Business Plan

Paper details

As you know, the final project for this course is to write a business plan. It is helpful in learning how to do this, to explore others’ completed plans. It is also important, as a possible future business owner, business person, investor or the like to be exposed to various business plans and to learn how to evaluate them. This website Link to Business Plan Examples contains many sample business plans for a variety of businesses. For Paper #1, please find read and review a business plan of your choice, either from the suggested website or from somewhere else, for a business that interests you. Analyze and discuss the business plan you have chosen. You may answer some of the following questions and/or provide any other insights. Does the plan contain the key components outlined page 155 (in Section 6-4) of the textbook, such as an Executive Summary, Company Background, Financial Plan, and Marketing Plan? Was the plan you reviewed compelling and organized? Did it accurately and clearly present the business and the products and/or services offered? Would you invest in this particular business after reading the plan? You may also possibly consider the following: The executive summary. In one or two pages, it should convey the market opportunity and the uniquely compelling features of the business that will help it meet that opportunity. The executive summary should excite you and make you want to turn to the next page. If it doesn’t, the entrepreneur might lack marketing or writing skills. Examine the company strategy for capturing its market. The plan must clearly describe the problem the company is solving or need it is meeting for customers, and then propose a solution. Closely examine the alignment between problem and solution. Will the company actually address that need? This evaluation must take into account the product or service being offered, the operational capacity and efficiency with which the business actually can produce its product, and the quality of the proposed marketing efforts. Understanding of the competitive landscape. The business plan should describe the competitive landscape in which the company operates, preferably by referencing Porter’s 5 Forces or another well-established tool. Look for detailed breakdowns and analyses of each of it competitors, and of how the company is different and better than the competition in a particular niche. The management team. Look for experience, integrity and passion in the executive team. Bios and brief highlights of each executive’s strengths and expertise should accompany standard business information such as headquarters and corporate structure. The company should have experienced advisers, either formally or informally. It is paramount that the principals involved in the business convey their passion and drive toward success with this project. If the founders haven’t invested their own capital into the business, or plan on keeping their “day jobs” while running the business, they might lack faith in the project. The financial plan. Does it include sources of financing and pro-forma financial statements? Are the financial projections promising and realistic?

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