{"id":37,"date":"2021-06-21T15:39:24","date_gmt":"2021-06-21T19:39:24","guid":{"rendered":"https:\/\/pressbooks.library.upei.ca\/businessstartupandentrepreneurshipcanadaworkbook\/chapter\/__unknown__\/"},"modified":"2021-06-21T16:00:28","modified_gmt":"2021-06-21T20:00:28","slug":"__unknown__","status":"publish","type":"chapter","link":"https:\/\/pressbooks.library.upei.ca\/businessstartupandentrepreneurshipcanadaworkbook\/chapter\/__unknown__\/","title":{"raw":"Business Plan Summary Outline (Printable)","rendered":"Business Plan Summary Outline (Printable)"},"content":{"raw":"<div class=\"__UNKNOWN__\">\r\n<h1 style=\"text-align: center\">BUSINESS PLAN<\/h1>\r\n<h2 class=\"import-Normal\"><strong><a id=\"Business Details\"><\/a>BUSINESS DETAILS<\/strong><\/h2>\r\n<ul>\r\n \t<li class=\"import-Normal\">What kind of entrepreneur are you? <em>Innovator? Lifestyle? Income-replacement<\/em><\/li>\r\n \t<li class=\"import-Normal\">What kind of business are you?<\/li>\r\n \t<li class=\"import-Normal\"><em>Disruptive Innovation? New-to-the-world Industries? Incremental Product\/Service? Innovation? Copy-cat? Market Development Market Paradigm Shift?<\/em><\/li>\r\n \t<li class=\"import-Normal\"><em>Sole Proprietorship? Partnership? Corporation? S-Corporation? Non-Profit? <\/em><\/li>\r\n \t<li class=\"import-Normal\">Is your business part-time or full-time work?<\/li>\r\n \t<li class=\"import-Normal\">Why do you want to start this business?<\/li>\r\n \t<li class=\"import-Normal\">Have you not added your entrepreneurial characteristics quizzes to talk about\/discuss yourself in the business details? Remember <strong>YOU<\/strong> are your business, and the business identity is shaped in <strong>YOUR<\/strong> vision.<\/li>\r\n<\/ul>\r\n<h2 class=\"import-Normal\"><strong><a id=\"Industry and Market Analysis\"><\/a>INDUSTRY AND MARKET ANALYSIS<\/strong><\/h2>\r\n<ul>\r\n \t<li class=\"import-Normal\">Market\/Industry Lifecycle: <em>New Market? Emerging? Growing? Mature? Declining? <\/em><\/li>\r\n \t<li class=\"import-Normal\">Market\/Industry Concentration: <em>Fragmented? Consolidated?<\/em><\/li>\r\n \t<li class=\"import-Normal\">Market\/Industry Geographic Extent: <em>Local, <\/em><em>regional<\/em><em> or national? Global?<\/em><\/li>\r\n \t<li class=\"import-Normal\">Competitors: <em>Direct? Indirect? Future Competitors?<\/em><\/li>\r\n \t<li class=\"import-Normal\">Market Size: <em>Potential Market? Total Available Market? Served Available Market? Penetrated Market? <\/em><\/li>\r\n \t<li class=\"import-Normal\">Market Analysis Techniques\/Tools:<\/li>\r\n<\/ul>\r\n<h3 class=\"import-Normal\">PESTEL Analysis<\/h3>\r\n<table class=\"aligncenter\" style=\"height: 385px\">\r\n<tbody>\r\n<tr class=\"TableGrid-R\" style=\"height: 59px\">\r\n<td class=\"TableGrid-C\" style=\"background-color: #244061;color: #ffffff;vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 9.21875px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\">P<\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 96.1875px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\">Political<\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 1230.75px\">\r\n<p class=\"import-Normal\" style=\"text-align: left\"><em>Political factors include elements such as tax policies, changes in trade restrictions and tariffs, and the stability of governments.<\/em><\/p>\r\n<p class=\"import-Normal\"><\/p>\r\n<\/td>\r\n<\/tr>\r\n<tr class=\"TableGrid-R\" style=\"height: 75px\">\r\n<td class=\"TableGrid-C\" style=\"background-color: #244061;color: #ffffff;vertical-align: middle;border: 0.5pt solid windowtext;height: 75px;width: 9.21875px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\">E<\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 75px;width: 96.1875px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\">Economic<\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 75px;width: 1230.75px\">\r\n<p class=\"import-Normal\"><em>Economic factors include elements such as interest rates, inflation rates, gross domestic product, unemployment rates, levels of disposable income, and the general growth or decline of the economy.<\/em><\/p>\r\n<p class=\"import-Normal\"><\/p>\r\n<\/td>\r\n<\/tr>\r\n<tr class=\"TableGrid-R\" style=\"height: 59px\">\r\n<td class=\"TableGrid-C\" style=\"background-color: #244061;color: #ffffff;vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 9.21875px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\">S<\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 96.1875px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\">Social<\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 1230.75px\">\r\n<p class=\"import-Normal\"><em>Social factors include trends in demographics such as population size, age, and ethnic mix, as well as cultural trends such as attitudes toward obesity and consumer activism. <\/em><\/p>\r\n<p class=\"import-Normal\"><\/p>\r\n<\/td>\r\n<\/tr>\r\n<tr class=\"TableGrid-R\" style=\"height: 59px\">\r\n<td class=\"TableGrid-C\" style=\"background-color: #244061;color: #ffffff;vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 9.21875px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\">T<\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 96.1875px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\">Technological<\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 1230.75px\">\r\n<p class=\"import-Normal\"><em>Technological factors include, for example, changes in the rate of new product development, increase in automation, and advancements in service industry delivery. <\/em><\/p>\r\n<p class=\"import-Normal\"><\/p>\r\n<\/td>\r\n<\/tr>\r\n<tr class=\"TableGrid-R\" style=\"height: 59px\">\r\n<td class=\"TableGrid-C\" style=\"background-color: #244061;color: #ffffff;vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 9.21875px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\">E<\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 96.1875px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\">Environmental<\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 1230.75px\">\r\n<p class=\"import-Normal\"><em>Environmental factors include, for example, natural disasters, and weather patterns. <\/em><\/p>\r\n<p class=\"import-Normal\"><\/p>\r\n<\/td>\r\n<\/tr>\r\n<tr class=\"TableGrid-R\" style=\"height: 59px\">\r\n<td class=\"TableGrid-C\" style=\"background-color: #244061;color: #ffffff;vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 9.21875px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\">L<\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 96.1875px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\">Legal<\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 1230.75px\">\r\n<p class=\"import-Normal\"><em>Legal factors include laws involving issues such as employment, health, and safety, discrimination, and antitrust. <\/em><\/p>\r\n<p class=\"import-Normal\"><\/p>\r\n<\/td>\r\n<\/tr>\r\n<tr style=\"height: 15px\">\r\n<td style=\"height: 15px;width: 9.71875px\"><\/td>\r\n<td style=\"height: 15px;width: 97.1875px\"><\/td>\r\n<td style=\"height: 15px;width: 1231.25px\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<h3 class=\"import-Normal\">SWOT Analysis<\/h3>\r\n<table style=\"width: 743px\">\r\n<tbody>\r\n<tr class=\"TableGrid-R\">\r\n<td class=\"TableGrid-C\" style=\"border-width: 0pt 0.5pt 0.5pt 0pt;border-style: none solid solid none;border-color: windowtext;width: 119.094px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #244061;color: #ffffff;border: 0.5pt solid windowtext;width: 97.8438px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\">Strengths<\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #632423;color: #ffffff;border: 0.5pt solid windowtext;width: 92.3594px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\"><span lang=\"en-US\" xml:lang=\"en-US\"><\/span><span lang=\"en-US\" xml:lang=\"en-US\">Weakness<\/span><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #4f6228;border: 0.5pt solid windowtext;width: 104.719px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\"><span lang=\"en-US\" xml:lang=\"en-US\"><\/span><span lang=\"en-US\" xml:lang=\"en-US\" style=\"color: #ffffff\">Opportunity<\/span><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #403152;color: #ffffff;border: 0.5pt solid windowtext;width: 119.156px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\"><span lang=\"en-US\" xml:lang=\"en-US\"><\/span><span lang=\"en-US\" xml:lang=\"en-US\">Threats<\/span><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #215868;border: 0.5pt solid windowtext;width: 125.203px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\"><span lang=\"en-US\" xml:lang=\"en-US\"><\/span><span lang=\"en-US\" xml:lang=\"en-US\" style=\"color: #ffffff\">Price<\/span><\/p>\r\n<\/td>\r\n<\/tr>\r\n<tr class=\"TableGrid-R\">\r\n<td class=\"TableGrid-C\" style=\"background-color: #000000;color: #ffffff;border: 0.5pt solid windowtext;width: 119.094px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\">Your Business<\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #dbe5f1;border: 0.5pt solid windowtext;width: 97.8438px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #f2dbdb;border: 0.5pt solid windowtext;width: 92.3594px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #eaf1dd;border: 0.5pt solid windowtext;width: 104.719px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #e5dfec;border: 0.5pt solid windowtext;width: 119.156px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #daeef3;border: 0.5pt solid windowtext;width: 125.203px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<\/tr>\r\n<tr class=\"TableGrid-R\">\r\n<td class=\"TableGrid-C\" style=\"background-color: #000000;color: #ffffff;border: 0.5pt solid windowtext;width: 119.094px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\">Competitor 1<\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #dbe5f1;border: 0.5pt solid windowtext;width: 97.8438px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #f2dbdb;border: 0.5pt solid windowtext;width: 92.3594px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #eaf1dd;border: 0.5pt solid windowtext;width: 104.719px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #e5dfec;border: 0.5pt solid windowtext;width: 119.156px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #daeef3;border: 0.5pt solid windowtext;width: 125.203px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<\/tr>\r\n<tr class=\"TableGrid-R\">\r\n<td class=\"TableGrid-C\" style=\"background-color: #000000;color: #ffffff;border: 0.5pt solid windowtext;width: 119.094px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\">Competitor 2<\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #dbe5f1;border: 0.5pt solid windowtext;width: 97.8438px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #f2dbdb;border: 0.5pt solid windowtext;width: 92.3594px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #eaf1dd;border: 0.5pt solid windowtext;width: 104.719px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #e5dfec;border: 0.5pt solid windowtext;width: 119.156px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #daeef3;border: 0.5pt solid windowtext;width: 125.203px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<\/tr>\r\n<tr class=\"TableGrid-R\">\r\n<td class=\"TableGrid-C\" style=\"background-color: #000000;color: #ffffff;border: 0.5pt solid windowtext;width: 119.094px\">\r\n<p class=\"import-Normal\" style=\"text-align: center\">Competitor 3<\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #dbe5f1;border: 0.5pt solid windowtext;width: 97.8438px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #f2dbdb;border: 0.5pt solid windowtext;width: 92.3594px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #eaf1dd;border: 0.5pt solid windowtext;width: 104.719px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #e5dfec;border: 0.5pt solid windowtext;width: 119.156px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<td class=\"TableGrid-C\" style=\"background-color: #daeef3;border: 0.5pt solid windowtext;width: 125.203px\">\r\n<p class=\"import-Normal\" style=\"text-align: justify\"><\/p>\r\n<\/td>\r\n<\/tr>\r\n<tr>\r\n<td style=\"width: 119.594px\"><\/td>\r\n<td style=\"width: 98.8438px\"><\/td>\r\n<td style=\"width: 93.3594px\"><\/td>\r\n<td style=\"width: 105.719px\"><\/td>\r\n<td style=\"width: 120.156px\"><\/td>\r\n<td style=\"width: 125.703px\"><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<ul>\r\n \t<li class=\"import-Normal\">Value Chain: Porter\u2019s 5 Forces \u2013 inbound logistics; operations; outbound logistics; marketing and sales; after-sales service; procurement; human resource management; technology development; firm infrastructure.<\/li>\r\n \t<li class=\"import-Normal\">Why do you think this will work? What opportunity do you recognise? Is there a gap in the market? Are you bringing a totally new innovation?<\/li>\r\n<\/ul>\r\n<h2 class=\"import-Normal\"><strong><a id=\"Customers and Value Proposition\"><\/a>CUSTOMERS AND VALUE PROPOSITION<\/strong><\/h2>\r\n<ul>\r\n \t<li class=\"import-Normal\">Business Model: Low price (low cost); high differentiation; high customer focus or intimacy; Internet-based model?<\/li>\r\n \t<li class=\"import-Normal\">How are you ensuring that your business has a competitive advantage?<\/li>\r\n \t<li class=\"import-Normal\">What <strong>IS<\/strong> your competitive advantage?<\/li>\r\n \t<li class=\"import-Normal\">How do you have a good business model?<\/li>\r\n \t<li class=\"import-Normal\">Value Proposition<\/li>\r\n \t<li class=\"import-Normal\">How your product or service will solve a problem for your target customers.<\/li>\r\n \t<li class=\"import-Normal\">The benefits they can expect \u2013 tangible and intangible.<\/li>\r\n \t<li class=\"import-Normal\">Why they should buy from you rather than from your competitors.<\/li>\r\n<\/ul>\r\n<h3 class=\"import-Normal\">CREATE VALUE BY:<\/h3>\r\n<ol>\r\n \t<li class=\"import-Normal\">Establishing a business <em>character<\/em><em> or identity<\/em><\/li>\r\n \t<li class=\"import-Normal\">Building and maintaining a <em>social<\/em> <em>status or <\/em><em>reputation<\/em><\/li>\r\n \t<li class=\"import-Normal\"><em>Connecting<\/em> with your customers<\/li>\r\n<\/ol>\r\n<h2 class=\"import-Normal\"><strong><a id=\"Marketing Strategy\"><\/a>MARKETING STRATEGY<\/strong><\/h2>\r\n<ul>\r\n \t<li class=\"import-Normal\">Marketing Mix\r\n<ul>\r\n \t<li class=\"import-Normal\">Product\/service: <em>Quality; Performance; Design; Newness or novelty; Colours; Sizes; Specifications; Customization; Packaging; Convenience.<\/em><\/li>\r\n \t<li class=\"import-Normal\">Price: <em>List Price; Discounts (volume, loyalty, etc); Auction; Negotiated; Payment Terms; Sales and Specific Offers; Differential or Segment Pricing; Reduction in cost of other products\/services.<\/em><\/li>\r\n \t<li class=\"import-Normal\">Promotion: <em>Communication; Advertising; PR; Word-of-mouth; Fairs and exhibitions; Sponsorship; Competitions; Point of Sale Displays; Brand. <\/em><\/li>\r\n \t<li class=\"import-Normal\">Place: <em>Location; Layout; Distribution Channels; Retail\/Wholesale; Internet; Telephone; Face-to-face selling; Accessibility.<\/em><\/li>\r\n \t<li class=\"import-Normal\">People: <em>Relationships; Service; Advice; Support; Partnerships; Convenience of use.<\/em><\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li class=\"import-Normal\">Launch Strategy;<\/li>\r\n \t<li class=\"import-Normal\">Sales Tactics;<\/li>\r\n \t<li class=\"import-Normal\">Communication Tools;\r\n<ul>\r\n \t<li class=\"import-Normal\"><em>Word of mouth; Relationships and Networks; Social Networks and Media; Blogging; Guerrilla Marketing; Publicity and Public Relations; Newspaper Advertising; Radio Advertising; TV Advertising; Internet Advertising; Sponsorship; Telephone; Posters; Flyers; Billboards; Direct Mail; Email; Texting\/Tweeting. <\/em><\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li class=\"import-Normal\">Minimum Viability;<\/li>\r\n \t<li class=\"import-Normal\">Customer Feedback and Evaluation<\/li>\r\n \t<li class=\"import-Normal\">Brand Development;<\/li>\r\n \t<li class=\"import-Normal\">Competitive Reaction;<\/li>\r\n \t<li class=\"import-Normal\">Product and Market Development;\r\n<ul>\r\n \t<li class=\"import-Normal\"><em>Product Modification; Product Expansion; Product Extension; Completely New Products.<\/em><\/li>\r\n \t<li class=\"import-Normal\"><em>Star; Problem Child; Cash Cow; Cash Dog.<\/em><\/li>\r\n \t<li class=\"import-Normal\"><em>Acquisition for product and market development. <\/em><\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li class=\"import-Normal\">Growth Potential and Scale-up Plans.\r\n<ul>\r\n \t<li class=\"import-Normal\"><em>Market Penetration; Product\/Service Development; Diversification (horizontal integration, backwards vertical integration, forwards vertical integration); Market Development; Franchising. <\/em><\/li>\r\n<\/ul>\r\n<\/li>\r\n<\/ul>\r\n<h2 class=\"import-Normal\"><strong><a id=\"Operations Plan\"><\/a>OPERATIONS PLAN<\/strong><\/h2>\r\n<ul>\r\n \t<li class=\"import-Normal\">Key Operating Activities (i.e. Manufacturing Processes; Business Model; etc.)\r\n<ul>\r\n \t<li class=\"import-Normal\"><em>Sole Proprietorship; Partnership; Limited Liability or Corporation; Social Enterprise: Not-for-profit, Charities. <\/em><\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li class=\"import-Normal\">Safeguarding your business;\r\n<ul>\r\n \t<li class=\"import-Normal\"><em>Intellectual Property Law: Patent; Trademark; Registered Design; Copyright.<\/em><\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li class=\"import-Normal\">Partnerships;<\/li>\r\n \t<li class=\"import-Normal\">Business Controls;<\/li>\r\n \t<li class=\"import-Normal\">IP Issues;<\/li>\r\n \t<li class=\"import-Normal\">Scalability.<\/li>\r\n \t<li class=\"import-Normal\">Operations Plan.<\/li>\r\n \t<li class=\"import-Normal\">Gantt Chart (Link: <a class=\"rId5\" href=\"https:\/\/www.presentationgo.com\/presentation\/gantt-chart-powerpoint-google-slides\/\"><span class=\"import-Hyperlink\">Presentationgo.com<\/span><\/a>).<\/li>\r\n<\/ul>\r\n<h2 class=\"import-Normal\"><strong><a id=\"Risk Assessment\"><\/a>RISK ASSESSMENT<\/strong><\/h2>\r\n<ul>\r\n \t<li class=\"import-Normal\">Identified Risks;\r\n<ul>\r\n \t<li class=\"import-Normal\"><em>Pre-launch activities; Post-launch Operations. <\/em><\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li class=\"import-Normal\">Risk Monitoring and Mitigation;\r\n<ul>\r\n \t<li class=\"import-Normal\"><em>Pre-launch Delays; Competitors; Competitive Advantage; Market; Customer Value Proposition; Product\/Service quality; Customer Service; Cash Flow; Sales; Profits; Operations; Productivity; Administration; Brand Identity; IP; Technology; Investment; Stocks\/Inventory; Merchandising; Debtors\/Receivables; Interest rates; Exchange Rates; Management.<\/em><\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li class=\"import-Normal\">Critical Success Factors;<\/li>\r\n \t<li class=\"import-Normal\">Things that are essential to get right if the business is to achieve its mission.<\/li>\r\n \t<li class=\"import-Normal\">Assessing Risk: Impact; Probability; Control;<\/li>\r\n \t<li class=\"import-Normal\">Strategic Options<\/li>\r\n \t<li class=\"import-Normal\">Affordable loss and lean start-up; Borrowing and bootstrapping; Compartmentalizing risk; High margins and low fixed costs;<\/li>\r\n \t<li class=\"import-Normal\">3 High, 3 Medium, 3 Low\r\n<ul>\r\n \t<li>Risk (Medium | External): Snowstorm in winter.<\/li>\r\n \t<li>SO: Online store.<\/li>\r\n \t<li>M: Late opening.<\/li>\r\n \t<li>CSF: Open communication with customers.<\/li>\r\n<\/ul>\r\n<\/li>\r\n<\/ul>\r\n<h2><strong><a id=\"Management Team\"><\/a>MANAGEMENT TEAM<\/strong><\/h2>\r\n<ul>\r\n \t<li>Key People; their functions and background;<\/li>\r\n \t<li>Culture<\/li>\r\n \t<li>Organizational processes<\/li>\r\n \t<li>Leadership Styles: Authoritarian; Democratic; Laissez-faire;<\/li>\r\n \t<li>Structures;<\/li>\r\n \t<li>Controls and rewards;<\/li>\r\n \t<li>Empowerment;<\/li>\r\n \t<li>Routines; Rituals; Rites and Taboos<\/li>\r\n \t<li>Stories; Symbols and Myths.<\/li>\r\n \t<li>Cognitive Processes<\/li>\r\n \t<li>Ethics; Beliefs; Assumptions and Attitudes;<\/li>\r\n \t<li>Norms and Rules of Conduct.<\/li>\r\n \t<li>Behaviours<\/li>\r\n \t<li>How things get done: Rational v. Politicking; Following v. Bending.<\/li>\r\n \t<li>Vocabulary: Job Titles; Slogans; Metaphors; Signals; Gossip.<\/li>\r\n \t<li>Business Organization or Structure;<\/li>\r\n \t<li>Spider\u2019s Web Structure?<\/li>\r\n \t<li>Hierarchical Structure?<\/li>\r\n \t<li>Matrix and Teamworking Structure?<\/li>\r\n \t<li>Directors, Advisors or Other Key Partners;<\/li>\r\n \t<li>Skills, Gaps and Plans for filling them.<\/li>\r\n<\/ul>\r\n<h2><strong><a id=\"Resources\"><\/a>RESOURCES<\/strong><\/h2>\r\n<ul>\r\n \t<li>Human Capital\r\n<ul>\r\n \t<li>Staff<\/li>\r\n \t<li>Recruiting people:<\/li>\r\n \t<li>Job description?<\/li>\r\n \t<li>Where do you find them?<\/li>\r\n \t<li>What people do you need? What skills\/education?<\/li>\r\n \t<li>Full-time? Part-time? Contract?<\/li>\r\n \t<li>Salary? Hourly? Piecework? Commission?<\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li>Social Resources (Strong vs Weak Networks)\r\n<ul>\r\n \t<li>Accountants?<\/li>\r\n \t<li>Lawyers?<\/li>\r\n \t<li>Business Consultants?<\/li>\r\n \t<li>Mentors?<\/li>\r\n \t<li>Emotional Support?<\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li>Financial Resources;\r\n<ul>\r\n \t<li>Where are you getting your money from?\r\n<ul>\r\n \t<li><em>Premises and Facilities;<\/em><\/li>\r\n \t<li><em>Machinery and equipment;<\/em><\/li>\r\n<\/ul>\r\n<\/li>\r\n<\/ul>\r\n<\/li>\r\n<\/ul>\r\n<h2><strong><a id=\"Financing\"><\/a>FINANCING<\/strong><\/h2>\r\n<ul>\r\n \t<li>Founder\u2019s contribution;<\/li>\r\n \t<li>Loan and\/or equity finance requirements;<\/li>\r\n \t<li>Gearing\/leverage;<\/li>\r\n \t<li>Timescale and exit routes for equity investors;<\/li>\r\n \t<li>Financial Projections:<\/li>\r\n \t<li>Income Projections;<\/li>\r\n \t<li>Cash Flow Projections;<\/li>\r\n \t<li>Balance Sheet Projections;<\/li>\r\n \t<li>Key Ratios;<\/li>\r\n \t<li>The assumptions on which your projections are based.<\/li>\r\n<\/ul>\r\n<h2><a id=\"Exit Planning\"><\/a>EXIT PLANNING<\/h2>\r\n<ul>\r\n \t<li>Exit options\r\n<ul>\r\n \t<li>Sale, Acquisition, Bankruptcy, etc.<\/li>\r\n<\/ul>\r\n<\/li>\r\n<\/ul>\r\n<\/div>","rendered":"<div class=\"__UNKNOWN__\">\n<h1 style=\"text-align: center\">BUSINESS PLAN<\/h1>\n<h2 class=\"import-Normal\"><strong><a><\/a>BUSINESS DETAILS<\/strong><\/h2>\n<ul>\n<li class=\"import-Normal\">What kind of entrepreneur are you? <em>Innovator? Lifestyle? Income-replacement<\/em><\/li>\n<li class=\"import-Normal\">What kind of business are you?<\/li>\n<li class=\"import-Normal\"><em>Disruptive Innovation? New-to-the-world Industries? Incremental Product\/Service? Innovation? Copy-cat? Market Development Market Paradigm Shift?<\/em><\/li>\n<li class=\"import-Normal\"><em>Sole Proprietorship? Partnership? Corporation? S-Corporation? Non-Profit? <\/em><\/li>\n<li class=\"import-Normal\">Is your business part-time or full-time work?<\/li>\n<li class=\"import-Normal\">Why do you want to start this business?<\/li>\n<li class=\"import-Normal\">Have you not added your entrepreneurial characteristics quizzes to talk about\/discuss yourself in the business details? Remember <strong>YOU<\/strong> are your business, and the business identity is shaped in <strong>YOUR<\/strong> vision.<\/li>\n<\/ul>\n<h2 class=\"import-Normal\"><strong><a><\/a>INDUSTRY AND MARKET ANALYSIS<\/strong><\/h2>\n<ul>\n<li class=\"import-Normal\">Market\/Industry Lifecycle: <em>New Market? Emerging? Growing? Mature? Declining? <\/em><\/li>\n<li class=\"import-Normal\">Market\/Industry Concentration: <em>Fragmented? Consolidated?<\/em><\/li>\n<li class=\"import-Normal\">Market\/Industry Geographic Extent: <em>Local, <\/em><em>regional<\/em><em> or national? Global?<\/em><\/li>\n<li class=\"import-Normal\">Competitors: <em>Direct? Indirect? Future Competitors?<\/em><\/li>\n<li class=\"import-Normal\">Market Size: <em>Potential Market? Total Available Market? Served Available Market? Penetrated Market? <\/em><\/li>\n<li class=\"import-Normal\">Market Analysis Techniques\/Tools:<\/li>\n<\/ul>\n<h3 class=\"import-Normal\">PESTEL Analysis<\/h3>\n<table class=\"aligncenter\" style=\"height: 385px\">\n<tbody>\n<tr class=\"TableGrid-R\" style=\"height: 59px\">\n<td class=\"TableGrid-C\" style=\"background-color: #244061;color: #ffffff;vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 9.21875px\">\n<p class=\"import-Normal\" style=\"text-align: center\">P<\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 96.1875px\">\n<p class=\"import-Normal\" style=\"text-align: center\">Political<\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 1230.75px\">\n<p class=\"import-Normal\" style=\"text-align: left\"><em>Political factors include elements such as tax policies, changes in trade restrictions and tariffs, and the stability of governments.<\/em><\/p>\n<p class=\"import-Normal\">\n<\/td>\n<\/tr>\n<tr class=\"TableGrid-R\" style=\"height: 75px\">\n<td class=\"TableGrid-C\" style=\"background-color: #244061;color: #ffffff;vertical-align: middle;border: 0.5pt solid windowtext;height: 75px;width: 9.21875px\">\n<p class=\"import-Normal\" style=\"text-align: center\">E<\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 75px;width: 96.1875px\">\n<p class=\"import-Normal\" style=\"text-align: center\">Economic<\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 75px;width: 1230.75px\">\n<p class=\"import-Normal\"><em>Economic factors include elements such as interest rates, inflation rates, gross domestic product, unemployment rates, levels of disposable income, and the general growth or decline of the economy.<\/em><\/p>\n<p class=\"import-Normal\">\n<\/td>\n<\/tr>\n<tr class=\"TableGrid-R\" style=\"height: 59px\">\n<td class=\"TableGrid-C\" style=\"background-color: #244061;color: #ffffff;vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 9.21875px\">\n<p class=\"import-Normal\" style=\"text-align: center\">S<\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 96.1875px\">\n<p class=\"import-Normal\" style=\"text-align: center\">Social<\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 1230.75px\">\n<p class=\"import-Normal\"><em>Social factors include trends in demographics such as population size, age, and ethnic mix, as well as cultural trends such as attitudes toward obesity and consumer activism. <\/em><\/p>\n<p class=\"import-Normal\">\n<\/td>\n<\/tr>\n<tr class=\"TableGrid-R\" style=\"height: 59px\">\n<td class=\"TableGrid-C\" style=\"background-color: #244061;color: #ffffff;vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 9.21875px\">\n<p class=\"import-Normal\" style=\"text-align: center\">T<\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 96.1875px\">\n<p class=\"import-Normal\" style=\"text-align: center\">Technological<\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 1230.75px\">\n<p class=\"import-Normal\"><em>Technological factors include, for example, changes in the rate of new product development, increase in automation, and advancements in service industry delivery. <\/em><\/p>\n<p class=\"import-Normal\">\n<\/td>\n<\/tr>\n<tr class=\"TableGrid-R\" style=\"height: 59px\">\n<td class=\"TableGrid-C\" style=\"background-color: #244061;color: #ffffff;vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 9.21875px\">\n<p class=\"import-Normal\" style=\"text-align: center\">E<\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 96.1875px\">\n<p class=\"import-Normal\" style=\"text-align: center\">Environmental<\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 1230.75px\">\n<p class=\"import-Normal\"><em>Environmental factors include, for example, natural disasters, and weather patterns. <\/em><\/p>\n<p class=\"import-Normal\">\n<\/td>\n<\/tr>\n<tr class=\"TableGrid-R\" style=\"height: 59px\">\n<td class=\"TableGrid-C\" style=\"background-color: #244061;color: #ffffff;vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 9.21875px\">\n<p class=\"import-Normal\" style=\"text-align: center\">L<\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 96.1875px\">\n<p class=\"import-Normal\" style=\"text-align: center\">Legal<\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"vertical-align: middle;border: 0.5pt solid windowtext;height: 59px;width: 1230.75px\">\n<p class=\"import-Normal\"><em>Legal factors include laws involving issues such as employment, health, and safety, discrimination, and antitrust. <\/em><\/p>\n<p class=\"import-Normal\">\n<\/td>\n<\/tr>\n<tr style=\"height: 15px\">\n<td style=\"height: 15px;width: 9.71875px\"><\/td>\n<td style=\"height: 15px;width: 97.1875px\"><\/td>\n<td style=\"height: 15px;width: 1231.25px\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3 class=\"import-Normal\">SWOT Analysis<\/h3>\n<table style=\"width: 743px\">\n<tbody>\n<tr class=\"TableGrid-R\">\n<td class=\"TableGrid-C\" style=\"border-width: 0pt 0.5pt 0.5pt 0pt;border-style: none solid solid none;border-color: windowtext;width: 119.094px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #244061;color: #ffffff;border: 0.5pt solid windowtext;width: 97.8438px\">\n<p class=\"import-Normal\" style=\"text-align: center\">Strengths<\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #632423;color: #ffffff;border: 0.5pt solid windowtext;width: 92.3594px\">\n<p class=\"import-Normal\" style=\"text-align: center\"><span lang=\"en-US\" xml:lang=\"en-US\"><\/span><span lang=\"en-US\" xml:lang=\"en-US\">Weakness<\/span><\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #4f6228;border: 0.5pt solid windowtext;width: 104.719px\">\n<p class=\"import-Normal\" style=\"text-align: center\"><span lang=\"en-US\" xml:lang=\"en-US\"><\/span><span lang=\"en-US\" xml:lang=\"en-US\" style=\"color: #ffffff\">Opportunity<\/span><\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #403152;color: #ffffff;border: 0.5pt solid windowtext;width: 119.156px\">\n<p class=\"import-Normal\" style=\"text-align: center\"><span lang=\"en-US\" xml:lang=\"en-US\"><\/span><span lang=\"en-US\" xml:lang=\"en-US\">Threats<\/span><\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #215868;border: 0.5pt solid windowtext;width: 125.203px\">\n<p class=\"import-Normal\" style=\"text-align: center\"><span lang=\"en-US\" xml:lang=\"en-US\"><\/span><span lang=\"en-US\" xml:lang=\"en-US\" style=\"color: #ffffff\">Price<\/span><\/p>\n<\/td>\n<\/tr>\n<tr class=\"TableGrid-R\">\n<td class=\"TableGrid-C\" style=\"background-color: #000000;color: #ffffff;border: 0.5pt solid windowtext;width: 119.094px\">\n<p class=\"import-Normal\" style=\"text-align: center\">Your Business<\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #dbe5f1;border: 0.5pt solid windowtext;width: 97.8438px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #f2dbdb;border: 0.5pt solid windowtext;width: 92.3594px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #eaf1dd;border: 0.5pt solid windowtext;width: 104.719px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #e5dfec;border: 0.5pt solid windowtext;width: 119.156px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #daeef3;border: 0.5pt solid windowtext;width: 125.203px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<\/tr>\n<tr class=\"TableGrid-R\">\n<td class=\"TableGrid-C\" style=\"background-color: #000000;color: #ffffff;border: 0.5pt solid windowtext;width: 119.094px\">\n<p class=\"import-Normal\" style=\"text-align: center\">Competitor 1<\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #dbe5f1;border: 0.5pt solid windowtext;width: 97.8438px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #f2dbdb;border: 0.5pt solid windowtext;width: 92.3594px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #eaf1dd;border: 0.5pt solid windowtext;width: 104.719px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #e5dfec;border: 0.5pt solid windowtext;width: 119.156px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #daeef3;border: 0.5pt solid windowtext;width: 125.203px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<\/tr>\n<tr class=\"TableGrid-R\">\n<td class=\"TableGrid-C\" style=\"background-color: #000000;color: #ffffff;border: 0.5pt solid windowtext;width: 119.094px\">\n<p class=\"import-Normal\" style=\"text-align: center\">Competitor 2<\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #dbe5f1;border: 0.5pt solid windowtext;width: 97.8438px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #f2dbdb;border: 0.5pt solid windowtext;width: 92.3594px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #eaf1dd;border: 0.5pt solid windowtext;width: 104.719px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #e5dfec;border: 0.5pt solid windowtext;width: 119.156px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #daeef3;border: 0.5pt solid windowtext;width: 125.203px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<\/tr>\n<tr class=\"TableGrid-R\">\n<td class=\"TableGrid-C\" style=\"background-color: #000000;color: #ffffff;border: 0.5pt solid windowtext;width: 119.094px\">\n<p class=\"import-Normal\" style=\"text-align: center\">Competitor 3<\/p>\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #dbe5f1;border: 0.5pt solid windowtext;width: 97.8438px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #f2dbdb;border: 0.5pt solid windowtext;width: 92.3594px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #eaf1dd;border: 0.5pt solid windowtext;width: 104.719px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #e5dfec;border: 0.5pt solid windowtext;width: 119.156px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<td class=\"TableGrid-C\" style=\"background-color: #daeef3;border: 0.5pt solid windowtext;width: 125.203px\">\n<p class=\"import-Normal\" style=\"text-align: justify\">\n<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 119.594px\"><\/td>\n<td style=\"width: 98.8438px\"><\/td>\n<td style=\"width: 93.3594px\"><\/td>\n<td style=\"width: 105.719px\"><\/td>\n<td style=\"width: 120.156px\"><\/td>\n<td style=\"width: 125.703px\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li class=\"import-Normal\">Value Chain: Porter\u2019s 5 Forces \u2013 inbound logistics; operations; outbound logistics; marketing and sales; after-sales service; procurement; human resource management; technology development; firm infrastructure.<\/li>\n<li class=\"import-Normal\">Why do you think this will work? What opportunity do you recognise? Is there a gap in the market? Are you bringing a totally new innovation?<\/li>\n<\/ul>\n<h2 class=\"import-Normal\"><strong><a><\/a>CUSTOMERS AND VALUE PROPOSITION<\/strong><\/h2>\n<ul>\n<li class=\"import-Normal\">Business Model: Low price (low cost); high differentiation; high customer focus or intimacy; Internet-based model?<\/li>\n<li class=\"import-Normal\">How are you ensuring that your business has a competitive advantage?<\/li>\n<li class=\"import-Normal\">What <strong>IS<\/strong> your competitive advantage?<\/li>\n<li class=\"import-Normal\">How do you have a good business model?<\/li>\n<li class=\"import-Normal\">Value Proposition<\/li>\n<li class=\"import-Normal\">How your product or service will solve a problem for your target customers.<\/li>\n<li class=\"import-Normal\">The benefits they can expect \u2013 tangible and intangible.<\/li>\n<li class=\"import-Normal\">Why they should buy from you rather than from your competitors.<\/li>\n<\/ul>\n<h3 class=\"import-Normal\">CREATE VALUE BY:<\/h3>\n<ol>\n<li class=\"import-Normal\">Establishing a business <em>character<\/em><em> or identity<\/em><\/li>\n<li class=\"import-Normal\">Building and maintaining a <em>social<\/em> <em>status or <\/em><em>reputation<\/em><\/li>\n<li class=\"import-Normal\"><em>Connecting<\/em> with your customers<\/li>\n<\/ol>\n<h2 class=\"import-Normal\"><strong><a><\/a>MARKETING STRATEGY<\/strong><\/h2>\n<ul>\n<li class=\"import-Normal\">Marketing Mix\n<ul>\n<li class=\"import-Normal\">Product\/service: <em>Quality; Performance; Design; Newness or novelty; Colours; Sizes; Specifications; Customization; Packaging; Convenience.<\/em><\/li>\n<li class=\"import-Normal\">Price: <em>List Price; Discounts (volume, loyalty, etc); Auction; Negotiated; Payment Terms; Sales and Specific Offers; Differential or Segment Pricing; Reduction in cost of other products\/services.<\/em><\/li>\n<li class=\"import-Normal\">Promotion: <em>Communication; Advertising; PR; Word-of-mouth; Fairs and exhibitions; Sponsorship; Competitions; Point of Sale Displays; Brand. <\/em><\/li>\n<li class=\"import-Normal\">Place: <em>Location; Layout; Distribution Channels; Retail\/Wholesale; Internet; Telephone; Face-to-face selling; Accessibility.<\/em><\/li>\n<li class=\"import-Normal\">People: <em>Relationships; Service; Advice; Support; Partnerships; Convenience of use.<\/em><\/li>\n<\/ul>\n<\/li>\n<li class=\"import-Normal\">Launch Strategy;<\/li>\n<li class=\"import-Normal\">Sales Tactics;<\/li>\n<li class=\"import-Normal\">Communication Tools;\n<ul>\n<li class=\"import-Normal\"><em>Word of mouth; Relationships and Networks; Social Networks and Media; Blogging; Guerrilla Marketing; Publicity and Public Relations; Newspaper Advertising; Radio Advertising; TV Advertising; Internet Advertising; Sponsorship; Telephone; Posters; Flyers; Billboards; Direct Mail; Email; Texting\/Tweeting. <\/em><\/li>\n<\/ul>\n<\/li>\n<li class=\"import-Normal\">Minimum Viability;<\/li>\n<li class=\"import-Normal\">Customer Feedback and Evaluation<\/li>\n<li class=\"import-Normal\">Brand Development;<\/li>\n<li class=\"import-Normal\">Competitive Reaction;<\/li>\n<li class=\"import-Normal\">Product and Market Development;\n<ul>\n<li class=\"import-Normal\"><em>Product Modification; Product Expansion; Product Extension; Completely New Products.<\/em><\/li>\n<li class=\"import-Normal\"><em>Star; Problem Child; Cash Cow; Cash Dog.<\/em><\/li>\n<li class=\"import-Normal\"><em>Acquisition for product and market development. <\/em><\/li>\n<\/ul>\n<\/li>\n<li class=\"import-Normal\">Growth Potential and Scale-up Plans.\n<ul>\n<li class=\"import-Normal\"><em>Market Penetration; Product\/Service Development; Diversification (horizontal integration, backwards vertical integration, forwards vertical integration); Market Development; Franchising. <\/em><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2 class=\"import-Normal\"><strong><a><\/a>OPERATIONS PLAN<\/strong><\/h2>\n<ul>\n<li class=\"import-Normal\">Key Operating Activities (i.e. Manufacturing Processes; Business Model; etc.)\n<ul>\n<li class=\"import-Normal\"><em>Sole Proprietorship; Partnership; Limited Liability or Corporation; Social Enterprise: Not-for-profit, Charities. <\/em><\/li>\n<\/ul>\n<\/li>\n<li class=\"import-Normal\">Safeguarding your business;\n<ul>\n<li class=\"import-Normal\"><em>Intellectual Property Law: Patent; Trademark; Registered Design; Copyright.<\/em><\/li>\n<\/ul>\n<\/li>\n<li class=\"import-Normal\">Partnerships;<\/li>\n<li class=\"import-Normal\">Business Controls;<\/li>\n<li class=\"import-Normal\">IP Issues;<\/li>\n<li class=\"import-Normal\">Scalability.<\/li>\n<li class=\"import-Normal\">Operations Plan.<\/li>\n<li class=\"import-Normal\">Gantt Chart (Link: <a class=\"rId5\" href=\"https:\/\/www.presentationgo.com\/presentation\/gantt-chart-powerpoint-google-slides\/\"><span class=\"import-Hyperlink\">Presentationgo.com<\/span><\/a>).<\/li>\n<\/ul>\n<h2 class=\"import-Normal\"><strong><a><\/a>RISK ASSESSMENT<\/strong><\/h2>\n<ul>\n<li class=\"import-Normal\">Identified Risks;\n<ul>\n<li class=\"import-Normal\"><em>Pre-launch activities; Post-launch Operations. <\/em><\/li>\n<\/ul>\n<\/li>\n<li class=\"import-Normal\">Risk Monitoring and Mitigation;\n<ul>\n<li class=\"import-Normal\"><em>Pre-launch Delays; Competitors; Competitive Advantage; Market; Customer Value Proposition; Product\/Service quality; Customer Service; Cash Flow; Sales; Profits; Operations; Productivity; Administration; Brand Identity; IP; Technology; Investment; Stocks\/Inventory; Merchandising; Debtors\/Receivables; Interest rates; Exchange Rates; Management.<\/em><\/li>\n<\/ul>\n<\/li>\n<li class=\"import-Normal\">Critical Success Factors;<\/li>\n<li class=\"import-Normal\">Things that are essential to get right if the business is to achieve its mission.<\/li>\n<li class=\"import-Normal\">Assessing Risk: Impact; Probability; Control;<\/li>\n<li class=\"import-Normal\">Strategic Options<\/li>\n<li class=\"import-Normal\">Affordable loss and lean start-up; Borrowing and bootstrapping; Compartmentalizing risk; High margins and low fixed costs;<\/li>\n<li class=\"import-Normal\">3 High, 3 Medium, 3 Low\n<ul>\n<li>Risk (Medium | External): Snowstorm in winter.<\/li>\n<li>SO: Online store.<\/li>\n<li>M: Late opening.<\/li>\n<li>CSF: Open communication with customers.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><strong><a><\/a>MANAGEMENT TEAM<\/strong><\/h2>\n<ul>\n<li>Key People; their functions and background;<\/li>\n<li>Culture<\/li>\n<li>Organizational processes<\/li>\n<li>Leadership Styles: Authoritarian; Democratic; Laissez-faire;<\/li>\n<li>Structures;<\/li>\n<li>Controls and rewards;<\/li>\n<li>Empowerment;<\/li>\n<li>Routines; Rituals; Rites and Taboos<\/li>\n<li>Stories; Symbols and Myths.<\/li>\n<li>Cognitive Processes<\/li>\n<li>Ethics; Beliefs; Assumptions and Attitudes;<\/li>\n<li>Norms and Rules of Conduct.<\/li>\n<li>Behaviours<\/li>\n<li>How things get done: Rational v. Politicking; Following v. Bending.<\/li>\n<li>Vocabulary: Job Titles; Slogans; Metaphors; Signals; Gossip.<\/li>\n<li>Business Organization or Structure;<\/li>\n<li>Spider\u2019s Web Structure?<\/li>\n<li>Hierarchical Structure?<\/li>\n<li>Matrix and Teamworking Structure?<\/li>\n<li>Directors, Advisors or Other Key Partners;<\/li>\n<li>Skills, Gaps and Plans for filling them.<\/li>\n<\/ul>\n<h2><strong><a id=\"Resources\"><\/a>RESOURCES<\/strong><\/h2>\n<ul>\n<li>Human Capital\n<ul>\n<li>Staff<\/li>\n<li>Recruiting people:<\/li>\n<li>Job description?<\/li>\n<li>Where do you find them?<\/li>\n<li>What people do you need? What skills\/education?<\/li>\n<li>Full-time? Part-time? Contract?<\/li>\n<li>Salary? Hourly? Piecework? Commission?<\/li>\n<\/ul>\n<\/li>\n<li>Social Resources (Strong vs Weak Networks)\n<ul>\n<li>Accountants?<\/li>\n<li>Lawyers?<\/li>\n<li>Business Consultants?<\/li>\n<li>Mentors?<\/li>\n<li>Emotional Support?<\/li>\n<\/ul>\n<\/li>\n<li>Financial Resources;\n<ul>\n<li>Where are you getting your money from?\n<ul>\n<li><em>Premises and Facilities;<\/em><\/li>\n<li><em>Machinery and equipment;<\/em><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><strong><a id=\"Financing\"><\/a>FINANCING<\/strong><\/h2>\n<ul>\n<li>Founder\u2019s contribution;<\/li>\n<li>Loan and\/or equity finance requirements;<\/li>\n<li>Gearing\/leverage;<\/li>\n<li>Timescale and exit routes for equity investors;<\/li>\n<li>Financial Projections:<\/li>\n<li>Income Projections;<\/li>\n<li>Cash Flow Projections;<\/li>\n<li>Balance Sheet Projections;<\/li>\n<li>Key Ratios;<\/li>\n<li>The assumptions on which your projections are based.<\/li>\n<\/ul>\n<h2><a><\/a>EXIT PLANNING<\/h2>\n<ul>\n<li>Exit options\n<ul>\n<li>Sale, Acquisition, Bankruptcy, etc.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div>\n","protected":false},"author":30,"menu_order":2,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-37","chapter","type-chapter","status-publish","hentry"],"part":3,"_links":{"self":[{"href":"https:\/\/pressbooks.library.upei.ca\/businessstartupandentrepreneurshipcanadaworkbook\/wp-json\/pressbooks\/v2\/chapters\/37","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pressbooks.library.upei.ca\/businessstartupandentrepreneurshipcanadaworkbook\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/pressbooks.library.upei.ca\/businessstartupandentrepreneurshipcanadaworkbook\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/pressbooks.library.upei.ca\/businessstartupandentrepreneurshipcanadaworkbook\/wp-json\/wp\/v2\/users\/30"}],"version-history":[{"count":4,"href":"https:\/\/pressbooks.library.upei.ca\/businessstartupandentrepreneurshipcanadaworkbook\/wp-json\/pressbooks\/v2\/chapters\/37\/revisions"}],"predecessor-version":[{"id":51,"href":"https:\/\/pressbooks.library.upei.ca\/businessstartupandentrepreneurshipcanadaworkbook\/wp-json\/pressbooks\/v2\/chapters\/37\/revisions\/51"}],"part":[{"href":"https:\/\/pressbooks.library.upei.ca\/businessstartupandentrepreneurshipcanadaworkbook\/wp-json\/pressbooks\/v2\/parts\/3"}],"metadata":[{"href":"https:\/\/pressbooks.library.upei.ca\/businessstartupandentrepreneurshipcanadaworkbook\/wp-json\/pressbooks\/v2\/chapters\/37\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/pressbooks.library.upei.ca\/businessstartupandentrepreneurshipcanadaworkbook\/wp-json\/wp\/v2\/media?parent=37"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/pressbooks.library.upei.ca\/businessstartupandentrepreneurshipcanadaworkbook\/wp-json\/pressbooks\/v2\/chapter-type?post=37"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/pressbooks.library.upei.ca\/businessstartupandentrepreneurshipcanadaworkbook\/wp-json\/wp\/v2\/contributor?post=37"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/pressbooks.library.upei.ca\/businessstartupandentrepreneurshipcanadaworkbook\/wp-json\/wp\/v2\/license?post=37"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}