-Need it by Thursday at 8 am in Pacific Time Zone
You will be completing a short business plan for a real tech start up. The business can be no older that 4 years old. You will need to use resources online to find an actual Technology Start-up. You will then complete s short business plan of up to 4 pages (no cover page) with the first page being the Executive Summary (not to exceed 1 page) and the Analysis (minimum of two pages but not to exceed three pages). Remember, as I stated in class, you are representing the company and are presenting this plan to me order to obtain capital to fund business. Part of your grade will be based on how well you “sell” this product to me and convince me that I should invest. The company does not have to be a pure tech company, but the company does have to have a significant tech element.
The guidelines are as follow.
Page 1: Executive Summary
The executive summary is often considered the most important section of a business plan. This section briefly tells your reader where your company is, where you want to take it, and why your business idea will be successful.
The executive summary should highlight the strengths of your overall plan and therefore be the last section you write. However, it usually appears first in your business plan document.
What to Include in Your Executive Summary
Below are several key points that your executive summary
The Mission Statement – This explains what your business is all about. It should be between several sentences and a paragraph.
Company Information – Include a short statement that covers when your business was formed, the names of the founders and their roles, your number of employees, and your business location(s).
Growth Highlights – Include examples of company growth, such as financial or market highlights (for example, “XYZ Firm increased profit margins and market share year-over-year since its foundation). Graphs and charts can be helpful in this section.
Your Products/Services — Briefly describe the products or services you provide.
Summarize future plans – Explain where you would like to take your business.
With the exception of the mission statement, all of the information in the executive summary should be covered in a concise fashion and kept to one page.
Pages 2-4: Company Structure
The market analysis section of your business plan should illustrate your industry and market knowledge as well as any of your research findings and conclusions.
What to Include in Your Market Analysis
Market need and solution – What is the critical need(s) of your target market? Are these needs currently being met? Why or why not?
Information About Your Target Market – What are the demographics of your target market and what is the size of this demographics? Where are they located? What are some major assumptions of this market. Why is this target market attractive?
Industry Description and Outlook – Describe your industry, including its current size and historic growth rate as well as other trends and characteristics (e.g., life cycle stage, projected growth rate). Next, list the major customer groups within your industry.
Distinguishing characteristics – Why is your company uniquely posited to serve this market? Why will customers choose you rather than your competitors? Why will they choose you rather than a substitute? What will motivate your customers to buy now?
Market challenges and threats – What are challenges to servicing this market or in your product or service? Are there any seasonal or cyclical purchasing trends that may impact your business? Are there any regulatory issues? Are there any issues with intellectual property, government regulation, internet capabilities, etc.?
Other Players – Who is currently meeting this need? Who else is currently serving this target market? Who would likely attempt to copy your company is it is successful?