Week 6
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Week 6. Check-in : Business model. You should have completed the business model page in your workbook. You’ll need this for the Business Plan. . Agenda. Topics Business Plan Activity Writing Your Business Plan . What is a business plan?. A formal document that shows:

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Check in business model
Check-in: Business model

  • You should have completed the business model page in your workbook. You’ll need this for the Business Plan.


Agenda
Agenda

  • Topics

    • Business Plan

  • Activity

    • Writing Your Business Plan


What is a business plan
What is a business plan?

  • A formal document that shows:

    • Main employees

    • Product

    • Market

    • Business model

    • Long-term goals, etc.

  • It’s what you would show a potential investor in order to convince them to give you $$

  • Can be as long and detailed as you like (~3-4 pages)


Components of the business plan
Components of the Business Plan

  • Team Name, App Name, and Member Names

  • Executive Summary

  • Company Summary

  • Product Description

  • Market Analysis

  • Strategy & Implementation Plan

  • Financial Analysis


2 executive summary
2. Executive Summary

  • Summarizes the major points for the rest of the plan


3 company summary
3. Company Summary

  • List individuals on the team and any relevant experiences in their backgrounds


4 product description
4. Product Description

  • What is the product or service?

    • What does it do?

  • What is the value proposition?

    • How will it benefit customers? What needs are you addressing?


5 market analysis
5. Market Analysis

  • Who is the customer?

    • What are their needs?

    • What were the results of your customer surveys?

  • How big is your market?

  • Describe any competitors

    • How do you plan to differentiate yourself from them?


6 strategy implementation plan
6. Strategy & Implementation Plan

  • How will you bring the product or service to the market?

  • How will you build awareness amongst customer base?

    • List actions you will take to launching your product or service

    • List your distribution channels – where will customers get access to your app

    • Highlight how you will draw customers to it


7 financial analysis
7. Financial Analysis

  • Profit = revenue – cost

    • What are your revenue streams?

      • How much does your product or service cost?

    • What is your cost structure?

  • How much money will you make?

    • Realistically, how many customers do you think you will have this year? Next year?

    • Multiply the number of customers by how much each person will spend on your app. That will be your revenue.


Activity design the first half of your business plan
Activity: Design The First Half of Your Business Plan

  • Team Name, App Name, Member Names, Executive Summary, Company Summary, Product Description

  • You’ve already answered most of these questions

  • To get started: go through your workbook pages 21- 24

    • Refer to pages 19 and 20in the workbook

  • Type a finalized version of your business plan from your workbook

  • Record your ideas in pages 21- 24 of the workbook


    Task list
    Task List

    • Complete at least half of your business plan (typed!)

      • Team Name, App Name, Member Names, Executive Summary, Company Summary, Product Description

    • Prototype Development:

      • Continue working on adding functionality to each screen