ENTREPRENEURSHIP BUS 125-03 – FALL 2019
WRITING A BASIC BUSINESS PLAN
(No late papers will be accepted)
|Objective and Corporation Selection|
Please let me know your chosen business in Week 8. If you are having difficulty in selecting a business, please contact me to discuss possibilities which will be of interest, and relevant to your own career. I want this paper to be something that you can refer to for years to come, so be sure to choose a business that you are familiar with or would like to do research on for a future business opportunity You will need to decide whether to start a new business, buy an existing one or buy a franchise.
I have learned as much from writing research papers on a topic of interest as I did in some of my classes. Therefore; my objective in having you complete this assignment, is to have you learn as much as possible and be able to utilize the information in the future. You will most likely be expected to provide a Business Plan to obtain financing. A basic business plan will help guide you in thinking through the feasibility of an idea, and it is tailored to the audience who will be reading the plan. It should sharpen your focus and get you off and running!
General Expectations for your Research Paper
The greatest value in any course comes from applying the concepts, theories, and principles explored during class to real life situations and issues. This research paper gives you an opportunity to select a business and research aspects that are required to establish and develop a business plan. Chapter 6 in the textbook is an excellent place to start your research. Also, there is a “Workbook for Developing a Successful Business Plan” on page 418. You will be expected to draw on the concepts and principles from readings, exercises, current events, and class discussions and write a research paper of 8-10 pages to include all of the following categories. You may add to this list if you like. You will not be penalized for writing a business plan that exceeds the 10 page requirement nor will you receive additional points for doing so.
Your paper must include, but is not limited to, the following sections and each section should be identified in your paper with all capital letters, bold and underlined. You may arrange these in any order that would be suited to your business but they all must be included in your plan.
Business Name, address, and phone number, principals and the date
The Executive Summary is essentially an overview of your company, your uniqueness in the marketplace, and a brief description of the services or products to be sold. You will also include an overview of your financial projections, including your expected revenues, profits, and expenses for the next three years. If you are seeking funding, you should outline this briefly as well, describing the exact amount of money you seek and how it will be used.
TABLE OF CONTENTS
DESCRIPTION OF THE BUSINESS
Describe your company, including where you intend to operate, and what type of legal entity you are (sole proprietorship, limited liability corporation, etc.) Describe the service or product you are offering. What is unique about your product or service, and why do your customers need you to offer it? This section describes the industry or market that you are entering and how you plan to bring your product or service to your customers. What size is your market, in terms of population and in terms of potential sales? You should have a solid argument about how your product or service will be a welcome addition to the market, meeting a currently unmet need. Talk about your target customers, describing their demographics and their potential to buy your product or service, Include information about your competitors, both direct and indirect. Then describe how you plan to price your product or service, reach your customers, expand your services, and promote your business.
SERVICE OR PRODUCT DESCRIPTION
Include a description of the key people involved in the business, their roles in the company, and their background and suitability for contributing to this venture. You may include resumes in the appendix of your business plan. If your business is just you, that’s fine. Give yourself a title and write a brief bio highlighting your relevant experience that has prepared you for your current business idea.
OBJECTIVES AND GOALS
Sales forecasts as well as production, service, quality assurance, and financial plans should be discussed. Other items of interest to potential investors include pricing and anticipated profits, advertising and promotion strategies and budgets, a description of how the product will be distributed and sold, and which categories of customers you will want to reach first.
The financial picture has a couple of different components. You should give an overview of the financial viability of your business through financial projections (projected revenue, expenses, profits). As well as funding or investment strategies. The financial information you include doesn’t have to be extensively detailed in a basic business plan, but they should include a good indication of the potential financial wellbeing of this venture.
Depending on your business and the level of detail in your business plan, you may want to include additional materials to support your plan.
A minimum of 4, and they can’te all websites. All citations in the paper must appear in the reference list, and all references (minimum of 4) must be cited in the text of the paper. Choose references judiciously and cite them accurately. To use the ideas or words of another without crediting the source is plagiarism. Plagiarism in its purest form involves copying of entire passages either verbatim or nearly verbatim, with no direct acknowledgment of the source. The most common (and unconscious) form of plagiarism is when a direct quotation is simply paraphrased. The best way to avoid plagiarism is to make sure all quotes, ideas, or conclusions not your own are given proper acknowledgment in your text. Cite your reference and then discuss what it means in your own words. All references must be in APA Format. If you use Word; go to the tool bar at the top of your screen and click on references, it will allow you to select APA Format guidelines to assist you.
Your sections will vary in size. You are not graded on how much is in each section. What you are graded on, is labeling each section as specified below and making sure that your paper is the full 8-10 pages that includes everything below. Type the paper in 12 font.
The school library is another great resource. Jill Campbell has worked with my classes for years, but any of the staff can assist you with research options, etc.
SCREEN SHOTS: May be used, but the page cannot be counted in your overall length requirement if it takes an entire page. You can display them for ½ page with explanation and content of your paper. In other words, a screen shot on ½ page that is included with content may count as one page for your research paper. This doesn’t apply to your financial section of the paper. You may in that section have entire pages of information but once again use good judgment. I don’t want a bunch of financial data and you neglect to cover all the other required sections of the assignment.
|Documentation & Formatting||20||20||A quality paper will include 8-10 pages to include a cover sheet, table of contents, body of paper or research section, and reference page. All citations will be documented in the body or research section and resources listed in APA format on the reference page.|
|Organization & Cohesiveness||10||10||A quality paper will include all sections labeled as specified in the “Required Format” section of the instructions. The content will be complete and screen shot illustrations included.|
|Editing||10||10||A quality paper will be free of any spelling, punctuation, or grammatical errors. Sentences and paragraphs will be clear, concise, and factually correct.|
|Content||160||160||A quality paper will have significant scope and depth of research to support any statements and demonstrate the students understanding of course concepts. Relevant illustration or examples are encouraged.|
|Total||200||200||A quality paper will meet or exceed all the above requirements.|
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