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BUS 350 (Mom) Small Business Management and Entrepreneurship

BUS 350 (Mom) Small Business Management and Entrepreneurship

Welcome

The library provides specialized resources that you can use to research your topic. Use this guide as a reference while you do your research.

Your Assignment

Business Plan Essay and "Money Pitch" Presentation

Students are to write a short business plan that lays out the proposals made in the "Money Pitch Presentation" at the end of the semester.  The business plan will include the following elements:

  • Mission Statement
  • Company/Product description (1-2 pages)
  • Market Analysis (1-2 pages)
  • Marketing Plan (1-3 pages)
  • Income Statement/Budget...including how much money will be necessary to launch and sustain the idea for the first three (3) years. (template provided)

Students shall submit the essay using the (see link on D2L) American Psychological Association (APA) format. All essays will be typed double space in font no smaller than 10 pts and no larger than 12 pts. Margins will be no more than 1 ¼ inches on each side and 1 inch at top and bottom.  Preferred fonts include Arial, Calibri and Times New Roman.  A 2 page assignment will be no less than 1 1/2 pages and no more than 2 full pages.  The same standards apply to larger essays.  I am glad to work with students regarding this assignment…please feel free to ask questions regarding any confusion.

“Money Pitch” Presentation

Students may present in whatever fashion they wish.  All presentations will require some sort of multi-media.  This can be accomplished through a PowerPoint slide presentation and/or some type of visual handout for the entire class.  The presenter should set the presentation as if they are presenting to a potential business partner or a financier.  Students in audience are encouraged to ask questions of presenters.  Presentation must be NO LONGER than five (5) minutes in length.  With this time limit in mind, the presenter must focus on what he/she believes will “sell” the investor.  This presentation is based on the style of presentation shown on the popular TV show Shark Tank.  The presentation is worth 100 points.

External Market Analysis Section

BUS 350 – External Market Analysis – Phase II

Please research, write and submit a paper that details the following material regarding your new business idea. As we are learning, knowing the marketplace is extremely important to business owners. Let's find out what this market holds for your idea. There is no limit regarding length of this assignment. The expectation is that you will conduct and organize some research and share it with all of us.

External Market Analysis

The market analysis section of your business/marketing plan should illustrate your industry and market knowledge as well as any of your research findings and conclusions. This section is usually presented after the company description.

What to Include in Your Market Analysis

Industry Description and Outlook – Describe your industry, including its current size and historic growth rate as well as other trends and characteristics (e.g., life cycle stage, projected growth rate). Next, list the major customer groups within your industry. Information About Your Target Market – Narrow your target market to a manageable size. Many businesses make the mistake of trying to appeal to too many target markets. Research and include the following information about your market:

Distinguishing characteristics – What are the critical needs of your potential customers? Are those needs being met? What are the demographics of the group and where are they located? Are there any seasonal or cyclical purchasing trends that may impact your business?

Size of the primary target market – In addition to the size of your market, what data can you include about the annual purchases your market makes in your industry? What is the forecasted market growth for this group? For more information, see our market research guide for tips and free government resources that can help you build a market profile.

Pricing and gross margin targets – Define your pricing structure, gross margin levels, and any discount that you plan to use. When you include information about any of the market tests or research studies you have completed, be sure to focus only on the results of these tests. Any other details should be included in the appendix.

Competitive Analysis – Your competitive analysis should identify your competition by product line or service and market segment

SWOT Analysis - Strengths - Weaknesses - Opportunities - Threats

Your Textbook