Write a Personal Business Plan (80 POINTS)
Assignment 4
Due Date: Monday, October 31, 2016
Write a mock simple business plan for a company that you might want to start sometime in the future. Have some fun with this idea and be very creative in stretching your imagination on the concepts and processes that you would like to implement in this business plan. Plans should be limited to 12 to 15 pages typed with the following topics addressed:
• Executive Summary – Your summary is a snapshot of your business plan as a whole and touches on your company profile and goals.
• Market Analysis – Detailed analysis of the specific industry and market where your company competes, including both “internal and external” sources, stakeholders, and shareholders. A detailed SWOT analysis is appropriate in this area of your plan. Make sure you emphasize how your company is set apart from the competition and show the value added to your service in terms of cost analysis.
• Marketing Plan – Describe how do you plan to market your business? Keep in mind the 4 P’s of the marketing concept (Place, Product, Price, and Promotion). These are key marketing approaches that that will determine your business financial stability, distribution channel, location, and advertisement. In essence, be sure to identify these important strategies and timing.
• Operations Plan – All businesses are structured differently. In this section, it will describe how your business will operate. This section should include your organizational chart to reflect HR, Marketing, Finance, Technology, or other supporting units within the business. In addition, outline the firm’s cost structure and management/governance structure.
• Service or Product Lines – Describe what you sell and how it benefits your customers. Define the product life and detail any Research and Development (R&D) activities to improve product or business development.
• Financial Projections – For this simple exercise, just detail any and all startup costs that you would require from a financial lending institution to structure the business in terms of acquisition of a building, equipment, staffing, and of material costs. This could take the form of a ledger to show the accounting activities to start up the business.
• Risk Factors – Identify the most likely factors that could cause the business to fail in some aspects of operations or investments.
• Sources – List any sources used to help you develop this plan.
