Assignment:
For this unit, turn your attention to a more detailed look at the business plan. discuss writing a business plan, as well as business plan contents.
The discussion assignment for this week includes a review of the Key Assignment Outline.
Your first task is to create a Key Assignment Outline so that other students are able to review your plan, include any notes you feel are appropriate. The purpose of this assignment is to help improve the quality of the Key Assignment Draft.
For assistance with your assignment, please use your text, Web resources, and all course materials. The objectives of discussion are to assist you in evaluating your personal preparedness for entrepreneurship, and to enhance your likelihood for future successful new business ventures.
Also, we have another individual project that is due this week. For this assignment, write a detailed outline (like the one below) of your business plan. Organization is important.
Outlines will vary based on the type of venture.
A basic outline of the proposed business plan would include the following:
Cover Page
Name of the business
Address and phone number
Issue date of plan
Table of Contents
Executive Summary
Company information
Market opportunity
Financial data
Company
Background
Business form
Reason for the firm's establishment
Environmental Analysis
Economic
Competitive
Legal
Political
Cultural
Technological
Products or Services
Different from those currently on the market
Other uses for the product
Drawings or photos, if appropriate
Patents or trademarks
Competitive advantage
Potential for growth
Manage the product or service through the product life cycle
Expand the product line or develop related products
Management Team
Technical skills
Business skills
Experience
Compensation
Training
Professional assistance
Time Line
Outline interrelationship and timing of major events planned for your venture
Timing of objectives should be realistic and attainable
Benefits to the Community
Economic development
Community development
Human development
Exit Strategy (How and how long before you and your investors will exit the business and get back your investments?)
Who will succeed you in the business?
Will the business be sold?
Financial Plan
Sources and uses of capital (initial and projected)
3-year projections of:
- Cash flow statements
- Balance sheets
- Profit and loss statements
- Breakeven analysis
Conclusions and important points:
- Discussion of how much equity and how much debt are included
- Highest amount of cash needed
- Expected payback period for loans
When finished, your business plan should be between 3500 and 4000 words.