The business plan: sets out the basic idea about the business and the start-up considerations
Primary functions of the business plan:
1. Statement of goals and strategies for internal use (firms management, employees)
2. Selling document to be s
Worksheet Markup and Margin (A)
Markup % = Selling Price Variable Costs x 100
Margin % = Selling Price Variable Costs x 100
1. A computer software retailer uses a markup rate of 40%. If the retailer pays $25 each for
9 Deadly Sins Ch. 1
I know what the customer wants.
I know what features to build.
We need to launch on this day!
Lets execute. Forget Hypothesis testing.
Do we need a business plan or trials?
We need to define the hierarchy.
CHAPTER 1 - ENTREPRENEURS
Create value for customers with products and services to attract them
Entrepreneurial opportunity: an economically attractive and timely opportunity that creates value
Entrepreneurship and small bu
Case Study-Part 1
1. Perform an External Environmental Analysis (other than a competitive analysis) that
clearly defines the opportunity. (5 marks)
The PESTEL analysis is the best way to analyse the external environment for a
business and its opportunity.
ENT- CHAPTER 2
First step: Reasons for starting up a new business:
1. Based on a newly developed idea or product or service
2. Take advantage of ideal location, bankers, suppliers, products/services
3. Avoid undesirable policies, procedures, law agreement
Weekly Sales (# lunches)
# weeks per month
Ovens & Range Hoods
Franchising: marketing system revolving around a 2 party agreement where the franchisee is given rights
to conduct business according to the terms specified by the franchisor.
Franchisee: who buys the franchise
Franchisor: specifies methods to
Promo mix: blend of selling, advertising and promotion tools aimed at the target market.
1. Geographic factors- larger audiences are targeted by mass marketing and small audiences prefer
2. Customer characteristics:
Small business marketing: business activities that identify a target market, determine the potential,
prepare and deliver satisfaction to the market
Market analysis: evaluation process including market research, segmentation and forecasting
Sole proprietorship: business owned and operated by only one person
Unlimited liability: personal assets can be taken if the business fails
Partnership: two or more people co own a business for profit
Partnership agreement: states rights and du
Course: ENT 500 New Venture Start Up
Professor: Brad Poulos
Case 1 Assignment: Twin Peaks Building Supplies
Student Name: Mok Adrienne Ho Yee
Student Number: 500 647 645
Date: 22nd October, 2016
The Major Problem Confronting Twin Peaks Building Supplies