10X Challenge

Business Plan

Answer the below questions to start to bring your business idea to life!

What is your 10X idea?

What is your company name? Have you designed a logo? Written a slogan?

Are you planning to add sustainability or community impact in any way? If yes, explain how?

Who will be your target customers? Why?

What resources do you need? Who can you buy these from?

10X Challenge • Business Plan

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 10X Challenge
Business Plan

Your Finances

What are your costs? What will your selling price be?

Estimated sales? What would your profit be?

How can you promote your company to sell your products/services? Are there ways to engage in your
community or with local companies to create interest in your company?

Summarise briefly your SWOT analysis

Strengths Weaknesses

Opportunities Threats

How would you spend any profit if you made it? Do you have plans to donate to a charity or community project?

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 10X Challenge
Business Plan Guidance Notes

Use this guidance notes to help your complete your

10X Challenge Business Plan

What is your 10X Challenge idea?

Product/service or organising an event

Are you planning to add sustainability or community impact in any way?

If yes, explain how?

Sustainability
Thinking about the impact on the planet and communities before making decisions.
Will you recognise sustainability? Will you research and select suppliers who operate
as sustainably as possible. Consider product packaging choosing recycling or
eco-friendly where possible.

Community Impact
Taking practical action in order to create positive social change by supporting your
wider community. Can you identify any opportunities?

Costs

Sales – Costs

Complete your SWOT analysis

SWOT consists of examining your student company strengths, weaknesses,

opportunities and threats in its business environment.

SWOT looks at two types of environments: the internal environment of your team,
which focuses on strengths and weaknesses, and the external environment, which
focuses on opportunities and threats.

e.g.
Strengths What are you good at?
Weaknesses Where will you have opportunities to improve?
Opportunities Where do you see your best options?
Threats What do you see as obstacles? Any competition?

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