Introduction to Business - Business Plan Steps -
A. Cover and Executive Summary
1. Cover presents name of company, title ("Business Plan"), name of student, date and contact information.
2. The executive summary is a one-pager presenting at least one relevant Information from each (customer segments, value proposition...all the way to additional metrics) of the thirteen factors (customer segments, value propositions. channels, customer relationships, key activities, key rosources, key partners, ethics and social responsibility, cost structure, revenue streams, public rotations and advertising, social media, and additional metrics) covered on the business plan.
This Is the part of the plan you do last after all have been dons.
B. Target Customers - Segments
2. List the customer segments the company caters to.
3. Detail each of the customer segments, explaining unique characteristics of each. Who are we solving a problem or fulfilling a need for? Who are the customers specifically?
4. Explain how the value proposition matches those needs.
5. Present two (2) Ideas to exceed customers' expectations.
C. Value Propositions (for this plan, when I refer to products or services, I am actually referring to the ONE product or Service you chose for this plan)
1. Present your goals for the company's products/services, and explain if those are addressing specific problems, opportunities or challenges (what I mean is that you make it clear what need Is the product solving for the client).
2. Clearly introduce the company's products/services (Here you give as much information as possible about the ONE product or service chosen).
3. Explain how the product(s) or service(s) match or exceed customer needs, or are perceived as better or having more value that its competitors.
4. List and explain the company, products or services strengths, weaknesses, opportunities and threats (SWOT analysis).
a. Explain why those are strengths, weaknesses. opportunities and threats for each of the top 3 competitors.
5. Recommend at least two (2) ideas, tactics and strategies for helping you achieve EACH of your goals.
D. Revenue Streams and Pricing
1. List how the company is generating revenue today. If a new startup, your anticipated revenues. Regardless of new or existing, show projections of revenue-costs-profits.
2. Present your recommendations with at least three (3) ideas in details. of how the company can increase its revenue with existing customers, new customers, existing products, new products, existing sales model and new sales models, existing segments and new segments, existing channels and new channels, and others.
3. Present your detailed pricing strategies. and explain how those compare with your competitors.
E. Channels
1. Present the channels most favored by the target customers.
2. Detail one idea to use other channels, another idea to maximize the return of existing channels, and one more idea to create new ones.
F. Customer Relationships
1. Demonstrate how you calculate your customer lifetime value, and show the numbers. Explain.
2. List how the company Is currently attracting customers, keeping and increasing sales to existing customers.
3. Present two (2) ideas to sell more to clients in each of the target segments, two (2) ideas to get them to come back for more or reward them to buy often, two (2) ideas to give advantages for bringing more clients and sharing their experiences, and two (2) ideas to attract new clients.
G. Key Activities
1. List a minimum of five (5) activities required by the value propositions - those fundamental for maximum satisfaction.
a. Present at least one detailed opportunity to maximize the return with each of the key activities listed, and create two (2) new ones.
2. Present all current MOTs (moments of truth) - those moments whore the customer or prospect gets in touch with the brand, company, product, service, employees and any content mentioning those, Identifying which ones to keep or abandon, and creating minimum of three (3) new ones.
H. Key Resources
1. Identify at list three (3) key resources (suppliers, etc..) required by the value propositions - those that are fundamental for the company's success.
a. Present your recommendations with at least two detailed opportunities to maximize the return, or create strategic partnerships to reduce costs and increase efficiency.
I. Key Partners
1. List all key partners, those who are crucial for the company's success.
2. Present at least three (3) detailed ideas of opportunities for maximizing return with current key partners, as well as new Ideas for increasing returns with new partners. Remember to identify all new partners suggested in details.
J. Social Causes
1. List all causes officially supported by the company, and as much detail about its involvement as needed for readers to understand.
2. Present your opinion on the current efforts in 'I-1' above, and your recommendations for strategically take advantage of social causes from a marketing perspective.
K. Cost Structure
1. List the top five (3-5) most important costs in the business model in order of importance.
2. Present your recommendations with at least three (3) new Ideas to maximize resift with creative ways to address the opportunities identified within the cost structure. Examples of that would be to bring on new partners, substitute or replace key resources, outsource, change location, and others. Be sure to always detail your recommendations for implementing each Idea.
L. Calculate Breakeven Point
1. In order to calculate your company's breakeven point, use the following formula: Fixed Costs + (Price - Variable Costs) = Breakeven Point in Units
In other words, the breakeven point is equal to the total fixed costs divided by the difference between the unit price and variable costs. The denominator of the equation, price minus variable costs, is called the contribution margin. After unit variable costs are deducted from the price, whatever is left - the contribution margin - is available to pay the company's fixed costs.
M. Financial Projections
1. Profit and Loss Projection - First 12 months
2. Profit and Loss Protection - First 3 years
3. 12-Month Cash Flow Projections
4. 3-Year Cash Flow Projections
5. OPTIONAL - Complete Financial Projections Spreadsheet
N. Public Relations and Advertising
1. List the company's current advertising choices (minimum of three - it means what types of advertising channels it uses more frequently).
a. Recommend three (3) more effective ways of advertising. Remember to be specific and justify.
2. Present your detailed recommendations with at least five (5) new ideas to increase sharing of the company's sales, promotions and marketing campaigns in general.
O. Social Media
1. DETAIL 5(five) ideas for using EACH of the applicable social media channels YOU RECOMMEND. Link those to the goals. Specify frequency of posts...
P. Additional Metrics
1. Present YOUR TOP TEN(10) metrics for managing your biz. Examples can be 'sales per social media channel', 'sales per square footage', 'sales per employee'....
2. Explain how each of those ten (10) metrics are calculated, and what their readings mean.
Business plan - 30 pages excluding tables, graphs, charts, title pages, table of content, reference and appendix.
Business model - 1 to 2 pages.
Attachment:- Assignment Files.rar