Entrep (Finals)

Quick Summary

Quick Summary

A brief synopsis lasting no more than thirty seconds to three minutes, used to interest potential investors, customers, or strategic partners.

The Presentation

A relatively short, colorful, and entertaining slide show with a running narrative, meant to interest potential investors in reading the detailed business plan.

Investor's Business Plan

A detailed business plan that is well written and formatted so all the information can be easily understood, focusing on profitability and unique selling points.

Operational Business Plan

A start-up business's plan meant for use within the business only, describing in greater detail how the company will meet its goals and often less formal than an investor's business plan.

Executive Summary

Functions as the "hook" of the overall document, capturing the reader's attention and convincing them to read further, written after sections 2-6 are completed.

Business Overview

A briefer of the nature of the industry your business is in, emphasizing goals to achieve and potential future expansion efforts.

Market Analysis

Presents an overview of specific market conditions, discussing potential advantages and threats in the market targeting and industry competition.

5Cs Analysis

Analyzing the market, company, customers, competitors, and collaborators.

SWOT Analysis

Analyzing strengths, weaknesses, opportunities, and threats of the business.

Customers

Individuals and organizations who purchase, receive, and consume products, services, and/or ideas of a business.

Market Volume

The total amount of potential transactions between buyers and sellers on a daily, monthly, quarterly, or yearly basis.

Customer Power Assessment

Analyzing the balance of power between the business and the customer, including factors like bargaining power and switching costs.

Competitor Typology

Identifying different types of competitors, including direct competitors, direct industry competitors, substitute competitors, and generic competitors.

Competitive Analysis

Evaluating the strengths and weaknesses of competitors and their products/services.

Collaborator

Individuals or other businesses that provide support and help the enterprise in terms of management, production, and marketing.

Supply Flows

Flow of materials, flow of money, and flow of information in the supply chain.

Climate

High-influence laws and other legalities, access to supply, industry culture and practices, level/quality of technology.

Business and market conditions

Identifying the factors that have a high impact on the market and other aspects of the business.

New Policies In Place, Current Government Gaps/Oversight

The policies and government oversight that affect the business.

Nature/Culture Of The Overall Industry

The characteristics of the industry that the business operates in.

New And Future Technologies

The technologies that are currently being used or will be used in the future.

Economic Factors

Factors such as the business cycle, inflation, taxes, demand, consumer income, GDP growth, and supply shortage and surplus.

Global Considerations

The impact of global political events, global economies, forex, and supply disruptions on the business.

Environmental Considerations And Acts Of God

The impact of environmental factors and natural disasters on supply chains and operations.

Operations

The core and non-core activities that keep the business running.

Core

Crucial activities for the company's growth, such as inventory check.

Non-core

Simple daily activities that are done every day, such as opening and closing the store.

Operation Management

Addressing the means of organizing and managing the activities.

4Ms of Operations

Material, Machine, Method, and Manpower.

Material

Handling of raw materials or information management for services.

Machine

Equipment and technologies used in production, ensuring quality and safety.

Method

Standard operating procedures in place to ensure quality in core activities.

Manpower

Human resources involved, their skills, competency, and adherence to protocols.

Location & Facility/Facilities

Physical location and facilities needed for the business.

Digital Operations Platforms & Processes (Online)

Digital space for streamlined activities and user-customer experiences.

Equipment, Materials & Maintenance

What is needed for production, maintenance, and quality inspections.

Human Resource Management

Staffing, training, duties, responsibilities, and policies for employees.

Logistics

Handling and organizing materials, equipment, and goods, including purchasing, transportation, inventory management, and purchase and delivery.

General Business Policies

Procedures and guidelines for various aspects of the business.

Marketing

Activities undertaken to promote the buying or selling of a product or service.

Marketing strategy

Planned, coordinated, and executed activities to achieve business goals.

The 4Ps of Marketing

Product, Price, Place, and Promotion.

Product Strategies

Decisions on how to present and offer a product or service.

Packaging

Tool for strategic product marketing, including containment, preservation, brand identity, and messaging.

Labels

Displaying information and conveying product details.

Product offer Variants

Providing multiple choices to increase sales conversion.

Place/Platform

Ensuring access, availability, and quality delivery of the product to the customer.

Direct Sales

Producing and distributing products directly to customers.

Reseller Sales

Using a third party to reach a wider market.

Location, Location, Location

Importance of physical or digital location and access to customers.

Proximity Principle

The strategy of using locations to one's advantage by considering factors such as proximity to amenities and supplementing proximity.

Peak Hours/ Active Days

Identifying the best times when there is the most foot traffic or user traffic, and determining how to generate market activity during off-peak hours.

Contact

Being within reach of customers through various means such as phone, messaging, email, and emphasizing the importance of personal touch.

Pricing

The amount or payment that a customer is willing and able to pay for a good or service.

Price Strategy

The manner by which enterprises set prices consistent with their business objectives and appropriate for their target market.

Cost-based/ Mark-up Pricing

Setting prices based on the cost of goods sold and adding a mark-up to ensure profitability.

Competitive Pricing

Setting a price based on what the competition charges, applicable when products are closely identical and the market is highly competitive.

Value-based Pricing

Setting a price based on what the consumer is willing and able to pay, taking into account consumer feedback and perceptions.

Psychological Pricing

Setting prices to influence how customers perceive the value of a product or service, using techniques such as odd-end pricing and even-end/rounded pricing.

Promotions

Intensive business-to-market communications and activities for the purpose of consumer persuasion.

Advertising

Any paid and public presentation of products, services, and ideas through various traditional and digital media.

Traditional Advertising

Delivering promotional content through pre-internet media channels and on-ground activation.

Digital Advertising

Delivering promotional content through online and digital channels.

Display Ads

Online advertisements that combine text, images, and a URL to direct customers to a website.

Social Media Ads

Advertisements served to users on social media platforms based on user demographics and interactions.

Personal Selling

Using salespersons to actively convince customers to buy a product through person-to-person tactics.

Good Publicity & Public Relations

Creating a positive public image of the company's brand and maintaining goodwill through various events and activities.

Visual Merchandising

How products are visually showcased or presented in a store to attract customer attention.

Financial Plan

A thorough evaluation of a business's potential finances and expectations for the future, including a financial document detailing the business's circumstances and goals.

Start-up Budget

A financial statement covering start-up capital and expenses for the first year of business operations.

Start-Up Funding

The money raised to meet the costs of starting and operating a business, including investments, loans, and funding from various sources.

Start-Up Costs

All projected expenses and costs for business operations.

Fixed expenses

Costs that are paid once in a long-term period.

Monthly/variable expenses

Costs that are paid on a monthly basis and are subject to more frequent changes.

Break-even analysis

A financial calculation that determines the point at which a business becomes profitable.