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CISB 334 E-Business BUSINESS PLAN
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What is Business Plan ? A document that provides a framework for testing the business from conception through early development to capitalized on strengths, compensate for weaknesses, and serve as a resume for potential investors.
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CONTENT OF BUSINESS PLAN Executive Summary Business Description Market Analysis Overall (effort, creativity)
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Executive Summary Synopsis of the key points of the entire e-business plan. Purpose : Explain the fundamentals of the business in a way that both informs and excites the reader. Length : Short.
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Executive Summary (cont.) Content : Company mission statement and company description The management The competition The market and customer Product / service Marketing and sales Operations
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Business Description Describes the nature and purpose of the business. Includes : firm’s mission statement, goals, value proposition, and description of products and services. Purpose : To objectively explain and justify business idea in a positive and enthusiastic manner.
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Business description (cont.) Includes 2 sections :- Business concept section. Product and services section.
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Business Description (Business Concept Section) Industry analysis : a group of business that manufacture, distribute, or sell similar product or services. Mission Statement : declaration of what a business aspires to be.
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Business Description (Business Concept Section) Business goals : Clearly describes actions to be taken or task to be accomplished by a company. Business model : The business model your proposed business follows, such as virtual merchant, community portal, etc.
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Business Description (Product and Services Section) Complete enough to give the reader a clear idea of the products/services. If the product is unusual or not easy to described, include a picture or drawing. The description should tell the reader what makes your company’s product / services unique in the marketplace. Benefit to customer from purchasing the product or services.
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Market Analysis Target market : who are the customers? We will be selling primarily to private sector (%), wholesalers (%), retailers (%), government (%), user (%), others (%). How will we be targeting customers? : product line, geographic area, etc. How much our selected market spend on the type of product / service offered this coming year ?
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Market Analysis (Cont.) Competition Who are the competitors : name, address, year in business, market share, price/strategy, product/services features. How competitive is the market ? High, medium, low. Our strengths and weaknesses (location, reputation, personnel, etc.)
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Market Analysis (Cont.) Environment Important economic factors that will affect the product/ services. Example industry growth, economic trends, taxes, rising energy prices, etc. Legal factors that will affect the market. Government factors that will affect the market. Etc.
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Market Analysis (Cont.) Marketing strategies Image :- cheap, exclusiveness, customer oriented, convenience, speed, etc. Features Pricing Customer service provided. Advertising and promotion (sources)
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Links Example business plan: http://www.brs- inc.com/plans.org/mootcorp.html http://www.sb.gov.bc.ca/smallbus/worksho p/sample.html
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