and human resources needs.
Operating Plan - A description of your business's physical location, facilities and equipment, kinds of employees needed, inventory requirements and suppliers, and any other applicable operating details, such as a description of the manufacturing process.
Financial Plan - A description of your funding requirements, your detailed financial statements, and a financial statement analysis.
Appendix References.