Manchester Science Enterprise Centre The Format: I.Summary II.Business Overview III.Product or Service IV.Market Opportunity V.Management Team VI.Operational Details VII. Financial Analysis

Manchester Science Enterprise Centre Summary – What you need to ask yourself: What is special about it? What is this business about? Make me want to read on further…

Manchester Science Enterprise Centre Summary – What you should cover: What is your business idea or concept? What is your USP (your competitive advantage)? What is your market? Who are your target customers? Estimated year of breakeven profitability Three years of estimated revenues Your funding requirements

Manchester Science Enterprise Centre Business Overview – What you need to ask yourself: What is the ‘mechanism’ of your business? How does it make money?

Manchester Science Enterprise Centre Business Overview - What you should cover: Company description and business model Value proposition – financial Vision Current status Current of committed funding and all funding sources

Manchester Science Enterprise Centre Product or Service – What you need to ask yourself: What problem are you solving for me? Why should I buy your product/ service? What features does the product have and why?

Manchester Science Enterprise Centre Product or Service – What you should cover: Define and describe the problem (technical descriptions should go in the appendix) How you will solve the problem Why the product or service is unique or distinct Description of a working model or prototype (if appropriate) How the products or services will be developed (if appropriate) Intellectual Property issues if applicable

Manchester Science Enterprise Centre Market Opportunity – What you need to ask yourself: Who will buy the product? Why will they buy it?

Manchester Science Enterprise Centre Market Opportunity – What you should cover: Why this is a great idea Brief survey of the competition (who are your competitors and why the problem is not being solved by them) Market size, analysis and forecast Industry analysis and forecast Identification of customers How will you sell and how will you establish a price?

Manchester Science Enterprise Centre Management Team – What you need to ask yourself: Who are the key people? Why do you need these skills?

Manchester Science Enterprise Centre Management Team – What you should cover: Key management with details of industry experience, education etc. Board of advisors (a critical point as this can augment team experience If there are obvious weaknesses in your management how do you propose to deal with them

Manchester Science Enterprise Centre Operational Details – What you need to ask yourself: What are the main functional parts of the business?

Manchester Science Enterprise Centre Operational Details – What you need to cover: Where will the business be based? What facilities will be needed? (equipment, IT etc.)

Manchester Science Enterprise Centre Financial Analysis – What you need to ask yourself: What assumptions have you made? How much money is needed? How much money will be made? Justify: where did you get these numbers from?

Manchester Science Enterprise Centre Financial Analysis – What you should cover: Outline overall financial model with detailed projections through to Year 3 Pro forma cash flow and budget analysis Other analysis, as appropriate (i.e. break even analysis) What are the principal risks which could affect your plans Discuss assumptions and capital requirements including how you will use the prize money

Manchester Science Enterprise Centre Further Reading The New Business Road Test Mullins, J.W., Prentice Hall, ISBN TSB Lloyds Small Business Guide Williams, S., Vitesse Media plc ISBN