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Objectives

:
1.Explain the use of a business
plan.
2.List down the parts of the
business plan.
3.Identify each key elements
of the business plan.

Activity: Tower Challenge
1.Build a tower using
straw and scotch tape.
2.Highest tower get 5
points the rest will get 2
points.

provide detailed information about your short and long term goals.A written documents that describes and analyze business.1. .What is a business plan? . your strategies for achieving those goals.

It shows company’s strengths and weaknesses as they relate to the market.Essential parts of qualifying for funding and finding investors.. . .

Parts of a business plan .2.

A one- sentence description about your business.Market Need. .a “problem” your product is responding to by being in the market. b.a.Value Preposition.

Who else in the market is doing similar things and why your products are better? . A description of your product. d.c. Your Solution. Competition.

Target Market . how many of them will you sell this year.Who buys your products (or will buy your products)? f. and how will I make a profit? . Financials: Budgeting & Forecasting- How much does it cost you to produce one of your products? How much do your products cost.e.

Management Team .Who are you.What are your business achievements? What are you working toward? i.How do (or will) you market your products? h. Milestones . and why are you the right person to lead your venture? .g. Sales Channels & Marketing Activities .

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3. Key Elements of the Business Plan .

ideal entrepreneur has industry and management experience.There should be effective communication processes (constructive criticism) .a.There should be seasoned members or other mentors who can give advice. . New Venture Team • Team quality . .

•Target Market (type of customers) •Market Need (demand for your product) .b. Market Analysis and Sizing •It looks into the size of the market both in volume and value.

•Macro level analysis -location. profile of your customers -natural/ physical forces such as resources -technological factors such as skills and knowledge in production -social and cultural forces .

•Micro level analysis -Suppliers -Resellers -Customers -Competition .

Competitor Analysis •Competitive advantage (it is the ability to prevent others from exploiting the same opportunity) •Intellectual property or IP(it can be any product of the human intellect that has value in the market place) .c.

Patents 2. Copyrights 4. Trade secrets 5.There are five main instruments of IP protection: 1. Trademark 3. Licensing .

Marketing Plan •It shows your marketing strategies. •Without marketing consumers cant find out about you •Unique selling position or USP (what you have that competitors don’t) .d.

Financing the Venture -Building credibility to the investors to finance your business.e. . Potential Market . f.This shows the group of consumers that show some level of interest in a market as well as the people that are not buying from you today but could potentially become customers.

It states that entrepreneur should have industry and management experience. This element is important for the customers to find out about your market.Quiz 1 Direction: Choose the correct answer from the given choices. 1. 2. .

.3. 4. This consider as a product/ service of the human intellect which has a value and should be protected. It is a part of the business plan which answered the question “who buys your product or who will buy your product?”.

. 6.5. It is a written documents that can convince investor to fund your business. This made your product exceptional from other product that made customers buy your product.

This part of the business plan shows how an entrepreneur will sell or market his/ her product. 8. It is the element of a business plan which shows the potential of your product in the future.7. .

This level of analysis consist of components within the market such as the suppliers. This part of the business plan states the problem of your customer that needs to be solved.9. 10. resellers and customers. .

.Search on how to create a title for your business plan. 4. 2. 3.List down 10 products or services that you would want to put up as your business.Assignment 1.Review the parts and key elements of the business plan for recitation.Create a title from the products/ services that you chose from your list.