Project #40941 - entrepreneurship

ENTREPRENEURSHIP

 BUSM 34074

SMALL BUSINESS PLAN

 

Evaluation

Feasibility and Mind Map (In-Class)                5%

Phase I Business Plan – Research and Analysis   15%

Phase 2 Business Plan – Plan                        20%
Business Plan Presentation                           10%

Total                                                    50%

(Details of Feasibility Analysis and Mind-Map provided in-class.  Details of Business Plan Presentation and Dragon’s Den Assessment provided 2 weeks prior to presentation)

* APA Formatting is expected for both phases of the report.  Failure to do so
  will result in a 5% deduction from phase mark

 

Context

You have come up with a great idea for a business and need to secure funding to  move ahead with your business idea.  You must come up with the most compelling document that outlines the opportunity and exactly how you will capitalize on it.  The more thoroughly thought-out and operationally specific, the plan; and the more professional, the proposal - the better chance you will secure the go-ahead to launch your business. 

Overview:

This project is the major outcome of this course. The overall intent of the project is that you learn how to apply course concepts to complete a business plan for an entrepreneurial venture. The more this resembles the activities you would actually do to pitch an idea, the better – that means documented (referenced) secondary research, and primary research such as location visits / interviews with suppliers / visits to competitors, etc. Do what you would actually do, if you were going to launch this business (because you might).  Strive to be specific and consistent throughout. 

·       Ideal group size is 4 students (3 or 5 acceptable).  Instructor reserves the right to amend groups. 

·       You are responsible for having a discussion/contract with your team, to circumvent any potential issues, such as unequal work load. Students can invoke peer evaluation.  After discussion with all members of the group, the instructor may adjust marks

PHASE I: RESEARCH AND ANALYSIS (15%)

Phase I should be approximately 20 pages without attachments/appendices.  Some businesses may require more

 

Business Concept: (5%)
Briefly state the idea for your business in a couple of sentences.  Outline your preliminary thoughts on why this is a viable business and how you will likely differentiate yourself.  Reference your Feasibility Analysis.  Name and brand your company.  Provide a vision of where you would like this business to be in 5 years (global?, franchise? Etc.)

 

Management Team: (5%)

Outline the key players on your management team (that is your group members) – outline actual strengths and experience that will give investors confidence in your business proposal – sell yourselves!

 

 

Situation Analysis

 

Market Analysis: (12%)

Define the market you are going to compete in.  What is the $ and unit size of this market. (Use your Feasibility Analysis). Is it growing?  What are the geographical boundaries? (Define it upfront, then size it, and then project what a reasonable market share of this market could look like) Are there different segments in this market?  Are there any barriers to entry?

 

Supplier Analysis: (12%)

Provide a diagram of how products are supplied in your market?  Who (name and describe them) are the companies that supply this market?   Who will be your suppliers?  If you don’t need a supplier; will this have a negative impact on the suppliers to the extent that they view you as a threat.

 

Consumer/Customer Analysis: (12%)

Is there a specific demographic, psychographic, or behavioural, profile of the customers in this market?  Different segments?  Are there unmet needs? And what are they?  What are the media habits of this customer market?  What is important to them? Choose a target and size it. If there are intermediaries, like retailers, define, describe, and analyze them.

Other Stakeholders: (10%)

Outline any government or non-government organizations that take an interest in this market.  Is there an association related to this market – how could they help?  Would any see you as a threat?  Are there ones you could partner with?  Are there specific regulations or licenses that are needed to run this kind of business?

 

Competitor Analysis: (12%)

Who are direct competitors for this business?  Describe them. What is their size and strategy?  What are their strengths and weaknesses?  Is there the threat of substitute competitors?   How will they likely react to your launch?

 

MacroEnvironment Analysis: (10%)

Assess any macroenvironmental factors that could be threats or opportunities.  Assess the political, economic, natural, technological, cultural/social, demographic trends that may have an impact on your business.

 

S-W-O-T: (22%)

Summarize the learnings from your previous analyses.  Ideally, 5 or so in each.  This can not be completed without a thorough review of the previous sections.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PHASE II: BUSINESS PLAN (20%)

Phase II should be approximately 20 pages without attachments/appendices. 

Business Objectives (5%):

Provide 3-5 SMART business objectives.  This section is best completed after the remainder of the plan has been completed.  Cash flow objectives?  Sales and profit objectives?.  Growth objectives?1st year?  5 year?  Marketing Objective? Number of customers? Awareness? Other objectives?

Marketing Plan (40%):

Be specific.  Only complete the sections that are relevant to your business

Positioning

Provide a positioning statement for your business.  Discuss how this will differentiate you from competition and in the consumer’s mind.  Consider using a positioning map or some other analytical tool

Product

Define your product mix.  Discuss your rationale for your company name and branding/logo

Place

If you have a retail store – provide location and layout.  If you are using online – what does your web-site look like.  If you’re selling to retailers – list and assess retailers

Promotion

How will people hear about your product? Be specific; i.e. blocking charts and researched costs.  Sometimes less is more.  Focus your promotion.   

Pricing

How will you price your product? Consider the pricing tools used in core marketing courses.  Discuss pricing versus competition and versus cost of goods sold. 

Service

If you have a retail business, service is critical to success; how will you meet or even exceed customer expectations? How will you differentiate the way you serve your customers

CRM

What is your CRM Plan?.  Will customers be repeat purchasers?  Brand ambassadors?  What information will you keep track of?  How will you utilize? What CRM tool will you use?

Salesforce Plan

If you are calling on retailers.  Which retailers?  Who will call on them?  What selling materials will be deployed?

Marketing Research

Is there any research you would like complete either prior to or during your launch? 

* THROUGHOUT -  HOW WILL YOU USE THE INTERNET? – WEB-SITE?
   SOCIAL  MEDIA?

 

Operations Plan (15%):

What processes are key to your ongoing business?  Rough out what they will look like; i.e. provide process maps.  Who will be responsible?

When is your launch / go-live date?

What needs to happen prior to then.  This means a time and event schedule to launch or a blocking chart

 

Human Resources Plan (5%):

How will you staff your operation?  Will you need to hire anyone?  What kind of person?  What will you pay?  How will you find these employees?  What roles will the owners play?

 

Financial Plan (30%)

Start-up Costs

Outline the items you will need to purchase prior to start-up and summarize them

 

Income Statement

Create a detailed income statement for Year 1 (monthly) and provide Years 2-5 totals by item.  Year 1 should be itemized so sales are broken down by product / product category.  Describe exactly how you developed sales forecast and other numbers; i.e. provide assumptions

 

 

 

 

Legal Requirements (5%):

Will you incorporate?  Partnership?  Do you have a small business lawyer and an accountant?     How will you get them?  Provide a name of each

 

 

 

 

 

 

 

 

Subject Business
Due By (Pacific Time) 10/01/2014 12:00 am
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