STARTING A BUSINESS – CONSIDER ENTREPRENEURSHIP Principles of Money, Banking and Financial Markets Integrative 综合 (Zònghé) Team Project Fall 2015 STARTING A BUSINESS – CONSIDER ENTREPRENEURSHIP

FINANCE 2 TEAMS Team 1 – Dylan, Amanda, Colin, Savannah Team 2 – Tate, Daniel, Erin, Samantha Team 3 – Nancy, Nikolas, Charlotte, Jane Team 4 – Nikita, John, Hannah, Kai Team 5 – Alice, Vivian, Zark, Carey Team 6 – Claire, Max, Shari, Ivy, Team 7 – Connor, Natalie, Alyssa, Renee Team 8 – Kathy, Ellie, Kimberly, Easton Team 9 – Sarah, Levi, Logan, Emma, Karin Team 10 – Ann, Athira, Umi, Laila

FINANCE 1 TEAMS Team 1 – Carol, Jason, Betty, Winter Team 2 – Kira, Sid, Tanya, Windy Team 3 – Josie, Claus, Elin, Amy Team 4 – Shania, Crystal, Jolia, Edward Team 5 – Isabella, Gregory, Conan, Eva Team 6 – Belle, Barry, Belinda, Paige Team 7 – Haley, James, Abigail, Emilia Team 8 – Lani, Ezreal, Irelia, Emma Team 9 – Michael, Ann, Sandy, Easton

Starting your own business can take time, energy, talent and money Starting your own business can take time, energy, talent and money. The initial investment is risky, but consider the rewards—working for yourself and pursuing your dreams. The purpose of this integrative project is to take the first step of realizing your dream – writing a business plan.

The first step is for your team of 4 or 5 students to choose a business. The business can provide a service or deliver a product. Some examples include: Retail – Consumer products Food & Beverage – Store, restaurant or wholesaler Manufacturer (Maker) of a product Internet or Communications Service Businesses – Cleaning, school, day care, tutoring, home repairs, car repair, consulting, web-site design

The second step is for your team of 4 or 5 students to choose a leader and then choose other roles for your team, such as media expert, lead researcher, financial specialist, creative consultant. The first and second steps should be turned in to your instructor by November 16. The team leader will be responsible for handing in all written communications.

The THIRD STEP and the goal of this project is to write a comprehensive 全面 (Quánmiàn) BUSINESS PLAN. According to studies, less than half of all new businesses in America last more than 2 years. Two reasons are lack of experience and failure to plan. It has been said, “those who fail to plan, plan to fail!!”

Other dates to keep in mind: November 30 - Progress Other dates to keep in mind: November 30 - Progress report #1 December 14 – Progress report #2 (draft paper) December 21 – Due date for power point and final hard copy.

This power point can serve as a template or example for you but I encourage you to let the media expert on your team create a power point that fits your company image. Your instructor will be adding more details for you to use in developing your plan.

Company Name Business Plan

Mission Statement Clearly state your company’s long- term mission. Try to use words that will help direct the growth of your company, but be as clear as possible.

The Team List CEO and key management by name. Include previous accomplishments to show that these are people with a record of success. Summarize number of years of experience in this field.

Market Summary Summarize your market in the past, present, and future. Review those changes in market share, leadership, players, market shifts, costs, pricing, or competition that provide the opportunity for your company’s success.

Opportunities Identify problems and opportunities. State consumer problems, and define the nature of product/service opportunities that are created by those problems.

Business Concept, Product or Service Summarize the key technology, concept, or strategy on which your business is based.

Summarize the competition. Outline your company’s competitive advantage.

Goals and Objectives List five-year goals. State specific, measurable objectives for achieving your five-year goals. List market-share objectives. List revenue/profitability objectives.

Financial Plan Outline a high-level financial plan that defines your financial model and pricing assumptions. This plan should include expected annual sales and profits for the next three years. Use several slides to cover this material appropriately.

Resource Requirements List requirements for the following resources: Personnel Technology Finances Distribution Promotion Products Services

Risks and Rewards Summarize the risks of the proposed project and how they will be addressed. Estimate expected rewards, particularly if you are seeking funding.

Key Issues Near term Identify key decisions and issues that need immediate or near-term resolution. State consequences of decision postponement. Long term Identify issues needing long-term resolution. If you are seeking funding, be specific about any issues that require financial resources for resolution.