NUTS AND BOLTS OF GREAT BUSINESS PLANS-2016.pdf

Develop a brief concept statement for the product or

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Develop a brief concept statement for the product or service that can be shown to potential customers. How will the product be used? What are some unique features? What existing problem(s) will you solve with your service or product offering? What are the primary benefits to customers? How does your solution improve or replace current offerings? Competitive Advantage: What special knowledge or technology do you possess and how will you protect it? What are the barriers to entry? Who will the competitors be? How will your service or product compare to those of your competitors in terms of usefulness, cost, styling, ergonomics, time-to-market, strategic alliances, technological innovations, compatibility with related product, etc? Description of the Target Market: Briefly define your relevant market. What is the current size and expected growth of your target market? What segments will you be targeting? Who will your first customer(s) be? What proof can you offer that your target customers will value your product or service?
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IMAGINE > BELIEVE > CREATE 8 Essence of Marketing Approach What do you need to do very well in order to win this market? Indicate the key marketing methods used to accomplish sales Summarize your pricing position relative to the rest of the industry Summary the distribution channel approach Technology and Operational Issues: What technology will you employ? Where are you in terms of R&D on the products/services? Will production be handled by you or outsourced? What is unique about your approach to production or operations? The Team: Who are you and why can you do this? Briefly summarize your team’s qualifications. Economics: What are the firm’s margins and volumes? Is the cost structure more fixed or variable? Make clear the model for making money. Financial Highlights: When will breakeven be achieved? What is the level of potential sales of your product or service? What level of profits do you expect to achieve? Financial Need: How much money are you requesting? From what sources are you looking for money and in exchange for what (e.g., how much equity)? What the rate of return investors will receive and when will they receive their return?
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IMAGINE > BELIEVE > CREATE 9 GENERAL NOTE: From here onwards, we cover everything that could go into each section of the plan in a perfect world. As the sections are written to describe any and all types of ventures, some issues may not fit your plan, and others may be more complex given the data and resources you have at hand. Nonetheless, do your best to address all the issues that apply. SECTION I: THE INDUSTRY The “industry” refers to the larger landscape, as in the “c omputer hardware wholesale industry” or the “card and gift retail industry” or the “architectural services industry”. The focus here is on what is happening in , and the relative attractiveness of, the industry as a whole. You are looking at the entire industry in the U.S. or globally.
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  • Spring '17
  • Yongseok Jang
  • Marketing, The Market

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