The business plan will consist of
1- Company information and description 2- business model 3- product/services 4- Market/analysis 5- Organizational plan 6- Management team 7- financial plan 8- promotional plan.
Rubric is in the comments and a google drive link is attached
NAME OF BUSINESS
ENTP 400 Spring 2023
Vonnice. J. Boone, MBA
Philander Smith College
A startup business plan serves several purposes. It can help convince investors or lenders to finance your business. It can persuade partners or key employees to join your company. Most importantly, it serves as a roadmap guiding the launch and growth of your new business.
Writing a business plan is an opportunity to carefully think through every step of starting your company so you can prepare for success. This is your chance to discover any weaknesses in your business idea, identify opportunities you may not have considered, and plan how you will deal with challenges that are likely to arise. Be honest with yourself as you work through your business plan. Don’t gloss over potential problems; instead, figure out solutions. A good business plan is clear and concise. A person outside of your industry should be able to understand it. Most of the time involved in writing your plan should be spent researching and thinking. Make sure to document your research, including the sources of any information you include.
Avoid making unsubstantiated claims. Investors, lenders, and others reading your plan will want to see realistic projections and expect your assumptions to be supported with facts.
This template includes instructions for each section of the business plan.
12-point Times New Roman.
Use the same font throughout your paper, with the following exceptions:
Figures: Within figure images, use a sans serif font with a type size between 8 and 14 points.
Should demonstrate an awareness of the audience by using a precise vocabulary, a distinct style, and an appropriate tone and by providing a neat presentation on the page.
Should demonstrate insight into the assignment and meet the required length.
Should contain no more than six major usage errors (major usage errors include sentence fragments, run-ons, comma splices, and errors in subject/verb agreement).
If sources are used, the paper demonstrates a clear concept of the benefits of summary, paraphrase, and quotation, and these are consistently well integrated with the writer’s own ideas.
If sources are used, the paper uses correct APA documentation with no more than five citation errors (citation errors include punctuation errors and incorrect information within the parentheses; instances of plagiarism as defined below should not be counted as citation errors*).
If sources are used, the paper uses correct APA works cited entries with no more than six errors.
Complete this section with your Promotional Plan. Keep this section under two pages. Due 4/16.
See Chapter 6
The executive summary, or overview, is often thought to be the most important section of the business plan. If you don’t catch the readers’ attention in the executive summary, most likely they will not continue reading. At the very outset, it must:
Convey a clear and concise picture of the proposed venture
Create a sense of excitement regarding its prospects.
This means that it must be written—and, if necessary, rewritten—to achieve clarity and create interest.
Even though the executive summary comes at the beginning of the business plan, it provides an overview of the entire plan and should be written last. In no more than three (preferably two) pages, the executive summary should include the following subsections:
A description of the opportunity;
An explanation of the business concept;
An industry overview;
The target market;
The competitive advantage you hope to achieve in the market;
The economics of the opportunity;
The management team;
The amount and purpose of the money being requested (the “offering”), if you are seeking financing.
Table of Contents
Company Information and Description 6
Business Model 7
Market Analysis 9
Organizational Plan 10
Management Team 11
Financial Plan 12
Promotional Plan 13
Company Information and Description
Complete this section with the Business Model. Due 2/19.
See Chapter 6
Provide some information on the company. The company description informs the reader of the type of business being proposed, the firm’s objectives, where the firm is located, and whether it will serve a local or international market. If the business is already in existence, its history should be included.
See Chapter 6. Due 2/19.
A business model explains in a systematic and clear way how a business will generate profits and cash flows. It is the “nuts and bolts” of how a business will make money. Four key elements that make up the business model:
The revenue model;
Required resources to grow the business;
Business model risk.
See chapter 6. Due 2/26.
The product/service plan describes the products and/or services to be offered to the firm’s customers. Now is the time to make a convincing presentation of your company’s competitive advantage. Based on your earlier description of the industry and its major players, explain how your product or service fills a gap in the market or how your product or service is “better, cheaper, and/or faster” than what is currently available.
See Chapter 7. Due 3/5.
The marketing plan is the basis for describing the firm’s marketing strategy. In other words, how will you entice customers to make them change to your product or service and to continue using it? Remember, you must have a compelling value proposition. Look chapter 7.
This section should include the following topics:
Methods of identifying and attracting customers.
Type of sales force.
See Chapter 8. Due 3/19.
The operations and development plan offers information on how the product will be produced or the service provided. Here, you will explain how the operations will contribute to the firm’s competitive advantage—that is, how its operations will create value for the customer. Chapters 9 and 21 further discuss the issues to be addressed in the operations and development plan.
See Chapter 8. Due 4/2.
If a firm is extremely small, the founder will probably be the key manager and perhaps the only manager. In most firms, however, others share leadership roles with the owner, which creates opportunities to leverage their combined networks and resources for the good of the company. In general, the management team consists of individuals with supervisory responsibilities, as well as nonsupervisory personnel who play key roles in the business. For example, members of a management team might include a financial manager who supervises a small office staff and another person who directs the marketing effort.
What will your management team look like and what are their roles?
See Chapter 6. Due 4/9.
The financial plan presents financial forecasts as pro forma statements. This section of the business plan should show that the proposed business can be self-supporting and, ultimately, profitable. To do this, the entrepreneur needs to be honest with himself or herself and fully consider the company’s financial outlook. Pro forma statements, which are projections of the company’s financial statements, should be presented for at least three years and possibly up to five years. The forecasts ideally include balance sheets, income statements, and statements of cash flows on an annual basis for three to five years, as well as cash budgets on a monthly basis for the first year and on a quarterly basis for the second and third years. When developing forecasts, it is imperative that you return to your business model.
See Chapter 17 and Chapter 15. Due 4/16.
The promotion section of the marketing plan should describe the entrepreneur’s approach to creating customer awareness of the product or service and explain why customers will be motivated to buy. Technological advances are having a huge impact on how firms promote themselves and their products, and how customers obtain information about products and services they choose to purchase. On the positive side for small businesses, many new options have reduced the costs of promotion and extended their reach. However, the need for promotion is enormous and frequently overwhelming, making it difficult for a small enterprise to gain customers’ attention. Even with new technology, personal selling (i.e., person-to-person selling) and advertising will continue to be important.
If personal selling is appropriate, the promotion section of your plan should outline how many salespeople will be employed and how they will be compensated. It should also mention the proposed system for training the sales force. If advertising is to be used, a list of the specific media to be employed should be included and advertising themes described. If you will be using the services of an advertising agency, the name and credentials of the agency should be provided, as well as a brief mention of successful campaigns supervised by the agency.
For assistance with APA formatting for the references page, follow this link: https://apastyle.apa.org/style-grammar-guidelines/…
Maak, T. (2007). Responsible leadership, stakeholder engagement, and the emergence of social
capital. Journal of Business Ethics, 74, 329-343. https://doi.org/10.1007/s10551-007-9510-5
We offer the bestcustom writing paper services. We have done this question before, we can also do it for you.
Why Choose Us
- 100% non-plagiarized Papers
- 24/7 /365 Service Available
- Affordable Prices
- Any Paper, Urgency, and Subject
- Will complete your papers in 6 hours
- On-time Delivery
- Money-back and Privacy guarantees
- Unlimited Amendments upon request
- Satisfaction guarantee
How it Works
- Click on the “Place Order” tab at the top menu or “Order Now” icon at the bottom and a new page will appear with an order form to be filled.
- Fill in your paper’s requirements in the "PAPER DETAILS" section.
- Fill in your paper’s academic level, deadline, and the required number of pages from the drop-down menus.
- Click “CREATE ACCOUNT & SIGN IN” to enter your registration details and get an account with us for record-keeping and then, click on “PROCEED TO CHECKOUT” at the bottom of the page.
- From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it.