BUS115 Small Business Management

BUS115 Small Business Management

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One vehicle for acquiring an understanding of the entrepreneurial process is through the preparation of a start-up business plan. The focus of this TMA is to select a business idea and create a complete and persuasive mini- business plan. Writing a business plan requires you to ask tough questions about the nature of the business. What are the benefits of your product or service? What is the target market and how will you penetrate it?  How will you develop and produce the product or service? What is required from the management team?  What are the risks of the venture and what can you do to reduce them? What are the financial implications of the plan?  What resources, including funding, are required to successfully create the business plan? TMA component: The Written Plan: The body of the written business plan should be no more than 10 pages including the executive summary and all financial statements. Plans must include an explanation of the offering to investors that indicate the investment required, marketing plan, operations plan, Financial plans, and management team description. 1. Introduction 2. Executive summary: Major Objectives, Description of Product(s), Financial Projection, Marketing Strategy. 3. Description of the business 4. Description of the market: Target Market: Who? How Many? Analysis of Competition: How Many? Strengths and Weakness? Market Penetration Projections and Strategies 5. Description of the products: What Is to Be Developed or Sold? 6. Management structure: Owners and Their Experience 7. Goals/Objectives/Strategy: Revenue Forecasts Marketing Plans How Sales Are to Be Made Advertising and Sales Promotion Manufacturing Plans Financial Plans 8. Financial Analysis