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SESSION 8: INTEGRATING AND CONTROL

This program guides participants in creating a structured business plan over ten weeks. Each week focuses on crucial topics including entrepreneurship, idea development, marketing, financial assessment, and risk management. Participants will learn to analyze their business vision, define their product/service offerings, evaluate competitors, and design effective marketing strategies. The course culminates in a detailed plan that integrates all components, along with guest speaker insights. Ideal for aspiring entrepreneurs looking for comprehensive guidance to launch their business successfully.

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SESSION 8: INTEGRATING AND CONTROL

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  1. SESSION 8: INTEGRATING AND CONTROL

  2. TOPICS COVERED Participants will produce a formal business plan that will include a component of each of the following: Week 1: Introduction Week 2: Entrepreneurship Week 3: Idea development Week 4: Marketing Week 5: Competitors and Organisational and legal structure Week 6: Technical developments and Risk assessment Week 7: Finance Week 8: Integrating and control Week 9: Guest speakers Week 10: Summary

  3. CONTACT DETAILS SURGERY HOURS On Request

  4. Part 1

  5. Introduction/Executive summary • A brief summary of the whole business plan • It must be eye/attention catching • This is normally the last paragraph you write • Logical sequence: • Broad background/trends • Which resulted in your specific product/service idea • Your vision for the product/service • The uniqueness • The purpose of the business plan

  6. Brief description of your business • Name of the business • Address • Fax number; Telephone number; Mobile number; E-mail address • Contact person • When the organisation was started • Vision/mission of the organisation • Products/services that the organisation provides

  7. Your product or service • Product/Service • Aim of product/service (characteristics of customers and what needs are addressed) • Unique characteristics of product/service • Technology required to deliver/produce product/service • License/Patent needed to develop/sell product/service • Future potential of product/service • Competitors and their strengths and weaknesses

  8. Organisation structure • Describe the number of staff, their roles, experience and training required • List the consultants/advisors that will be used • Legal structure

  9. Sales and marketing • Pricing of product/service (indicate how calculated) • Promotion (e.g. advertisements, social media instruments) • Location and why • Special activities to sell product/service

  10. Business operations • The production process • The capacity of the production process • Equipment necessary in the production process • What will happen in case of breakdowns • Describe the premises and location

  11. Financial considerations •  Financial requirements   • Item • Source of funding • Price of item • Guarantees • When required • Deals on offer • Expenses budget • Break-even • Cash flow analysis • Income statement • Balance sheets

  12. Risks • What are the biggest risks • How will you manage it

  13. Summary • End in a positive sentence • Indicate that you are eager to implement idea

  14. References • Need at least 6 references • Must be indicated in the text as well • Can include: reference books; web sites; newspaper articles; interviews

  15. Useful Resources You can download workbooks, spreadsheets and examples at : • http://www.businesslink.gov.uk • Home > Finance and grants > Cash flow > Financial and management accounts: the basics • http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1073869162

  16. Part 2

  17. Introduction • The purpose of this assignment (to analyse another’s business plan, use that as reflection to improve own skills) 

  18. Description of peer's business idea • The person • The business • The idea 

  19. Lessons learned •  What have you learned from that business plan? • Are there any solutions you would consider implementing yourself? • What would you do differently?

  20. Your reflection about self-employment • Will you be able to create your own employment? • Motivate your answer 

  21. Own development needs •  What are your development needs with regards to starting a business? • How can you work on those needs and improve?

  22. Summary • Summarising what you have learned from this assignment

  23. References • At least 5 references

  24. Exercise • For the next session analyse the business plan for LIGHT-GUARD MANUFACTURING LTD. • following business plan and indicate: • What are good • What needs additional attention • http://www.ncge.com/communities/education/reference/search/basic/Business%20plan/5

  25. ANY QUESTIONS?

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