New Venture Creation

Bonus Material:
Doing Well and SWOT Analysis

Centre for Innovation

& Entrepreneurship
 Doing well: the business plan I

• This is not a standard academic report!

• You are selling an idea. Keep the messaging clear and simple.

• You need academic integrity BUT we don’t want to see references to models
and theories in the plan – just appropriate application.

• Use the appendices to discuss which models you used and why.
 Doing well: the business plan II
• The venture plan should provide comprehensive coverage of critical
components which would be expected in a venture/business plan, including:

▪ Executive summary: to include key points from the sections below.

▪ Product / service description.
▪ Value proposition and business model.
▪ Market / external environment analysis.
▪ Operating considerations.
▪ Key objectives and strategies.
▪ Financial forecasts and risk analysis.
▪ Funding strategy.
▪ Management team and support network.
▪ Appendices, to include detailed financial projections and supporting
evidence.
 Doing well: the business plan III
• The marking criteria are focused on really how you cover the elements of the
venture plan with regard to:

▪ Evidence & Analysis

▪ Planning & Methodology

▪ Presentation & Communication

More details in the assessment brief on BB.

 Doing well: getting top grades

• We mark purely on achievement against a

marking criteria.
• Every one of you could get over 70% in this unit.
We do not use mark quotas etc.

• However, you will have to use your imagination

and make persuasive arguments at every stage
of this unit.
• We do not respond well to mindless box ticking
exercises…
 SWOT analysis

SWOT analysis can be used for many different

applications. E.g.
• company (market position, commercial viability, etc)
• product or brand
• business idea
• a strategic option, such as entering a new market or
launching a new product
• an investment opportunity

Must be used properly to be effective.

Be aware of its limitations.

SWOT analysis – our venture idea (internal factors)
Strengths
• Advantages of proposition?
• Capabilities?
• Competitive advantages?
• USP's (unique selling points)?
• Resources, Assets, People?
• Experience, knowledge, data?
• Financial reserves, likely returns?
• Marketing - reach, distribution, awareness?
• Innovative aspects?
• Location and geographical?
• Price, value, quality?
• Accreditations, qualifications, certifications?
• Processes, systems, IT, communications?
• Cultural, attitudinal, behavioural?
• Management cover, succession?
BusinessBalls
Weaknesses
• Disadvantages of proposition?
• Gaps in capabilities?
• Lack of competitive strength?
• Reputation, presence and reach?
• Financials?
• Own known vulnerabilities?
• Timescales, deadlines and pressures?
• Cashflow, start-up cash-drain?
• Continuity, supply chain robustness?
• Effects on core activities, distraction?
• Reliability of data, plan predictability?
• Morale, commitment, leadership?
• Accreditations, etc?
• Processes and systems, etc?
• Management cover, succession?
SWOT analysis – our venture idea (external factors)
Opportunities
• Market developments?
• Competitors' vulnerabilities?
• Industry or lifestyle trends?
• Technology development and innovation?
• Global influences?
• New markets, vertical, horizontal?
• Niche target markets?
• Geographical, export, import?
• Market need for new USP’s?
• Market response to tactics, e.g., surprise?
• Major contracts, tenders?
• Business and product development?
• Information and research?
• Partnerships, agencies, distribution?
• Market volume demand trends?
• Seasonal, weather, fashion influences?
BusinessBalls
Threats
• Political effects?
• Legislative effects?
• Environmental effects?
• IT developments?
• Competitor intentions - various?
• Market demand?
• New technologies, services, ideas?
• Vital contracts and partners?
• Obstacles faced?
• Insurmountable weaknesses?
• Employment market?
• Financial and credit pressures?
• Economy - home, abroad?
• Seasonality, weather effects?