Entrepreneurship

Learning outcomes:

• Describe the features of a business plan.

• Discuss the purpose of the business plan.
• Explain how a business plan determines
the idea is potential for success.
What is a Business Plan?
What is a Business Plan?
• a detailed proposal that describes a new business.
• a written document which defines your business whether it is a
single proprietorship, partnership or corporation.
• it describes the experiences and talents of those who are
starting the business.
• the details of the financial plan.
• it identifies your goals and serves as your enterprise resume.
• it helps you allocate resources properly, handle unforseen
complications and make the right decisions.
Three primary purposes;
1.To serve as an action plan.
2.To serve as a road map.
3.To serve as a sales tool.
Reasons for writing the Business Plan
• To convince oneself that the new venture is worthy before
making a significant financial and personal commitment.
• To assist management in goal-setting and long-range
planning.
• To attract investors and get financing.
• To explain the business to other companies with which it
would be useful to create an alliance or contract.
• To attract employees.
A Business Plan can help an entrepreneur
• to allocate resources appropriately, handle unexpected
problems, and make good business decisions.
• helps shape original vision into a better opportunity by
raising critical questions,researching answers for those
questions and then answering them.
• is an essential part of any loan application as it will
specify how the business would repay any borrowed
money.
Basic Parts of a Business Plan
1. Company Description
2. Mission Statement of the Business
3. Long and Short term Goals
4. Organization (Organizing, Controlling and Directing)
5. Product (or Service)
6. Price
7. Promotion and Positioning
8. Target Market
9. Competitive Analysis
10.Financial Information
11.SWOT Analysis
12.Timetable
1. Company Description
• The location of the business and the kind
of ownership or the legal structure of
the business.
2. Mission Statement of the Business
• a formal summary of the aims and values
of a company, organization, or individual.
3. Long and Short –Term Goals
• Long-term goals for business are the high-level goals of your strategy that you
aim to achieve in the next 3-5 years or even longer.

• Short-term goals are the goals that you want to accomplish soon, usually within
a year.
4. Organization (Organizing, Controlling and Directing)
• What is the organizational set-up?
• Who is in-charge of each department
• What are the task of each employee?
• What are your operational procedures?
5. Product or Service
• What are the goods you are going to
produce or services you are going to
render to create revenue for the
business?
6. Price

• What is the selling price of your

product or service?
7. Promotion and Positioning
• What are the strategies in promoting your
product or service?
• What kind of branding and advertising you
need to take to create sales of your product
or service?
• What is your unique selling proposition?
8. Target Market
• Who is your primary and secondary
target market?
• How are you going to reach your
market?
9. Competitive Analysis
• Who will be your direct and indirect
competitors?
• How this competitors perform in the
market?
10. Financial Information
• How much capital you need to create a
revenue?
• What are your expenses and projected
sales?
11. SWOT Analysis
• What are the strenghts, weaknesses,
opportunities and threats of the company?
• How do we overcome the weaknesses and
threats?
• How to we maximize the strengths and
opportunities?
12. Timetable
• When are you going to implement the
plan?
• What is the schedule for organizing,
marketing , production and other
activities?
12. Timetable
• When are you going to implement the
plan?
• What is the schedule for organizing,
marketing , production and other
activities?
 Activity No. 2

Instruction:
Oral recitation of the 12 basic parts of the
business plan