Professional Documents
Culture Documents
WMU Business Proposal Project OK
WMU Business Proposal Project OK
Entrepreneurship
WesternMichiganUniversity
Business
ProposalProject
Fall2011
Due
December12,2011
TableofContents
ProjectOverview
RequiredContent
ContentGuide
WrittenProposalFormatGuide
WrittenProposalGradingRubric
PosterPresentation
PosterPresentationRubric
TeamEvaluationRubric
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BusinessProposalProject
FCS3300EntrepreneurshipinFCS
Overview
Althoughanentrepreneurialventureisoftenthebrainchildofanindividualorgroupofindividuals,
launchinganewventureusuallyrequiresoutsidesupport.Smallbusinessesrequirestartupfundsfromlending
institutions,familyandfriends.Thesuccessfullaunchofanewproduct,serviceorbusinessprocesswithina
largecorporationrequiresthesupportofmanagementandlinestaff.Introducinganewideatoaservice
organization,schoolorcommunitygroupcanbemoresuccessfulwhenkeypeopleintheorganizationbuyin
totheconcept.
Convincingotherstosupportyouridearequirespersuasivecommunicationskills.Persuadingothersthatyour
venturewillbesuccessfulrequiresthatyouhaveauniqueidea,andthatyouhaveresearcheditsfeasibility.
Successfulpersuasionalsodependsonconvincingothersthattheprojectsgoalscanbeaccomplishedusinga
reasonableamountofresources.
Theprojectinthecourseinvolvesworkinginateamtodevelopabusinessideaandproduceathoroughly
researched,wellwritten,andflawlesslypresentedBusinessProposal.TheProposalwillcontainthefollowing
information:
Businessdescription
Marketingplan
Mission/visionstatement
Operationalplan
Marketanalysis
Financialplan
Competitiveanalysis
Aswemovethroughcoursetopics,wewillbelinkingideas,concepts,theoriesandprocessestothe
BusinessProposalproject.Thefinalprojectwilltaketheformofaformalbusinessplan,andwillfollow
formatspresentedinourtextandinotherresources.Detailsrelatingtothecontentandpresentationof
eachsectionoftheproposalwillbepresentedthroughoutthesemester.
Evaluationofteamproposalswillbebasedonbothcontentandpresentation.Specialconsiderationwill
begiventoevidenceofapplicationofcourseprinciplesandconcepts,including:
Purposeandcontextofabusinessproposal;includeswritingstyleandphysicalfeaturesofthe
completedplan.
Abilitytowriteamissionstatement
Beabletowriteaneffectiveexecutivesummary.
Abilitytoprovideanddefendarationaleforownershipform.
Clearlyarticulatebusinessdescriptionpurpose,competitiveadvantageandcorecompetencies.
Demonstrateevidenceofmarketresearchinpreparationofmarketanalysisandstrategy
development.
Presentanddiscussbasicfinancialinformationtosupportthebusinessplan.
Beabletojustifydecisionsusingrelevantbusinessprinciples.
Usecomputertechnologyandformattingguidelinestoprepareaprofessionalproduct.
BusinessProposalDevelopmentProcess:
Step1:Eachstudentwilldevelopanideaforanew,innovativeretailbusinessthat
servesacompellingneed.Eachstudentwillconductafeasibilityanalysistosupportthe
idea.(WritingAssignment#2.)
o Aretailbusinessisdefinedasafirmthatsellsaproductorservicetothe
ultimateconsumerofthegood/service.Thus,abusinesswhichproducesa
productandthensellsittoaretailerdoesntfitthisprojectsparameters.You
could,howeverproduceaproductorserviceandthensellitdirectlytothefinal
consumeryourself.
o Thereareseverallimitationsonthebusinessidea:
Thebusinesswillbeonethatwouldthriveinthetargetcommunity.
Nofoodservice*/bars.
Youshouldpersonallyhavesomelevelofcompetency/understandingof
theproductsorservicesthatyoupropose,andthetechnologytocreate
theproductorservicemustbeavailable.
Step2:Businessideaswillbeevaluatedbytheclassinsmallgroups.Themost
viable/innovative/entrepreneurialideaswillgoforward.
Step3:Teamswillworktogethertorevise/improveideas,andthenmovetheidea
forwardtothebusinessproposal.
Whatcanyoudotopreparerightnow?Practiceyouropportunityseekingskillsand
thinkaboutideasforaninnovative,creative,retailconceptthatwouldsucceedin
DowntownKalamazoo,Michigan.
BusinessProposal
RequiredContent
TheWrittenBusinessPlan
willinclude:
ExecutiveSummary
Businessdescriptionand
Visionstatement
Marketanalysisand
Competitiveanalysis
Marketingplan
Operationalplan
Financialplan
Summary
Appendix
References
FormatOutlineSection
(p.127129)
inZimmerer)
I.
RefertoContentinthese
Chapters
II
3,4,5
IV,IX
VI,VII,VIII
8,9,10,14
X;XI
4,16
XII;XIII
4,11,12,13
Allsection
Provideabriefconclusionof
keypointsattheendofthe
plan.
XIV
Includeanysupporting
materialsthatsupportyour
plansclaims.
Listofallreferencesused,inAPAformat
BusinessPlanPresentation
TheBusinessPlanshouldbepresentedina3ringbinderintheorderbelow.Usesection
dividerstoorganizeeachsection.
Pleasedonotusemylarsheetcovers.
FollowguidelinesforproposalpresentationfoundinZimmerer,Chapter4.
Thefinalproposalwillbeevaluatedusingtheattachedrubric.Includeacopyofthe
evaluationrubricatthefrontofthenotebook.
Approximatelength:810pagesfornarrative,plusExecutiveSummary,Appendixand
References.
DueDate:Pleaseseesyllabus
BusinessProposalProject
ContentGuide
Thissectionpresentsthequestionsthatyourbusinessproposalshouldanswer.Reviewthechapters
andlecturenotesforguidanceonpreparingresponsestoeachquestion.Keepinmindthatthefinal
proposaldocumentshouldnotbepresentedinquestion/answerformat,butratherfollowthe
writtenproposalformatguide.
BusinessPlanDevelopment
BusinessDescriptionandVision
Thissectionanswersthefollowingquestionsforthereader.RefertoSectionIIintheBusinessPlan
Outlineinyourtext(pp.127129),andcontentinChapters3,4&5toguidedevelopmentofthis
section.
BusinessDescription
Whatisthepurposeofyourbusiness?
Whatvalueswilldriveyourbusiness?
Whatproductsand/orserviceswillyouoffer?
Whichsupplierswillyouuse?Giveoneortwoexamplesineachproductcategory.
Whatplansdoesyourbusinesshaveforfutureproducts/servicesofferings?
Whoisyourtargetcustomer?
Whatarethecorecompetenciesthatyourbusinesswillneedtoachieveitsmission,goalsand
objectives?
Whatistheproposedlegalorganizationofyourbusiness?Whydidyouchoosethisform?
Vision
Provideamissionorvisionstatementforthebusiness.FollowguidelinesinChapter4ofyourtext.
BusinessPlanDevelopment
Marketandindustryanalysisandcompetitiveanalysis
Thissectionanswersthefollowingquestionsforthereader.RefertoSectionIVandIXinthe
BusinessPlanOutlineinyourtext(pp.127129),andcontentinChapter8toguidedevelopmentof
thissection.Youcanbuildonthefeasibilityanalysisthatwasconductedforthisbusinessideaforthis
section.
Marketandindustryanalysis
Whatarethedemographic,psychographicandbehavioralcharacteristicsofyourtargetcustomers?
Howdoyoudescribeyourtradingarea?
Whatisthesizeofyourmarket?
Whyisthisanattractiveindustrytoenterrightnow?
Whatdoesittaketobesuccessfulinthisindustry?
Isthemarketforyourproducts/servicesgrowing,stable,declining?
Whataretheimportantandrelevanttrends(social,economic,cultural)thatarelikelytoinfluence
yourmarketinthenext13years?
Whatistheeconomicenvironmentlikeinyourtradingarea?
Whatistheeconomicandsocialenvironmentlikeinyourtradingarea?
Howwillyourbusinessexploitcurrentopportunities(positiveexternaloptions)inthemarket?
Whatnegativeexternalforcesmayinhibityourbusinessabilitytoachieveitsmission,goalsand
objectives?
Competitiveanalysis
Which3existingbusinesseswillyourcompanycompetewith?
Whatarethestrengthsandweaknessesofeach?
Howwillyourbusinessdifferentiateitselffromyourcompetitors?
Whatimage/positiondoyouenvisionforyourbusiness?
BusinessPlanDevelopment
MarketingPlan
Thissectionanswersthefollowingquestionsforthereader.RefertoSectionVI,VII,andIIIinthe
BusinessPlanOutlineinyourtext(pp.127129),andcontentinChapters8,9,10and14toguide
developmentofthissection.
MarketingPlan
Howwillyourbusinesscombineelementsandstrategicdecisionsrelatedtothe4Ps.
Howwillyoucommunicatewithyourcustomer?
Whatmediawillyouuse?
Whatistheproposedlocationforyourbusinessandwhyitisappropriate?
Whatwillyourstoredesign,layout,signagelooklike?
Whatproductqualitylevelwillbeoffered?
Willbrandedorprivatelabelmerchandisebeoffered?
Whatarethekeyfactorsthatwilldeterminethepricesyoucharge?
Whichstrategywillyouusetointroduceyourbusinesstothemarket?
Whatmarkuporpriceperhourisnecessarytoachieveaprofit?
Willyouoffercredit?Whattypeofcredit?
BusinessPlanDevelopment
OperationalandFinancialPlan
Thissectionofthereportshouldanswerquestionsabouthowthebusinesswilloperatewith
respecttomanagement,staffandleadershipapproach.Thissectionalsopresentsfinancial
forecasts(incomestatement,balancesheetandcashflow)andestimatedstartupcostsand
sourcesofcapital.
OperationalPlan
Whoarethekeymanagersinthebusiness?Whataretheirbackgroundsandqualifications(both
entrepreneurialandmanagerial)?
Whatisthecompanysoverallmanagementstyle?
Willyouneedtohireadditionalemployeestorunthebusiness?Brieflyexplainhowyouwillhireemployeesif
neededinthefuture.
Whatformofownershipwillyouchoosetoorganizeyourbusiness?
Whatdoestheorganizationalchartlooklikeforthefirm?(Whowilldowhat?)
Howwillmanagerialdecisionsbemadeinthebusiness?
Howwillmanagersandemployeesbecompensatedandrewarded?
FinancialPlan
SeePowerpointguidesonelearningforfurtherassistance
WhatdoestheProformaincomestatementlooklikeforthefirstyearofbusiness?Includeaproforma
statementbasedonthebizstatsexerciseintheAppendix,andapagenarrativeexplanationofthefirstyear
incomeandexpensesinthebodyofthereport.
Howmuchcapitalwillbeneededforstartupcosts?IncludeastartupcosttableintheAppendix,andone
paragraphexplanationofstartupcostsinthenarrative.
Howmuchcashwillbeneededinthefirst3monthsofoperation?Includea3monthcashflowstatementin
theAppendix.Provideoneparagraphexplanationinthebodyofthereport.
Howwillyoufinanceyourstartupandcashneedsforthefirst3months?(Wherewillthecapitalcomefrom?).
Includeseveralsentenceexplanationofequityfinancing.
Whatisthetimetableforimplementingyourbusinessplan?
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BusinessPlanFormatGuide
WrittenProposal
ThisguidehasbeenpreparedforstudentsinFCS3300toassistincreatingthewrittenbusinessplan
project.Thisguideincludescontentrequirementsandguidelinesforformattingthereport.
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WrittenProposalFormatGuide
WritingStyle
Thebusinessplanisadocumentwrittentoinformothersabouttheentrepreneursbusinessidea,
andtoconvincereadersthatthisisanideaworthinvestingin.Thepurposeofthereportisnottosell
yourproductorservicetothereader,butrathertoselltheideathatthisisaviablebusinessidea.
Thereportshouldbewritteninaprofessionaltone,takingcaretoavoidslang,clichsandhyperbole.
Useactivevoiceformforthemajorityofyourwriting.
ReportFormat
Font.Use12pointfont,TimesNewRoman,Arial,Calibriorothereasytoreadfont.Useonefont
consistentlythroughoutthereport.Tablesmayuse11or10pointfont.Upto24pointfontmaybe
usedforthetitlepage.
Spacing.Use1.5spacingthroughouttheproposal,exceptfortables,whichmaybesinglespaced.
Margins.SelectmirroredmarginsfromthemarginmenuinMicrosoftWord.Thisresultsina1.5
marginontheleftsideand1inchmarginsontop,rightandbottom.
Pagenumberingandpagebreaks.Thetitlepageisnotnumbered.TheTableofContentspageis
numberedi.BeginnumberingwithExecutiveSummaryaspage1,andcontinuingtonumber
consecutivelythroughtheendofthereport.Placepagenumbersatthebottomofthepageand
center.UserdefinedpagebreaksshouldbeusedafterTableofContents,ExecutiveSummaryandat
theendofthemainbodyofthereport.Themainbodyofthereportshouldflowfromonesectionto
anotherwithnouserdefinedpagebreaks.
Presentation.Thebusinessplanreportshouldbepresentedon8x11whitepaper,andbound
alongleftmarginorin3ringbinderofanappropriatesizeforthereportcontent.Besurethatall
pagesinthereportareuniforminsize,andarealignedcarefully.Printonsinglesideonlythroughout
thereport.DonotuseMylarsheetprotectors.Reportsusingsheetprotectorswillnotbegraded.
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TitlePage
Thetitlepageisthefirstpageofyourreport.Itshouldcontainthefollowinginformation,centered
onthepage:
Titleofyourbusinessandidentificationofdocument.
Date
Firstandlastnamesofteammembers,withWMUemailaddresses
ForExample:
_________________________________________________________________________________
TheFlipFlopShop
BusinessProposal
MM/DD/YYYY
TeamMember1 teammember1@wmich.edu
TeamMember2 teammbember2@wmich.edu
TeamMember3 teammember3@wmich.edu
TeamMember4 teammmember4@wmich.edu
________________________________________________________________
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TableofContents
Thetableofcontentspagepresentsthesectionsofthereportandcorrespondingpagenumbers.
Suggestedlengthofeachsectionisgiveninitalics.(Donotincludesuggestedlengthinyourreport.)
Forexample:
Page
ExecutiveSummary12pages
1
Introductionpage
3
Businessdescriptionandvisionstatementpage
3
MarketAnalysis22pages
35
CompetitorAnalysis12pages
57
MarketingPlan2pages
89
OperationalPlanpage
9
FinancialPlan11pages
910
Conclusionpage
10
Referencesvariablenorestriction
11X
Appendixvariablenorestriction
XX
Numberthispagei.
ExecutiveSummary(12pages)
TheExecutiveSummaryisacomprehensivesummaryofthecontentsofthenarrative.Executive
summariesareoftenusedbypotentialinvestorstodetermineifitisapotentialbusinessideathat
intereststhem.Thissummaryshoulddescribethebusinessproposalincompleteenoughdetailto
communicatetheessenceofallofthebusinessplancomponents.Thissectionshouldbe12pagesin
length.NumberthefirstpageoftheExecutiveSummary1,andcontinuetonumberpages
consecutivelytotheendofthereport.
Beginnumberingthispagestartingat1.
NarrativeSection(maximum10pages)
Providesectionheadingsforeachsection.Eachsectionandparagraphwithinsectionsshould
demonstratestrongorganizationalwritingskills,withclearintroductoryandconcludingstatements.
Introduction
Theintroductionshouldbepage,andshouldintroducethereadertoyourbusinessidea,and
previewthecontentofthenarrative.
Businessdescriptionandvisionstatement
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Thissectionanswersthefollowingquestionsforthereader.Whatisthepurposeofyourbusiness?
Whatvalueswilldriveyourbusiness?Whatproductsand/orserviceswillyouoffer?Whichsuppliers
willyouuse?Whatplansdoesyourbusinesshaveforfutureproducts/servicesofferings?Whoisyour
targetcustomer?Whatarethecorecompetenciesthatyourbusinesswillneedtoachieveits
mission,goalsandobjectives?Whatistheproposedlegalorganizationofyourbusiness?Whydid
youchoosethisform?
Marketandindustryanalysis
Beginthissectionbyansweringthesequestions:Whatarethedemographic,psychographicand
behavioralcharacteristicsofyourtargetcustomers?Howdoyoudescribeyourtradingarea?Whatis
thesizeofyourmarket?
Themarketingandindustryanalysissectionshouldanswerthefollowingquestions.Whyisthisan
attractiveindustrytoenterrightnow?Whatdoesittaketobesuccessfulinthisindustry?Isthe
marketforyourproducts/servicesgrowing,stable,declining?Whataretheimportantandrelevant
trends(social,economic,cultural)thatarelikelytoinfluenceyourmarketinthenext13years?
Thissectionalsoaddressesthesequestions:Whatistheeconomicenvironmentlikeinyourtrading
area?Whatistheeconomicandsocialenvironmentlikeinyourtradingarea?Howwillyourbusiness
exploitcurrentopportunities(positiveexternaloptions)inthemarket?Whatnegativeexternal
forcesmayinhibityourbusinessabilitytoachieveitsmission,goalsandobjectives?Youmaywantto
buildonthefeasibilityanalysisthatwasconductedforthisbusinessideaforthissection.
Competitiveanalysis
Thissectionshouldanswerthesequestions:Which3existingbusinesseswillyourcompanycompete
with?Whatarethestrengthsandweaknessesofeach?Howwillyourbusinessdifferentiateitself
fromyourcompetitors?Whatimage/positiondoyouenvisionforyourbusiness?
Marketingplan
Thissectiondescribesyourmarketingstrategy.Thereportshouldexplainhowthebusinesswill
combineelementsandstrategicdecisionsrelatedtothe4Ps.Thissectionshouldanswerthe
questions,Howwillyoucommunicatewithyourcustomer?,Whatmediawillyouuse?,Whatpricing
structurewillbeused?(discussmarkup,ratesperhourasappliestoyourfirmsactivities).What
pricingstrategywillyoufollow?;Whatistheproposedlocationforyourbusinessandwhyitis
appropriate?Whatwillyourstoredesign,layout,signagelooklike?,andWhatproductqualitylevel
willbeoffered,Willbrandedorprivatelabelmerchandisebeoffered?
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Operationalplan
Thissectionshoulddiscussbrieflythefollowing:Qualificationsofthemanagementteam,decision
makingresponsibilities,staffrequirements,days/hoursofoperation,specialcustomerservice
offerings.
Financialplan
Thissectionshouldpresentthefirstyearproformaincomestatementandfirst3monthscashflow
projectionsintableform.Anarrativediscussionofprojectedsalesforthefirstyear,andexplanation
ofthedatapresentedintheincomestatementandcashflowprojectiontablesshouldbeincludedin
thissection.Iftheteamelectstocompletethebonusbalancesheet,thisinformationcanbeincluded
intheAppendix,asnotedinthePowerpointslidepresentedinclass.
Astatementoffundsneededforstartupshouldalsobeincludedinthissection.Thisdiscussion
shouldidentifythetotalamountneededtostartthebusiness,andidentifyatleasttwosourcesand
amountsofequityfinancinginadditiontotherequestedloanamount.Includeadetailedtable
identifyingstartupfundsneededbycategoryintheAppendix.
Conclusion
Thefinalparagraphshouldsummarizetheessenceoftheplan,withastatementexplainingwhythis
planisworthinvestingin.
References
ListreferencesusedaccordingtoAPAguidelinesandformatting.Thequalityandquantityof
referencesarecriticaltotheoverallqualityofyourproposal.Proposalswithscantreferencesdrawn
fromquestionablesourcesareviewedskeptically,andriskbeingoverlookedbyinvestors.
Appendix
TheAppendixappearsafterthemainpaperandreferencelist.TheAppendixshouldpresent
supportingdatasuchasarticles,reportsandcopiesofdatausedintheplan.TheAppendixmayalso
includelengthytables,suchastheProformafinancialstatements.AllitemsintheAppendixmustbe
referredtointhetextofyourplan.Forexample:ArecentarticleinNationalGardenerindicatedthat
homegardeningisontherise(SeeAppendix).
ItemsintheAppendixshouldbeorganizedintheorderinwhichtheyarediscussedinyourplan.For
example,ifyoudiscussaUSCensusreportonpage2ofyourreport,thendiscusstheNational
Gardenerarticleonpage3,placetheUSCensusreportfirstintheAppendix,followedbytheNational
Gardenerarticle.
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GradingRubric
WrittenProposal
TeamName___________________________________
Gradingrubric/Section
ExecutiveSummary
BusinessdescriptionandVision
statement
MarketanalysisandCompetitive
analysis
Marketingplan
Financialplan
Operationalplan
Summary/conclusion
Appendix:contents,organization
WritingMechanics
PresentationandOrganization
TotalPoints
Points
Scoring
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Writtenproposalswillbeevaluatedonabovecriteria.Themainproposalshouldnotexceed10
pages,withadditionalpagesdevotedtoappendicesandreferences.Includeallelementsdescribedin
thisHandout.Besuretoreviewallrequirementsoftheproject,andbaseyourplanonconceptsand
principlespresentedinreadingsandclassdiscussions.Proposalmustbesubmittedinclassonthe
duedatenotedinthesyllabustobeconsideredforfullcredit.
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Proposal:OralPresentation
FinalExamPosterPresentation
Thefinalexamactivityforthiscourseconsistsofyourteampresentationofbusinessproposal
conceptstotheHastingsbusinesscommunity.Presentationswilltakeplaceduringthetimeslotfor
thefinalexam.Therewillbenoadditionalfinalexamrequirements.
TeamswillcreateandpresentaprofessionalposterbasedontheBusinessPlanwrittenreport
explainingthebusinessconcepttotheHastingscommunity.Detailswillfollowonspecific
requirementsforthisassignment.Thisassignmentisworth50points.Pleaseseetherubricatthe
endofthissectionforpresentationrequirements.
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PleaseseeFinalExamPosterGuidepowerpointon
Elearningforpresentationrequirements.
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GradingRubric
PosterPresentation(FinalExam)
FinalPosterPresentationRubric
Professionalism
Ontimearrival,
preparation,personal
appearance.
Interaction:effective
articulationofproject
concepts.
Posterpresentation:
Organized,clearideas.
Errorfree;
Attractive
presentation;follows
prescribedguidelines.
PointsPossible50
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BusinessPlanTeamEvaluation
Usingonecolumnforeachofyourteammembers,completeanevaluationonthecriterialisted.Your
evaluationshouldbebasedonyourcarefulconsiderationofeachcriterion.PleaseentertheFIRSTandLAST
namesofyourteammembersinthecolumns,andthenenteryourevaluationusingthescalebelow.Totalthe
scoreforeachteammember.ThesescoreswillbecomepartofyourteammembersgradeontheBusinessPlan
Project.
Rateeachbehaviorforeachteammemberonascaleof1to5with5equalingOutstanding.
Nameofteammember
(PRINTFIRSTandLASTname)
Contributedcourserelated
knowledgetoproject
Waswillingtolistento
othersideas
Contributedcreativeideasto
theproject
Contributedafairshareto
theproject.
Wasdependable;attended
meetings,submittedassigned
work.
TotalScoreforeachteam
member
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