A business plan proposal is one of the most demanding writings. But do not worry, we can help you write a perfect business plan proposal.
You must hand in an outline of your business idea early in the semester. This initial outline should describe your product/service idea, how you arrived at the idea, and what you feel the market potential is for this proposed venture.
Begin by reading Chapters 1-3 of your textbook Small Business: An Entrepreneur’s Plan. If you are experiencing difficulty with the development of your business idea, consult the
The B.C. Government’s website for starting a business:
Or check out www.trendwatching.com for the latest consumer trends and opportunities.
When developing your business idea, keep the following requirements in mind:
Remember: The objective of this proposal is to stimulate the interest of the reader to the extent that they will want to review the full business plan.
Make sure to include the TYPED Business Planning Exercises in your Proposal. It is not necessary to retype these exercises as you have access to this assignment online. Refer to the Evaluation Form provided with the assignment and include in your proposal. Your instructor will return your proposal as quickly as possible, stating whether your idea has been approved. If you have questions about the proposal or the possibility that the idea may not be approved, you should discuss it with your instructor prior to the proposal due date.
BUSINESS PLANNING EXERCISE #1
With your partners, work your way through steps 1-5 of the opportunity selection process in Chapter 3 of your text (pp. 72-79.) This is the pre-work for this assignment and does not have to be submitted.
Develop a matrix grid (Step 6 and Action Step 22, pp. 80) in the space below. Make sure to use a rating system to evaluate the opportunities.
Based on the matrix analysis you have performed, what are your top three opportunities? Which one business idea are you going to pursue and why?
BUSINESS PLANNING EXERCISE #2
Focusing on Your Business Idea
Many people begin their businesses too hastily. They open their doors without having a firm grip on what products or services they will offer or without determining why their business will be unique.
Instructions: Think carefully about your answers to the following questions as they relate to your new venture idea. Remember, well thought out answers will help you develop your final business plan.
BUSINESS PLANNING EXERCISE #3
Description of Your Business
Developing a well-written, concise, and complete description of your business is one of the first tasks that you must complete before you can develop a business plan. Describing your business idea will help you clarify your thinking. Think of yourself riding up 50 floors in an express elevator. You have 30 seconds to explain to the occupants what your business is all about.
Instructions: Draft a brief description of your proposed business. Make sure to define your market, describe your focus, promote your management team and differentiate yourself from the competition. Think of your audience as a potential source of investment capital. Limit your description to 50 words maximum. (Hint: the answers to questions in Business Planning Exercise #2 will help you. You may also want to look at Develop Your Pitch, pg. 58 in the text)
BUSINESS PLANNING EXERCISE #4
Identifying Information Needs
Identify the sources of information you need to complete your plan, where you are going to obtain the data, a time frame to realistically achieve these goals, and which team member is responsible for securing this information. Be as detailed and specific as possible.
Date. Team Member Responsibility.
Research is key to a successful start-up. Most businesses fail because of a lack of upfront research and understanding of the industry, market and competition resulting in losses of money, relationship and personal well-being. This is a critical part of the course requiring early involvement and work to set your team up for success…just as it would in the real business world.
This is a 1-2 addendum showing relevant research information in three key areas of:
From your industry research what assumptions can you make about your business – growth rate, trends, risks, opportunities etc. ?
From your research what assumptions can you make about your target market and sales expectations?
Is there a market gap? If so, what? If not, is there room for another competitor?
BUSINESS PLAN PROPOSAL
(Note: Not all grading is of equal weight)
Name/s ___________________________ Company ____________________________
___________________________ Date Received____________________________
Presentation and Writing Style
– General Organization 10 9 8 7 6 5 4 3 2 1 0
– Spelling/Typos 10 9 8 7 6 5 4 3 2 1 0
– Grammar 10 9 8 7 6 5 4 3 2 1 0
– Idea Description 10 9 8 7 6 5 4 3 2 1 0
clear, benefits, target customer
– Strengths of Idea 10 9 8 7 6 5 4 3 2 1 0
market need, competitive advantage
– Weaknesses/Risks of Idea 10 9 8 7 6 5 4 3 2 1 0
Identification of risks/weaknesses, strategies to improve
– Management Team 10 9 8 7 6 5 4 3 2 1 0
roles, experience, advisors
– Start-up Costs 10 9 8 7 6 5 4 3 2 1 0
projected costs, realistic resources
– Business Planning Exercises 10 9 8 7 6 5 4 3 2 1 0
thorough, prepared, completed
Research Fact Sheet 10 9 8 7 6 5 4 3 2 1 0
OVERALL EVALUATION /10