Business Plan Competition

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Business Plan Competition

• The Written Business Plan
• Dr. Christine A. Haff, Assistant Director
• South Carolina Virtual Enterprise Network

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• Why write a business plan?

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Reasons for Writing a Business Plan

• Clarify your vision
• Determine profitability
• Estimate start-up costs
• Understand the risks
• Obtain financing
• Know what you need to doa guide

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Introductory Content10

• Table of contents
• Statement of purpose
• Executive summary
• Mission statement
• Business objectives (SMART)
• Company description
• Description of staffing

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Market Analysis24

• Industry Analysisreal and virtual
• Marketing Plan
• Marketing Mix
• Product
• Placement
• Price
• Promotion
• Target Market
• Market Segmentation

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SWOT Analysis10

• Internal Audit
• Strengths
• Weaknesses
• External Audit
• Opportunities
• Threats
• Discussion of Business Risks

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Operating Procedures10

• Location(s)
• Processesrelevant to business
• How do you get your products
• How do you store your inventory
• How do you distribute your products

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Financial Data26

• Start-up firmStart-up budget
• All firms
• Balance sheet
• Income statement projected
• Year Oneby month
• Year Two and Threeby quarter
• Assumptionsie. Market share, economy

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Financial Data Continued

• Cash Flow Statement
• One year projected-By month
• Break-even Analysis
• Financial Write-up

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Feasibility10

• Will business be successful?
• Is this a good investment?

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Written Presentation10

• Logical organization
• Print quality
• Creativity
• Professional layout and binding
• Graphs, charts, diagrams, pictures, etc.
• Writing quality

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Supporting Documents0

• Company ContractsAt least one!
• Amount less than 75 of annual salary expense
• Approval of State Director
• Evidence of Negotiation (real world)
• Business License
• Resume of CEO/Department Heads

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