identify major milestones for your new venture

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Reference no: EM133546284

Assignment: Business and Finance- Marketing Course Learning

You will combine all components of your business plan together into one document, and develop an executive summary to place at the beginning of your plan. Be sure the components of your plan have been edited to reflect your instructor's feedback, so you submit a final draft of each as opposed to just submitting the same version that was already submitted previously. Cite six peer-reviewed articles not including your textbook.

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One of the initial stages in developing a business plan is to perform a market analysis. A market analysis is the process of gathering information about a market within an industry. Your analysis studies the dynamics of a market and what makes potential customers tick. For this professional assignment, you will develop a market analysis for your business. This market analysis will make up a significant portion of a completed business plan, which you will submit at the end of this course.

An integral part of the business plan is to develop a business model. Simply put, a business model describes how a company plans to make money. It is not what you do, but how you will make money doing what you do. A solid business model is the link between venture strategy and financial plans. Projecting the financial performance and requirements can be classified as financial goals of the venture. A venture capitalist will want to know not only the numbers, but how those were derived.

Now that you have laid the foundation for your new business venture and completed the beginnings of your business plan, it is time to complete a vision, mission, and venture concept for your new business venture. Once you have completed your vision and mission statements, in the same document, develop your positioning statement.

Now it is time to construct some of the components of your business plan; operations, production, and supply. This portion of the business plan is mission critical because it deals with the management of many business functions to include production and manufacturing and suppliers and is key to achieving operating profit.

In this phase of your business plan, try exploring other tools (apart from Word) for developing the organizational chart. LucidChart, Microsoft Visio, Diagrams.net, and The Org are a few ideas, most of which are free. Do not focus on who will fill each role within your organizational structure; just focus on the role(s) you will need to accomplish the mission of your organization.

In this last development of your business plan, you will identify major milestones for your new venture as well as projections of financial performance. These two elements go hand in hand, as these represent how committed and serious you are to achieving success.

Reference no: EM133546284

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