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Stand Alone Project: New Venture Business Plan

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The Stand-Alone Project for this course requires you to assume the role of an entrepreneur and to create a business plan for a new venture of your own choosing. The business plan should contain the following major sections in the order they are shown below. The Stand-Alone Project follows the progression of the textbook, and you will find that the specific details regarding the requirements for the Stand-Alone Project are explained in the Required Readings for each Assignment. Stand-Alone Project Benchmarks, located near the end of each assignment, give you an indication of which part of the Stand-Alone Project corresponds to the information covered in the assignment, and you will find it helpful to use these benchmarks to pace yourself in the completion of your Stand-Alone Project. (A 25-page paper plus appendices is required.) NOTE: Create a cover page (company name, the words Business Plan, the name of the contact person for the new venture, and the business’ address and telephone number) and place it before (in front of) Part A. (Do not count the cover page as part of the total number of pages required for the Stand-Alone Project.) Plan Outline e as a guide to developing your own plan) Part A Executive Summary: This section should not exceed five (5) pages in length. Be sure the Executive Summary answers the following key questions and includes evidence or support for your claims from credible sources, such as your own industry research and primary research with potential customers. 1. What is your business concept? Include information about your business, customers, benefits, and distribution. 2. Does your industry support the feasibility of the concept? Explain. 3. Is there customer acceptance for your business and its products/services? What is the demand? 4. What is your entry strategy? How will you achieve initial market penetration and obtain your first customer? 5. Who are your key competitors, and how will you differentiate your business from the competition? 6. What is your pricing strategy, and how do you justify it? 7. Does your founding team have the capabilities to implement the plan successfully? If not, how will you find these capabilities? 8. How will your business be designed to facilitate implementation in terms of legal structure, organizational structure, and process? 9. In one paragraph, what is your marketing plan? 10. Does your financial plan support a viable business? Include a summary of key points and capital requirements (i.e., a needs assessment). 11. How will you fund the business? 12. Does the market support a potential for growth? What are your key growth plans? Part B Proof of Concept: This page in your business plan condenses the Expanded Executive Summary down into one page. Answers in this section, for questions 1, 2,3, 4, 5, 7, and 10 from Part A, should be concise, yet complete. NOTE: A detailed Table of Contents for the report should be created and placed on a separate page between Parts B and C. (Do not count the table of contents as part of the total number of pages required for the Stand-Alone Project.) Part C Business Concept: Include the following information in this section. 1. Business Concept Statement (i.e., product/service, customer, benefit, distribution) 2. Purpose of the Business (i.e., why you are in business) 3. Core Values 4. Description and Uses, Unique Features/Benefits, Business Model 5. Primary Customer(s) 6. Spin-Offs or Secondary Market Part D Management Team: Include the following information in this section. 1. Qualifications of Key Managers (founders) 2. Management Team Needs (or gap analysis) Part E Market Analysis: Include the following information in this section. 1. Industry Description a. Industry Size b. Industry Status (growing, mature, in decline – overall health) c. Growth Potential d. Geographic Locations e. Trends, Patterns of Change, and Entry Barriers f. Profit Potential g. Sal

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