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Your Team Name Here BUSI 100 Introduction to Business Fall 2010 Professor Julie Hall

Your Team Name Here BUSI 100 Introduction to Business Fall 2010 Professor Julie Hall. Your Team Members’ Names Here. I. Business Description. Briefly describe the type of business you plan to start Mission Statement. II. Organizational Plan. Team Members/Owners of Business

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Your Team Name Here BUSI 100 Introduction to Business Fall 2010 Professor Julie Hall

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  1. Your Team Name HereBUSI 100 Introduction to BusinessFall 2010Professor Julie Hall Your Team Members’ Names Here

  2. I. Business Description • Briefly describe the type of business you plan to start • Mission Statement

  3. II. Organizational Plan • Team Members/Owners of Business • Briefly describe the management team’s experience. • Briefly describe each member of the management team’s duties and responsibilities. • Briefly describe what employees if any you plan to hire and what their job description will be. • State what legal form of organization the business will be set up as (e.g. Sole Proprietor, Partnership, Corporation, Limited Liability Company):

  4. III. Customer Analysis • Target Market(s) • Briefly describe your primary target market. • Briefly describe what products or services you plan to offer to the primary target market. • Briefly describe any secondary target markets. • Briefly describe what products or services you plan to offer to the secondary target market. • What are the needs of each target market?

  5. IV. Competitor Analysis • Who? Where? How many? • What needs don’t they satisfy? • Briefly describe who your competitors are and how you plan to differentiate your product or service from the competition (e.g. better price, better service, better quality, better features, etc.). What exactly is your competitive advantage?

  6. V. Customer Service Strategy • How will you continue to satisfy and service your customers better than your competitors? Customer Relationship Management (CRM) • What customer services goals will you have?

  7. VI. Product or Service Description • Briefly describe the products or services you plan to offer: • How will products meet customer needs better than the competition? • What is your competitive advantage or unique value proposition?

  8. VII. Place/Location • Briefly describe where you plan to operate the business (i.e. out of the home, retail storefront, warehouse, online, etc.): • Briefly describe what channels of distribution you plan to use (e.g. will you sell directly to the customer as a retailer, operate as a wholesaler, etc.):

  9. VIII. Price • Briefly describe how customers will pay you for your product or service (i.e. cash, credit card, invoice, PayPal, etc.): • Customer, Competitor, and Cost Analysis • (May use a chart to compare prices here) • Positioning with the Competition

  10. VIII.a Price (Continued) Customer, Competitor, and Cost Analysis Briefly describe how customers will pay you for your product or service (i.e. cash, credit card, invoice, etc.):$ Positioning with the Competition- Are you higher/lower? In line in pricing? Unique Value?

  11. IX. Promotion • Briefly describe what types of advertising you plan to use-social media tools (FaceBook, Twitter) print media, online/e-marketing, radio, television, billboards, other • Why will it reach the target market? • Personal Selling strategies, if any • Sales Promotion- Start-up plan? • Public Relations/Publicity- How will people know about your business? • Briefly describe what if any personal selling efforts you plan to conduct (e.g. networking through chambers of commerce, business groups, civic groups, etc.): • Briefly describe how you will try to obtain publicity for your company (e.g. sending out press releases to the media):

  12. X. Financial Plan/Budget- Decide What Figures you will Gather • Startup Expenses withProjected Income Statement- Revenues and Expenses (Required) • Examples: • Balance Sheet, Cash Flow Statement • Break-even Analysis • Types of financing- Loans, Equity Partners, Angel Investors, Venture Capitalist, Rich Grandmother, etc.

  13. X.a Financial Planning- Income Statement Revenue/Sales Projections Start-Up Expenses • Purchase of Property • Lease Space • Lease Deposit • Equipment • Inventory • Fixtures • Tenant Improvements • Utility Deposits • Insurance Deposits • Deposit for Seller’s Permit • Telephone Installation • Business License • Fictitious Name Statement • Health Department Permit • Business Cards • Stationery • Grand Opening Promotions • Signage • Salaries • Other - • Other - • Other - • Total _______________ Place in a chart? Place in a chart?

  14. XI. Closing- Be Creative Closing- Be Creative • Investment Proposal • Why should I invest in this business? • Can I sell my business idea and why?

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