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BUS101 Introduction to Business
Task
Business Plan Outline
Here is a guideline for creating your Business Plan. The object of this plan is to convince a lender to give you the money for your start up. Your start can be either a service or a product. There is no set amount of required pages for this assignment although have teaching this course for many years most good plans range from seven to ten pages. Not including your executive summary. The executive summary is used for giving the lender a brief no more than a two page summary of your idea. Have fun with this project and be creative. You never know maybe you will really move on and do this for real. I’ve had students go and turn their plans into reality and become successful.
1. Business Plan Guideline
2. Executive Summary about two pages
3. Company name address and phone number e-mail
4. Names addresses and phone numbers of all key people
5. Brief description of the business
6. Brief overview of the market for your product
7. Brief overview of the strategic actions you plan to take to make your firm a success
8. Brief description of the managerial and technical experience of your key people
9. Brief statement of the financial need and how the money will be used
10. Income statements and balance sheets for the last three years of operation if applicable
11. Detailed Business Plan
12. Background on your business
13. Brief history of the business
14. Current situation
15. Detailed description of your business
16. Uniqueness of your business
17. How it creates value for others
18. Key factors that influence the success of your business price competitiveness quality durability dependability technical features
19. Market analysis
20. Potential buyers for your products be specific
21. Their motivation to buy
22. Size of the market number of customers in the market
23. Total annual purchases
24. Nature of buying cycle
25. Is this a product a durable good at last four years or product that is repurchased on a regular basis?
26. Is a product likely to be purchased at only seasonable periods during the year?
27. Specific target market what you know about the potential customer to whom you are likely to sell in your geographic area
28. If the product is a consumer product or service
29. Product or service features that influence buying decision research that supports your feeling consumer preferences and where they purchase comparable products and the strength of these preferences
30. External market influence How each of the following external forces affect the sale of your profitability of your product
31. Economic factors Inflation Recession High or low unemployment
32. Social factors Age of customers Locational demographics Income levels Size of household Specific social attitudes
33. Competitor analysis
34. Description of the following factors including their influence on your success
35. Existing competitors
36. Major known competitors: Why you believe customers in your target market buy from them now
37. Firms that might enter the market: Who they are and why might they enter the market Impact in your target market segment if they enter
38. Strengths and weaknesses of each competitors business
39. Strategic plan for your business
40. Plan to market your products at target market identified above specifically considering marketing strategy on these key factors
41. Pricing
42. Product promotion and advertising
43. Customer services
44. Comparison of your products with those presently in the market
45. Specifics of your organization and management
46. How your business is organized legally Corporation S. Corporation LLC partnership so proprietorship
47. Key people now are in future in your business their backgrounds specific talents that enhance the chance of success
48. Financial plans
49. Money needed to make this product or service a long-term success
50. Create a cash budget to show the banker or investor what you need in terms of money when you need it and how and when you plan to generate revenues from operations and sales
51. Realistic projection of operational costs
52. Materials
53. Labor
54. Equipment
55. Marketing
56. Overhead Fixed costs
57. Other you need to start up cost to your situation
58. Actual and projected balance sheets and income statements
59. A breakeven analysis
60. Strategic action plan
61. Clear mission statement for your business
62. Specific performance goals and objectives
63. How these strategies will be converted into operating action plans
64. Control procedures to keep business on track
BUS101 Introduction to Business
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