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Business Project1

Business Project1 - the first year that you will be...

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Business Project Executive Summary o Make it short and sweet, 250 words max.. talk about idea, financing, operations, think of the elevator pitch during this Product/ Service Overview o Description: talk about competitive advantage, why is it unique o Primary target market: include key demographics of target market, answer why they would be interested…be VERY SPECIFIC with this o Brief marketing strategy How will you reach your market? Include specific plans/methods (i.e Radio, TV, Cornell Daily Sun) Include reasons why these methods are being used and the marketing costs….reasonable assumptions for this o THIS IS WORTH THE MOST POINTS Competitive Positioning o Talk about placement within the competitive landscape o Key differenetials from other products Financial Discussion o Discuss specifics Revenue model (cash inflows, outflows) Discuss rationale for pricing scheme Based on competition, etc. o Talk about expenses vs. revenue…is this model sustainable long term? o Have some idea of how big the market is and it would be nice to go past
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Unformatted text preview: the first year that you will be working…will prob lose money the first year • Operational details o Discuss start up costs, management teams, division of duties, o How will the business raise capital? o How much capital needs to be raised? o SWOT analysis (strengths, weaknesses are both internal then opportunities and threats are external…use box format) o Discuss internal/external factors that can affect business o Market growing very rapidly is something that is an external factor for example • Extra Credit o Mock up of product- draw product, make a model, price list o Survey- conduct surveys with target market to establish demand ( www.surveymonkey.com ) o Marketing Strategy 4P’s: product, price, place, promotion o Pro-forma financials Income statements (take into account start up costs, YOU WILL NOT MAKE MONEY RIGHT AWAY) Balance sheets Cash flows...
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Business Project1 - the first year that you will be...

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