Entrepreneur Module 2 FINALforgrade12.pptx

Entrepreneur Module 2 FINALforgrade12.pptx

1. GRADE 12

2. GRADE 12

3. The company is targeting a very large potential market. - Michael Greely GRADE 12

4. What do I need to learn? At the end of this lesson, the learner should be able to; 1. Explain what is a business plan, its focus, types and content. 2. Distinguish Business Plan from Feasibility Study. GRADE 12

5. BUSINESS PLAN GRADE 12

6. INTRODUCTION A  business plan  is a written document that describes in detail how a  business usually a startup—defines its objectives and how it is to go about achieving its goals. A  business plan  lays out a written roadmap for the firm from marketing, financial, and operational standpoints. GRADE 12

7. INTRODUCTION A business plan is a fundamental document that any startup business needs to have in place prior to beginning operations. Banks and  venture capital firms  indeed often make writing a viable business plan a prerequisite before considering providing capital to new businesses. GRADE 12

8. INTRODUCTION A good business plan should outline all the projected costs and possible pitfalls of each decision a company makes. Business plans, even among competitors in the same industry, are rarely identical. But they all tend to have the same basic elements, including an executive summary of the business and a detailed description of the business, its services, and its products. It also states how the business intends to achieve its goals . GRADE 12

9. INTRODUCTION The plan should include at least an overview of the industry of which the business will be a part, and how it will distinguish itself from its potential competitors. GRADE 12

10. FOCUS OF A BUSINESS PLAN Externally focused plans target goals that are important to external stakeholders, particularly financial stakeholders. They typically have detailed information about the organization or team attempting the goal. Internally focused business plans target intermediate goals required to reach the external goals. They may cover the development of a new product. A new service, a new IT system, restructuring of finances or the refurbishing of a factory. GRADE 12

11. CATEGORIES OF BUSINESS PLAN Business Plan for Profit- typically focuses on financial goals. Marketing Plan- targets changes in perception and branding as its primary goals. GRADE 12

12. CATEGORIES OF BUSINESS PLAN Project Plan- describes the goals of a particular project. Business Plan for Non-Profit and government agency- tends to focus or service goals. GRADE 12

13. CATEGORIES OF BUSINESS PLAN Operations plan- describes the goals of an internal organization, working group and department. GRADE 12

14. CONTENTS OF BUSINESS PLAN Executive Summary – a brief overview of the entire plan that highlights its key points. Background Information and History – It’s an introduction to the business plan and helps readers understand the company’s origins. GRADE 12

15. CONTENTS OF BUSINESS PLAN Marketing Plan/Market analysis - provides insights into potential customers and your competition. Marketing Strategy – to convince customers to buy its products or services. GRADE 12

16. CONTENTS OF BUSINESS PLAN Management Planning – outlines a company’s goals, objectives and strategy. Development Plan - A document that outlines a business owner’s goals for growth and how they achieved. GRADE 12

17. CONTENTS OF BUSINESS PLAN Financial Planning –the process of assessing the current financial situation of a business to identify future financial goals and how to achieve them. Store Design Customer Flow –the way customers move through a physical space, from entry to exit. GRADE 12