Entrepreneurship

Clear and concise description of an
opportunity
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4 Elements:
◦
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◦
◦

The
The
The
The
product/service and features
customer
benefit
distribution
Purpose: to focus your thinking and begin the
Business Planning process

A distinctive aspect, quality or characteristic
of a product or service


Demographic of people that you are trying to
reach and sell to
Done thru:
◦
◦
◦
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Marketing
Advertising
Word of mouth
Reputation

Something that promotes or enhances the
value to the customer
◦ Example: convenience, good deal

How can you get your product/service to your
customers
◦
◦
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Retail store
Wholesale – selling to retail stores
Mail order
Online
Door-to-door delivery

Eastside Sports offers sporting equipment
and apparel to local teams and to people who
play sports. It provides the convenience of
one-stop shopping at a retail outlet in the
customer’s own neighborhood.
◦ Lower East Side, Manhattan, New York City

The process used to test a business concept
◦ Does it have potential to sell?
◦ Is there enough demand?
◦ What are my margins?
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Industry
Competitive Grid
Prototype
Target Customers
Business Model
Entrepreneurship

a document that describes a new business
and a strategy to launch the business


It contains several sections and is written with
great detail
People that you would like to read your
business plan would include:
◦
◦
◦
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Investors
Bankers
Potential Management
Partners

Emphasize key points that will persuade the
reader of the value of your Business Concept
1.
Executive Summary
2.
Management Team Plan
3.
Company Description
4.
Product & Service Plan
5.
Mission & Vision Statements
6.
Industry Overview
7.
Market Analysis
8.
Competitive Analysis
9.
Marketing Plan
10. Operational Plan
11. Organizational Plan
12. Financial Plan
13. Growth Plan
14. Contingency Plan
15. Cover Page
16. Title Page
17. Table of Contents
18. Supporting Documents

a brief recounting of the key points contained
in a Business Plan