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Anonymous
timer Asked: May 9th, 2014

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First Screen Template Farruk.docx 

First Screen From “Preparing Effective Business Plans” by Bruce R. Barringer Part 1: Strength of Business Idea Name or type of business: For each item, circle the most appropriate answer and make note of the (-1), (0), or (+1) score. Low Potential (-1) Moderate Potential (0) High Potential (+1) Weak Moderate Strong 1. Extent to which the idea: • Takes advantage of an environmental trend • Solves a problem • Addresses an unfilled gap in the marketplace 2. Timeliness of entry to Not timely market Moderately timely Very timely 3. Extent to which the idea “adds value” for its buyer or end user Low Medium High 4. Extent to which the customer is satisfied by competing products that are already available Very satisfied Moderately satisfied Not very satisfied or ambivalent 5. Degree to which the idea requires customers to change their basic practices or behaviors Substantial changes required Moderate changes required Small to no changes required Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Part 2: Industry-Related Issues Low Potential (-1) Moderate Potential (0) High Potential (+1) 1. Number of competitors Many Few None 2. Stage of industry life cycle Maturity phase or decline phase Growth phase Emergence phase 3. Growth rate of industry Little or no growth Moderate growth Strong growth 4. Importance of industry’s products and/or services to customers “Ambivalent” “Would like to have” “Must have” 5. Industry operating margins Low Moderate High Part 3: Target Market and Customer-Related Issues Low Potential (-1) Moderate Potential (0) High Potential (+1) 1. Identification of Difficult to identify target market for the proposed new venture May be able to identify Identified 2. Ability to create “barriers to entry” for potential competitors Unable to create May or may not be able Can create to create 3. Purchasing power of customers Low Moderate High 4. Ease of making customers aware of the new product or service Low Moderate High 5. Growth potential of target market Low Moderate High Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Part 4: Founder- (or Founders-) Related Issues Low Potential (-1) Moderate Potential (0) High Potential (+1) 1. Founder or founders experience in the industry Moderate experience Experienced 2. Founder or founders No skills skills as they relate to the proposed new venture’s product or service Extent of the founder None or founders professional and social networks in the relevant industry Extent to which the Weak proposed new venture meets the founder or founders personal goals and aspirations Moderate skills Skilled Moderate Extensive Moderate Strong Likelihood that a team can be put together to launch and grow the new venture Unlikely Moderately likely Very likely Low Potential (-1) Moderate Potential (0) High Potential (+1) 3. 4. 5. No experience Part 5: Financial Issues 1. Initial capital investment High Moderate Low 2. Number of revenue drivers (ways in which the company makes money) Time to break even One Two to three More than three More than two years One to two years Less than one year Financial performance of similar businesses Ability to fund initial product (or service) development and/or initial startup expenses from Weak Modest Strong Low Moderate High 3. 4. 5. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall personal funds or via bootstrapping Overall Potential Each part has five items. Scores will range from -5 to +5 for each part. The score is a guide—there is no established rule-of-thumb for the numerical score that equates to high potential, moderate potential, or low potential for each part. The ranking is a judgment call. Score (-5 to +5) Overall Potential of the Business Idea Based on Each Part Part 1: Strength of Business Idea High potential Moderate potential Low potential    Part 2: Industry-Related Issues High potential Moderate potential Low potential    Part 3: Target Market and Customer-Related Issues High potential Moderate potential Low potential    Part 4: Founder- (or Founders-) Related Issues High potential Moderate potential Low potential    Part 5: Financial Issues High potential Moderate potential Low potential    Overall Assessment High potential Moderate potential Low potential    Suggestions for Improving the Potential Summary—briefly summarize your justification for your overall assessment: Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall

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