Final S1-13 101-BP - BUS 101 Group Business Plan Worksheet...

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BUS 101 Group Business Plan Worksheet This worksheet will help guide you through the process to develop a solid business Plan. Answer in detail! Use more paper as needed. Company Name: ________________________________________ Team Members: ________________________________________ ________________________________________ ________________________________________ ________________________________________ Suggestions for a Good Grade on the Project : Type out answers as you work in group. You can paste it together later and you will notice “gaps” in material that must be filled. Document sources as you work on reference sheet Document dollar costs as you go along. Break-down costs Week One: Product Development 1. What is your product or service? 2. To see if the product already exists, conduct general searches using a good search engine. To see if there is a “patent pending”, search the database on the US Patent and Trademark Office 3. Detail the process that the customer must follow to use your product (Ex. iPod Customers download iTunes onto their computers, connect the iPod to register it and update software, purchase tunes from the iTunes Store using a credit card and download the tunes). Include any drawings to clarify 4. What are specific features that make your product/service unique? How is it superior to existing products? 5. What industry (i.e., electronics, restaurant, clothing) will your business be in? To find your industry, look up the North American Classification (NAICS) and enter “keywords. .. 1
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Potential Customers 6. Write up a customer “profile” of your customers. What are their characteristics? (age, SES, education, income, etc.). Use the US Census online to determine how many people in the population would fit your profile. Week 2 and 3: External Influences 1. Conduct an “environmental scan” of your product. What trends or events in the future could impact your product or service sales? (ex. Jitterbug cell phone sales will grow since the population is aging). Give specifics of these trends whenever possible (ex. # of target customers in five years, etc.). 2. Is your product or service dependent upon any other product to work? (ex. luxury auto sales may rely on economic upswings, a delivery service may be impacted by gas prices). 3. Using your NAIS code, determine your competitors. Remember to find “less known” companies. A small competitor now can be a big one later! (Ex. AMD and Intel). Conduct an internet search to find companies. 4. Where may you be “vulnerable” to the competition (ex. speed production,, price, marketing).? How can you meet these challenges? What is your “window of opportunity” before competitors become involved? Week 4: Global Business 1. Use the internet to conduct a brief environmental scan of world events. Sources that review international business affairs include The Economist and The New York Time s . How could world events impact your business? How could you meet these challenges?
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