NUTS AND BOLTS OF GREAT BUSINESS PLANS-2016.pdf

You are looking at the entire industry in the us or

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attractiveness of, the industry as a whole. You are looking at the entire industry in the U.S. or globally. As such, this section does not involve any description of your company or your local market. This section needs to include the following information: Summarize the industry in which the proposed business will operate. Give the relevant SIC / NAICS code for the industry. How is the industry constructed/segmented? Discuss briefly industry size (in dollars) and annual growth rate (%); Where is the industry in its life cycle-- -emerging, early growth, rapid growth, early maturity, maturity, decline? Discuss the structure of the industry at present. How concentrated or fragmented is the industry? How many players are there, and how many are large versus small? Who are the largest and most important players in the industry? Outline Porter’s 5 forces and draw conclusions. Provide a diagram of the value added chain to illustrate the key players in the industry. Highlight key trends in the industry. These can be found in the trade literature. Are costs going down or up? What about prices? Discuss any new products or developments, the rate of new product development, new markets and customers, new selling approaches, new pricing methods, new requirements or regulations, new entrants and exits, new technologies, and any other national or economic trends and factors that could affect the venture’s business positively or negatively. Determine the key success factors for the industry and draw conclusions. What are the winners able to do consistently that the losers or also-rans to not do? Find standard financial ratios for the industry and summarize key ones. SECTION II: THE COMPANY, CONCEPT, AND PRODUCT(S) OR SERVICE(S) Now the focus turns to your own venture. First outline the nature of the entity you plan to create and where you are in that process, then capture the essence of your business concept and explain that concept, then detail the products and services you anticipate selling, and then talk about your entry approach and your vision for growth over the next five years. A. The Company and the Concept What form will the company take (e.g., partnership, S-corporation, LLC, etc.), where will it be based, and when will it commence operations? Briefly summarize the company history, how the concept was discovered, as well as the current status of the company. Spell out the mission and main objectives of the company: Describe specifically the concept behind the business (i.e. your unique value proposition …the c ore benefits you will provide to a user, the need or pain you will address) B. The Product(s) or Service(s) Mix Describe each product or service you will be selling (what it is and isn’t – describe the product fully and provide pictures or a brochure in the appendix if you can). Begin to sell your idea here by generating some excitement about your product or service.
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IMAGINE > BELIEVE > CREATE 10 Discuss the application (what it does) of the product or service and describe the primary end use as well as any significant secondary applications (who will use it and why).
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