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SESSION 8: INTEGRATING AND CONTROL
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TOPICS COVERED
Participants will produce a formal business plan that will include a component of each of the following:
Week 1: IntroductionWeek 2: EntrepreneurshipWeek 3: Idea developmentWeek 4: MarketingWeek 5: Competitors and Organisational and legal structureWeek 6: Technical developments and Risk assessmentWeek 7: FinanceWeek 8: Integrating and controlWeek 9: Guest speakersWeek 10: Summary
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CONTACT DETAILS
SURGERY HOURS
On Request
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Part 1
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Introduction/Executive summary• A brief summary of the whole business plan• It must be eye/attention catching• This is normally the last paragraph you write• Logical sequence:– Broad background/trends– Which resulted in your specific product/service idea– Your vision for the product/service– The uniqueness – The purpose of the business plan
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Brief description of your business
• Name of the business• Address• Fax number; Telephone number; Mobile number; E-mail address• Contact person• When the organisation was started• Vision/mission of the organisation• Products/services that the organisation provides
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Your product or service
• Product/Service• Aim of product/service (characteristics of customers and
what needs are addressed)• Unique characteristics of product/service• Technology required to deliver/produce product/service• License/Patent needed to develop/sell product/service• Future potential of product/service • Competitors and their strengths and weaknesses
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Organisation structure
• Describe the number of staff, their roles, experience and training required
• List the consultants/advisors that will be used• Legal structure
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Sales and marketing
• Pricing of product/service (indicate how calculated)
• Promotion (e.g. advertisements, social media instruments)
• Location and why• Special activities to sell product/service
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Business operations
• The production process• The capacity of the production process• Equipment necessary in the production
process• What will happen in case of breakdowns• Describe the premises and location
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Financial considerations• Financial requirements
– Item– Source of funding– Price of item– Guarantees– When required– Deals on offer
• Expenses budget• Break-even• Cash flow analysis• Income statement• Balance sheets
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Risks
• What are the biggest risks• How will you manage it
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Summary
• End in a positive sentence• Indicate that you are eager to implement idea
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References
• Need at least 6 references• Must be indicated in the text as well• Can include: reference books; web sites;
newspaper articles; interviews
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Useful ResourcesUseful Resources
You can download workbooks, spreadsheets and examples at :
http://www.businesslink.gov.ukHome > Finance and grants > Cash flow > Financial and management accounts: the basics
http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1073869162
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Part 2
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Introduction
• The purpose of this assignment (to analyse another’s business plan, use that as reflection to improve own skills)
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Description of peer's business idea
• The person• The business• The idea
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Lessons learned
• What have you learned from that business plan?
• Are there any solutions you would consider implementing yourself?
• What would you do differently?
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Your reflection about self-employment
• Will you be able to create your own employment?
• Motivate your answer
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Own development needs
• What are your development needs with regards to starting a business?
• How can you work on those needs and improve?
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Summary
• Summarising what you have learned from this assignment
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References
• At least 5 references
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Exercise
• For the next session analyse the business plan for LIGHT-GUARD MANUFACTURING LTD.
• following business plan and indicate:– What are good– What needs additional attention
• http://www.ncge.com/communities/education/reference/search/basic/Business%20plan/5
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ANY QUESTIONS?