ENTR200 Business Plan Requirements

Using Purdue's INVenture's web-based business planning tool (link below), teams will submit a summary busines plan for a new product or service. A one page conceptual outline of each team's new product or service is due in my hands by the Mid-Term exam. Results of your primary market research/concept testing is due at the same time. The final business plan will be in my hands by the last day of class. The last week of class, teams will be required to make a 90 second presentation to the class of their business plan in the form of an elevator pitch. Details of the pitch are provided elsewhere.

Teams are required to address, as completely as possible, all stages of the INVenture model which are outlined below.

The stages of the INVenture (formerly AICC Business Planner) are as follows: (Quoted from above reference by Ehmke & Boehlje, 2005)

"Stage 1. Fundamentals of Your Business: an initial review of the venture. This introductory stage requires a cross functional overview of the venture, including the primary motivation for beginning the venture, the product (or service) that is proposed, the customer identification and preliminary break-even calculation.

Stage 2. Analyzing Your Market: a detailed examination of the target market. Users complete a thorough review of the market and its characteristics, including an assessment of the competition.

Stage 3. Producing Your Product or Service: a broad-based inquiry into producing products and managing the venture. The venture management team is identified and profiled, production methods are outlined, ownership of the venture is reviewed and intellectual property issues are identified.

Stage 4. Marketing Your Product or Service: a rigorous inquiry into the marketing plan. The target customer is profiled, and the components of a complete marketing plan are developed in depth, including the product definition and bundle, the pricing plan, the distribution methods and promotion efforts.

Stage 5. Financial Analysis of Your Business: the creation of forecasted financial statements. Estimations of operating revenue and expenses, capital outlays, financing and required rates of return are constructed.

Stage 6. Executive Summary: a focused review of the venture. An overview of the venture is written."

Your submission is to be a BUSINESS PLAN SUMMARY using the above guidance.
Your team’s Business Plan Summary should aim to be a powerful 10-15 page document that covers the most important highlights of your business or business concept. Note: The Summary IS NOT a full-blown business plan. However, it follows the same logical format and guidance from Chapter 9 in the textbook and above. This document is often a valuable tool for start-up and early stage ventures who:

Are still in the preliminary stages of developing a detailed understanding of their business, yet require a document that will enable them to immediately begin meeting with potential investors, partners and management candidates before developing a full-length business plan or financial projections.

Wish to qualify investors, strategic partners or management recruits before presenting a comprehensive business plan.

Your Team’s Summary should cover the key points of your business or business concept as outlined in the INVenture link reference.

Additional Requirements: [All “A” plans MUST include 1-8 below]

1. In conducting competitive analysis, you are required to use a table/matrix to make comparisons.

2. Graphical analysis of data is required.

3. Include small photos of the founding team in the management section. Think color; think different.

4. You are required to incorporate the results of your team’s Primary Market Research/Concept Testing into the Marketing Plan section of your Business Plan.

5. You are strongly advised to include the results of testing of your firm’s supporting web site mashup also.

6. You are required to consider sales per employee in the financial section of your plan.

7. You are required to cite the source of all references used in your plan, either as an Appendix, or in the body.

8. You are required to have a “Call For Action” as the last statement in your Executive Summary so the reader knows what you want/need to execute the plan.

INVenture here: https://www.agecon.purdue.edu/planner/login.asp