NEW VENTURE BUSINESS PLAN

ENTR201

FINAL PROJECT

NEW VENTURE BUSINESS PLAN

A business plan has often been defined as a comprehensive document that clearly describes how the entrepreneur intends to operate his business. You can also define a business plan as an important communication tool that details the financial strategy and goals of the organization. This definition is true for both existing and proposed business.

Find in the plan a detailed outline of the resources needed to realize the developmental objectives of the business. What are these resources how will they be gathered, and from where they will be sourced – a business plan tells you all.

For the company management, the business plan should include identification of markets, listing of customers, calculation of expenditures to be incurred and a computation of required investment of funds for business activities based on projected revenues and costs over a specified timeline.

The document is specifically designed to attract capital investment. Every time you approach a lending program for assistance, go armed with your business plan. Many banks insist on seeing the statement before they consider your loan application.  Potential investors and bank managers pore over the document scheduling your proposed business activities over the coming year, or stated time period. Projection figures for sales, profit, turnover, ownership and key personnel data contained in the plan help them decide if your company is a safe bet for investment.

In the case of small business, the business plan definition extends to an examination of proposed products, target markets, concerned industries, management and marketing policies, production and financial requirements.

The business plans of giant companies can be defined as an expression of their corporate vision. Success and credibility of such a plan is ensured when the vision is truly global and draws from the present success of the private company

TASK

In groups as identified at the beginning of semester you are to prepare a business plan for start up organization (use your entrepreneurial skills here!!)

You may use a business idea that you would like to set up yourself after you graduate or use a business that you are familiar with and would like to see expand into other areas.

Using the example of the business plan format set-out in your textbook ensure that your plan includes the following elements:

1. Executive summary
   1. Brief description of the business, its product and services and the customer problems they solve
   2. Brief overview of the market for your product or service
   3. Brief overview of the strategies for success
   4. Brief description of the managerial and technical expertise of key people
   5. Brief statement of the financial request and how you will use the money

1. Vision and Mission
   1. Vision
   2. Mission Statement
   3. Company Values
   4. Competitive Advantages

1. Company history (as applicable)

1. Business and industry profile
   1. Industry analysis
   2. Regulatory Restrictions
   3. Significant Trends
   4. Growth Rate
   5. Key success factors in the industry
   6. Outlook for the future

1. Business strategy
   1. Goals and Objectives – financial, operational and other
   2. SWOT Analysis
   3. Competitive Strategy
   4. Competitor analysis

1. Company products and services
   1. Description
   2. Features
   3. Benefits
   4. Warranties
   5. Uniqueness
   6. Patent or trademark protection
   7. If a product, description of production process, costs, suppliers and raw material source.

1. Marketing strategy
   1. Target market including demographic profile
   2. Customer motivation to buy
   3. Market size and trends
   4. Advertising and promotional strategy including a full integrated communications strategy
   5. Pricing
   6. Image in the marketplace
   7. Comparative pricing to competitors
   8. Distribution strategy

1. Location and layout

1. Description of management team

1. Plan of operation

1. Financial forecasts

1. Loan or investment capital proposal

1. Appendices

• Group Project consists of 3 students only.
• Total words required 4500- 5000 words.
• Female Student should work with female student, while male student should work with male student.