The Business Plan Assessment
Business Plan submission Date:
January 14th, 2014
50% - Group assessed (Business Plan)
20% - Project Management (Diary)
30% - Presentation (Marketing Plan): 17th and 19th December
The Business Plans should be no more than 30, A4 pages in length - including appendices.
1. ASSESSMENT SCENARIO
For this module, you and your team are required to develop an idea, which you will present as a business plan for assessment.
You may choose an idea based on past work experience or current employment or otherwise, you may choose an innovative idea for which you see an opportunity and a suitable business model.
In either case, you will research all the related areas of market needs, the feasibility of the project, the sources of finance and the business model.
2. YOUR TASK
Most new businesses flounder due to a shortage of money. Whether it is for capital investment or cash flow purposes it remains the number one problem facing fledgling entrepreneurs. This reflects directly the level of research, both primary and secondary, in the sourcing methodology and analysis of the researched data that has been undertaken. This would have a direct influence on your ability to forecast the data you will use in your capital investment strategy and in your cash flow projections.
The combined personal finance you are prepared to invest in the business suggests an outside investor is necessary. Any outside investor prepared to take the risk in loaning you money needs to be convinced that the business has a good chance of being successful and they have a more than average chance of recovering their money with interest. You must research the generally accepted lending criteria of investors in small business start-up’s.
3. OBJECTIVES OF THE BUSINESS PLAN
To persuade outside investors to invest E30,000 to match your own E30,000 to launch your business. These amounts are minimum amounts. Investment finance from both parties can be more, but not less than E60,000
To identify Key Performance Indicators (KPI’s) that will monitor the current health and progress of the company, giving assurances and also early warning of any potential dangers that may affect the business.
To achieve these objectives successfully you will need to:
a) Show that the lender or investor stands a good chance of being paid back, with interest, the finance capital that has been advanced to the business.
b) Instill confidence about your abilities to manage your business and, if applicable, indicate that you have the beginnings of an efficient management team.
c) Demonstrate that there is good market potential for your product or service.
4.1 In a group of three/five people you are to submit a detailed business plan of not more than 30 pages, including any necessary appendices, of A-4 size sheets of paper, using 12 font characters. Use the vision, knowledge and skills gained from other subjects you have studied. Identify the short-comings of your experience of managing your own business and what you are prepared to do to rectify this problem associated with the industry/service of your choice.
4.2 Demonstrate your ability to compete in your chosen business sector with a structured analysis of the competition and identify your Unique Selling Point (USP)
4.3 Marks will be awarded for the quality of your presentation and the written work together with the depth and breadth of analysis evaluation and conclusions of your business idea, which will have made allowances for any particular problems you expect to face in becoming part of your chosen industry. Special consideration will be given to the source of your information and the appropriate acknowledgements.
5. AWARDING OF MARKS FOR THE BUSINESS PLAN
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