ARAPAHOE COMMUNITY COLLEGE BUS 115 Introduction To Business Business Plan Project (250 points total FOR THREE SECTIONS) (You will work in a group of 3 or 4 and ALL of you must do part of the oral presentation). We will decide in class on Wednesday, September 9th if I choose the groups or you will choose them. If a student drops or withdraws from the class, the other team members must pick up their share of the work. USE Appendix A of your book which has complete guidelines on the sections and information on what to include. Learning Objectives: 1. To apply concepts of book to writing a real business plan 2. To learn how to present professionally 3. To research and summarize ideas and information and critically think Resources to Use to Write: • • • • • Appendix A: Business, A Changing World Text Book Small Business Administration.gov Writing A Business Plan Entrepreneur.com Writing A Business Plan Industry Analysis: www.bls.gov or do a Google search on “salon industry growth” for example. To Research Potential Market: www.census.gov , county government websites, google search Business Proposal: Written Plan: Oral Presentation: Peer Evaluation Total Points: 50 points 100 points 50 points 50 points 250 (25% of final grade) 1 Bus 115 ARAPAHOE COMMUNITY COLLEGE BUS 115 Introduction To Business Business Plan Proposal (50 points total) USE Appendix A of your book for the PROPOSAL on page 31. Learning Objectives: 1. To apply concepts of book to writing a real business proposal 2. To learn how to present professionally 3. To research and summarize ideas and information and critically think Business Proposal: A proposal is a preliminary plan and idea to be as if you were going to start a business or service. Should include supporting information for idea. Proposal should only be about two pages double spaced (10 -12 font). Include in the proposal: A Cover/Title Page with your name, Name of business, Bus115 and Section and Date. 1. Business Description to include form of business (manufacturer, provider or service) including a mission statement and vision or why you think our business will be successful and legal set up form. May include some key objectives. 2. Brief Description of Marketing Plan Identify your target market as this drives your marketing strategy. Products/Services, Place/Distribution or Location of business, Promotion and Pricing briefly as well as your products/services and “brand” or name that identifies your business appropriately. to include your target market, a description of product/service, pricing, promotion and place or distribution briefly. You may look ahead to Chapters 11, 12 and 13 to see what to include for marketing. 4. Brief analysis of your competition and why you think your business will be successful in the given market. Cite a few direct competitors and what THEY do well. KEYS TO SUCCESS AND TIPS: Audience: This proposal is for potential investors or people interested in your business. Write it formally: Don't put "I thought about this and decided", just state the facts. Start off your first section with an enticing sentence or sentences and as part of your BUSINESS DESCRIPTION, explain briefly what sets you apart or what is your niche or success factor right up front. For example: People are becoming more health-conscientious and are concerned about healthy eating. Because of this trend and the aging population, a business providing healthy vending options is proposed to begin in the Denver, Colorado area. The business will be a service business providing vending machines with healthy lunch and snack items. The business will have a niche in providing these vending machines to small to medium sized businesses which currently rely on unhealthy choices in vending machines." Then go into your legal form and why as well as your mission statement. 2 Bus 115 ARAPAHOE COMMUNITY COLLEGE BUS 115 Introduction To Business USE HEADINGS AND SUBHEADINGS: For the Marketing section and each section like Target Market, explain why you are targeting a certain population or class or why you are pricing or promoting as you are. When writing proposals and business plans, use formal business language. Do not use personal pronouns but instead say "The business proposed is...." The owner will....etc. 3 Bus 115 ARAPAHOE COMMUNITY COLLEGE BUS 115 Introduction To Business Final Written Business Plan Plan: (100 points) A business plan is an expanded proposal. It is very detailed. If you need to, see sample plans on internet but DO NOT just cut and paste or copy these or it will be considered plagiarizing and a zero on paper. Cite sources. Remember, TurnItIn shows your “originality” of paper when you submit it in drop box, you can see the % of paper that is originally written can click on the color bar to see originality. Use your own words! Format: • Cover Page with your name, title, course number, section and date • Double Space your business plan using 10 – 12 font (readable font please) • Final written plan will probably be anywhere from 15 -20 pages double spaced depending on your writing style and how you express your ideas. • Title each section appropriately and keep to order per Appendix A after Ch. 1. • Plan should be thorough in covering applicable material for each section for your business and content and critical thinking are important. SEE APPENDIX A!! • Format counts also and using complete sentences, correct spelling and grammar. Remember, this is a business plan that you could be presenting to potential investors or a bank for financing so it should be professional. Do not use contractions or use limited for formal business writing. Do NOT use personal pronouns such as “I” or “We” or limit this and use “The owners” or “The partners” . Use an active voice versus passive voice for the business plan and business writings. Use HEADINGS and TITLE EACH SECTION per APPENDIX A and Guidelines and Sections below. • Utilize material from your textbook to write each section as this is a comprehensive project of all the material learned over the semester to be incorporated into your business plan accordingly. At end of each Chapter is “Build Your Business Plan” utilize each of these to include appropriate details in your plan. • Financials: Financials should include a startup budget, projected cash flow (and reasoning behind it per month) and Monthly expenses. See Power Point in Content for Financials • Cite your sources using MLA (Modern Language Association) Format at end of paper Sections of Written Business Plan (See Appendix A of Book at end of Chapter 1) 1. 2. 3. Executive Summary – Should include major points of paper and be a summary to gain interest of reader. Typically about a page long. See other samples on internet. Business Description – define in detail and business form (sole proprietorship, partnership, LLC etc.) Include mission statement, vision and key objectives and keys to success. Industry and Market Analysis (Include growth rate or decline for your industry) can use www.bls.gov or county information or Google or U.S. Census or local Chamber of Commerce web site. Describe Industry you are in and industry characteristics. Describe the overall market potential for industry you are in. www.city-data//.com is also helpful. 4 Bus 115 ARAPAHOE COMMUNITY COLLEGE BUS 115 Introduction To Business 4. Competitive Analysis (do both primary competition and secondary AND give a competitive advantage of each.) Be detailed in analyzing your competition. 5. Marketing Strategy – Define your potential market and your target market. Include from this in your financials your potential revenue/sales from this Market. Define your target market specifically and overall market potential for yours. Product/Service full description and inclusive details of your product and service Price of your products/services and strategy behind pricing Promotion - complete promotional strategy including social media/digital marketing Place/Distribution – how you distribute product and/or services and details behind this. a. b. c. d. 6. 7. 8. 9. Operations – hours of operation, facility type, sources of products and suppliers, and details of these as well as how you will handle inventory, software/hardware requirements, how you will run your business details and the entire process of providing product or service to customer, including how you control quality. Define physical layout or process of service depending on business. Human Resource Requirements – Description of positions and employees and how they will be managed including hiring, training, and orientation. Financials (see Power Point under “Content” tab and “Business Plan Project”) Put this information in readable table or financial format (not just text in paragraph). • Start Up Budget • Projected Monthly Sales/Revenue (and how you got to this) based on your Target Market and Market (Can project after year also if deficit compared to expenses and expect Increase) • Monthly Expenses (Can project out for a year also) Sources from statistics and information. Oral Presentation: 50 points) (SEE GRADING RUBRIC In Drop Box) (Who will present on what days will be determined later) Mandatory attendance on all three presentation days or an automatic deduction of 25 points total project and you will be assessing other group’s oral presentations which will count as 25 points of 50 point total. • • • • • If a group, all of you must present a part of the oral presentation Should include a PowerPoint presentation and this should be appropriate for plan Keep in mind the rules of Power Points and your audience You are presenting to sell your idea so you don’t have to restate everything in your written plan but should summarize the major points. Should be about 10 minutes long (NO LONGER THAN 13 minutes!!! Practice so you know) 5 Bus 115 ARAPAHOE COMMUNITY COLLEGE BUS 115 Introduction To Business • Practice! Don’t read slides, be professional for the presentation! • Presentation should be about 5-7 slides. -Present your title and name of business, your business description (executive summary maybe, your description, mission statement or objectives or some combination of these) - Marketing Plan (may be more than one slide) - Management or Operations if important to business - BRIEF summary maybe of financials like total expected sales or start up costs or expenses - PICTURES ARE WORTH A THOUSANDS WORDS!!! GUIDELINES FOR POWERPOINT http://www.nvcc.edu/home/lshulman/PowerPoint.htm These are a set of good rules! And: Ten Commandments of PowerPoint Presentations To give you a quick start on how to design presentations with a bit of polish and pizazz, here are the Ten Commandments of PowerPoint® Presentation Design. They are the first steps to designing heavenly presentations. 1. Thou shalt not clutter a slide with bullet points. 2. Thou shalt use text and graphics colors that have high contrast with the background. 3. Thou shalt ensure that text is large enough to be read by those sitting in the back of the room. 4. Thou shalt never use animations gratuitously. 5. Thou shalt choose transitions that reveal slides in logical ways. 6. Thou shalt design only uncluttered, balanced slides with white space to ensure aesthetic composition. 7. Thou shalt use graphics rather than bullet points if it more clearly transmits information. 8. Thou shalt design slides that are pleasing to look at. 9. Thou shalt never need to say "I know you can't read this but...". 10. Thou shalt honor thy audience by designing presentations that are interesting and engaging. Article Source: http://EzineArticles.com/227204 6 Bus 115
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