SESSION 8: INTEGRATING AND CONTROL

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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On Request

Part 1

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

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

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

Organisation structure

• Describe the number of staff, their roles, experience and training required

• List the consultants/advisors that will be used• Legal structure

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

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

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

Risks

• What are the biggest risks• How will you manage it

Summary

• End in a positive sentence• Indicate that you are eager to implement idea

References

• Need at least 6 references• Must be indicated in the text as well• Can include: reference books; web sites;

newspaper articles; interviews

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

Part 2

Introduction

• The purpose of this assignment (to analyse another’s business plan, use that as reflection to improve own skills)

Description of peer's business idea

• The person• The business• The idea

Lessons learned

• What have you learned from that business plan?

• Are there any solutions you would consider implementing yourself?

• What would you do differently?

Your reflection about self-employment

• Will you be able to create your own employment?

• Motivate your answer

Own development needs

• What are your development needs with regards to starting a business?

• How can you work on those needs and improve?

Summary

• Summarising what you have learned from this assignment

References

• At least 5 references

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

ANY QUESTIONS?