There is no successful business without a plan or strategy, whether a small, medium or large size organization. A business plan is important because it summarizes the entrepreneurâ€™s vision for the startâ€up business. No one is in a better position than you to write your business plan, to articulate the vision, mission, and strategy of your startâ€up. Regardless of the business size, entrepreneurs need a business plan to guide the achievement of the goals of the startâ€up. Although there is no hardâ€andâ€fast format for a business plan, your business plan must include the following components:
-Keys to success
-Company location and facility
-Product or service description
-Use of technology
-Future services or products
-Market analysis summary
-Marketing strategy: pricing, promotion (social media/mobile technology), distribution
-Service or product support
-Financial Plan: projected profit and loss statement, balance sheet, cash flows, business ratios and benchmarks
Select a startâ€up business. Name it anything you want, but please choose something plausible. Use the list of components above to structure a business plan to be delivered to a group of bankers or investors. Describe your startâ€up using the content above, and address each point.
The business plan is the single most significant factor in determining whether investors or bankers will be interested in your business. Be creative. Incorporate course material into your plan. Use tables, charts or graphs to help illustrate your points. Feel free to ask your instructor for clarification on any of the requirements of this Portfolio Project.
Your paper should be submitted in the form of a Word document, 8â€10 pages in length, well written, in conformity with APA style. Include a minimum of five credible references, in addition to the textbook. If it is applicable, you may wish to display financial calculations in an Excel spreadsheet. This may also be done in a table in Word.