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SESSION 8: INTEGRATING AND CONTROL. TOPICS COVERED Participants will produce a formal business plan that will include a component of each of the following: Week 1: Introduction Week 2: Entrepreneurship Week 3: Idea development Week 4: Marketing

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SESSION 8:

INTEGRATING AND CONTROL

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TOPICS COVERED

Participants will produce a formal business plan that will include a component of each of the following:

Week 1: Introduction

Week 2: Entrepreneurship

Week 3: Idea development

Week 4: Marketing

Week 5: Competitors and Organisational and legal structure

Week 6: Technical developments and Risk assessment

Week 7: Finance

Week 8: Integrating and control

Week 9: Guest speakers

Week 10: Summary

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CONTACT DETAILS

SURGERY HOURS

On Request

introduction executive summary
Introduction/Executive summary
  • A brief summary of the whole business plan
  • It must be eye/attention catching
  • This is normally the last paragraph you write
  • Logical sequence:
    • Broad background/trends
    • Which resulted in your specific product/service idea
    • Your vision for the product/service
    • The uniqueness
    • The purpose of the business plan
brief description of your business
Brief description of your business
  • Name of the business
  • Address
  • Fax number; Telephone number; Mobile number; E-mail address
  • Contact person
  • When the organisation was started
  • Vision/mission of the organisation
  • Products/services that the organisation provides
your product or service
Your product or service
  • Product/Service
  • Aim of product/service (characteristics of customers and what needs are addressed)
  • Unique characteristics of product/service
  • Technology required to deliver/produce product/service
  • License/Patent needed to develop/sell product/service
  • Future potential of product/service
  • Competitors and their strengths and weaknesses
organisation structure
Organisation structure
  • Describe the number of staff, their roles, experience and training required
  • List the consultants/advisors that will be used
  • Legal structure
sales and marketing
Sales and marketing
  • Pricing of product/service (indicate how calculated)
  • Promotion (e.g. advertisements, social media instruments)
  • Location and why
  • Special activities to sell product/service
business operations
Business operations
  • The production process
  • The capacity of the production process
  • Equipment necessary in the production process
  • What will happen in case of breakdowns
  • Describe the premises and location
financial considerations
Financial considerations
  •  Financial requirements  
    • Item
    • Source of funding
    • Price of item
    • Guarantees
    • When required
    • Deals on offer
  • Expenses budget
  • Break-even
  • Cash flow analysis
  • Income statement
  • Balance sheets
risks
Risks
  • What are the biggest risks
  • How will you manage it
summary
Summary
  • End in a positive sentence
  • Indicate that you are eager to implement idea
references
References
  • Need at least 6 references
  • Must be indicated in the text as well
  • Can include: reference books; web sites; newspaper articles; interviews
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Useful Resources

You can download workbooks, spreadsheets and examples at :

  • http://www.businesslink.gov.uk
    • Home > Finance and grants > Cash flow > Financial and management accounts: the basics
    • http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1073869162
introduction
Introduction
  • The purpose of this assignment (to analyse another’s business plan, use that as reflection to improve own skills) 
description of peer s business idea
Description of peer's business idea
  • The person
  • The business
  • The idea 
lessons learned
Lessons learned
  •  What have you learned from that business plan?
  • Are there any solutions you would consider implementing yourself?
  • What would you do differently?
your reflection about self employment
Your reflection about self-employment
  • Will you be able to create your own employment?
  • Motivate your answer 
own development needs
Own development needs
  •  What are your development needs with regards to starting a business?
  • How can you work on those needs and improve?
summary1
Summary
  • Summarising what you have learned from this assignment
references1
References
  • At least 5 references
exercise
Exercise
  • For the next session analyse the business plan for LIGHT-GUARD MANUFACTURING LTD.
  • following business plan and indicate:
    • What are good
    • What needs additional attention
  • http://www.ncge.com/communities/education/reference/search/basic/Business%20plan/5