The Business Planning Process

[INSTRUCTIONS: 250 words each question with one reference each question] Discuss the major elements of business planning, and how those relate to the elements of a solid Business Plan.  Q1) What steps should be taken regarding identification and development of each element?  Q2) What other matters not strictly related to the Business Plan might affect the business (e.g. political, economic, or even family and other relationship situations)?  Q3) How would those best be taken into consideration?     PAPER DUE on Thru 09-10-2020 Wk 3 – Business Pitch [due Mon] Assignment Content 1.        Resource: Business Pitch Grading Guide Create a business pitch for your business plan in a 20- to 25-slide Microsoft® PowerPoint® presentation that addresses the following: o    Company o    Headline o    Problem Worth Solving o    Our Solution o    Target Market o    Competitive Landscape o    Funding Needs o    Sales Channels o    Marketing Activities o    Forecast o    Milestones o    Team and Key Roles o    Partners and Resources Submit your assignment. Resources     HINTS/General guidance: Put the company name/logo on every slide.   What is the Company’s mission and vision?   Headline & Problem Worth Solving: You may combine these. The Problem Worth Solving is the problem you will solve for your clients/community. Make it dramatic/attention grabbing if possible. Are there any safety concerns to the current situation? Use news stories from the past year if possible. Start with some impressive information about the need. Make it dramatic/attention grabbing if possible. Something to attract the attention based on your audience. Can you put it in terms of an overlooked/underserved market? Are you trying to solve a problem in your company?   Our Solution: describe your solution to the above Problem Worth Solving.   For Target market, include geography & demography. Are you targeting a local area or the world? How big is your market? How many potential customers? Demographic traits? Disposable income? individuals? companies? resellers? wholesale? retail? millennials? environmental activists? Families? after hours? teens? collage? etc.   In Competitive landscape, identify your competition by name. State their strengths and weaknesses. And then you can say how you are different/better.   For funding needs: Include a detailed funding forecast and cash flow prediction (include estimated amounts). How much to you need to start? when? what are your operating expenses? what is your anticipated income per day/month? explore the following links: https://articles.bplans.com/how-to-forecast-cash-flow/  https://s3.amazonaws.com/mentoring.redesign/s3fs-public/S4-Financial-Projections-Spreadsheet-Feb2019Rev1.xlsx https://www.score.org/resource/financial-projections-template   For Sales Channels: describe how you deliver your product/solution to your clients. For marketing activities: How will your clients learn about you? Always consider Traditional and Social Media as part of your Marketing push.   Forecast & Milestones and be combined: Treat this as a project plan and tie the activities to your funding forecast.   Team and Key Roles: be ready to name your team and tell what they bring that will help the company succeed, if you have not identified the person, describe the skills needed as part of job functions   Partners and Resources: Name the key people and organizations that can help you succeed.    Remember that your slides need to be simple, consistent, readable by anyone, supported and explained in the speakers’ notes. Images need to be ADA compliant and have alternate text.   ·         3.13.1 Distinguish between planning and plans. Goal Set & CategoryENT_527Course Objective Show Less ·         3.23.2 Examine the essential parts of a Business Plan. Goal Set & CategoryENT_527Course Objective Show Less ·         3 Qs DUE on Thru 09-10-2020 [INSTRUCTIONS: 250 words each question with one reference each question] Discuss the major elements of business planning, and how those relate to the elements of a solid Business Plan.  Q1) What steps should be taken regarding identification and development of each element?  Q2) What other matters not strictly related to the Business Plan might affect the business (e.g. political, economic, or even family and other relationship situations)?  Q3) How would those best be taken into consideration?     PAPER DUE on Thru 09-10-2020 Wk 3 – Business Pitch [due Mon] Assignment Content 1.        Resource: Business Pitch Grading Guide Create a business pitch for your business plan in a 20- to 25-slide Microsoft® PowerPoint® presentation that addresses the following: o    Company o    Headline o    Problem Worth Solving o    Our Solution o    Target Market o    Competitive Landscape o    Funding Needs o    Sales Channels o    Marketing Activities o    Forecast o    Milestones o    Team and Key Roles o    Partners and Resources Submit your assignment. Resources     HINTS/General guidance: Put the company name/logo on every slide.   What is the Company’s mission and vision?   Headline & Problem Worth Solving: You may combine these. The Problem Worth Solving is the problem you will solve for your clients/community. Make it dramatic/attention grabbing if possible. Are there any safety concerns to the current situation? Use news stories from the past year if possible. Start with some impressive information about the need. Make it dramatic/attention grabbing if possible. Something to attract the attention based on your audience. Can you put it in terms of an overlooked/underserved market? Are you trying to solve a problem in your company?   Our Solution: describe your solution to the above Problem Worth Solving.   For Target market, include geography & demography. Are you targeting a local area or the world? How big is your market? How many potential customers? Demographic traits? Disposable income? individuals? companies? resellers? wholesale? retail? millennials? environmental activists? Families? after hours? teens? collage? etc.   In Competitive landscape, identify your competition by name. State their strengths and weaknesses. And then you can say how you are different/better.   For funding needs: Include a detailed funding forecast and cash flow prediction (include estimated amounts). How much to you need to start? when? what are your operating expenses? what is your anticipated income per day/month? explore the following links: https://articles.bplans.com/how-to-forecast-cash-flow/  https://s3.amazonaws.com/mentoring.redesign/s3fs-public/S4-Financial-Projections-Spreadsheet-Feb2019Rev1.xlsx https://www.score.org/resource/financial-projections-template   For Sales Channels: describe how you deliver your product/solution to your clients. For marketing activities: How will your clients learn about you? Always consider Traditional and Social Media as part of your Marketing push.   Forecast & Milestones and be combined: Treat this as a project plan and tie the activities to your funding forecast.   Team and Key Roles: be ready to name your team and tell what they bring that will help the company succeed, if you have not identified the person, describe the skills needed as part of job functions   Partners and Resources: Name the key people and organizations that can help you succeed.    Remember that your slides need to be simple, consistent, readable by anyone, supported and explained in the speakers’ notes. Images need to be ADA compliant and have alternate text.   ·         3.13.1 Distinguish between planning and plans. Goal Set & CategoryENT_527Course Objective Show Less ·         3.23.2 Examine the essential parts of a Business Plan. Goal Set & CategoryENT_527Course Objective Show Less ·         3.33.3 Discuss financial requirements of a Business Plan. Goal Set & CategoryENT_527Course Objective       3.33.3 Discuss financial requirements of a Business Plan. Goal Set & CategoryENT_527Course Objective