Jan 14

Preparing a Business Plan Part 6

BRINGING IT ALL TOGETHER!

Now that you have the bulk of your plan made, it is time to put it all together.  Here is a list to get your plan ready to take to your potential investors (perhaps your teacher will invest a high mark in your business plan).

·        First you will need to create a “cover sheet” for your plan.  This should include: The name of the company, name of owner(s) and there addresses/phone number, as well as the date.  It CAN include a logo, letterhead, or a picture representing yourself or your company.

·        Next write a “cover letter” IN CORRECT BUSINESS FORMAT.  The letter should briefly describe the business (type of ownership, service based/product based etc) and its potential for PROFIT.  If you need to borrow money, you must state how much money you need to borrow in the cover letter. 

·        Now it is time for the “executive summary”.  This is where you write a summary of what is in your business plan. You may be a bit repetitive in the cover letter and executive summary but the executive summary is more in depth. Where it is located, how big etc.  There is a sample executive summary on page 120 in your textbook. 

·        Before you put your plan all together, go through parts 1-4 and make any changes necessary.  (look at the written comments from the teacher or ask for help).  When you are satisfied that all is well, reprint each of the assignments. 

·        Now you need a Table of Contents listing all of the pages and information that is in the business plan.  (The cover sheet is page 1, include the table of contents as a page)

·        Now you are ready to put it all together.  The best way is to use a portfolio or a duo tang with a clear cover.  If you do not have one.  You may staple it together and put it in some kind of plastic cover.  (Remember proper business stapling!)

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GOOD JOB!!! You’re ready to take your business plan to Mr. Southwell or your investors!!

DUE FRIDAY NEXT FRIDAY!!  No lates will be accepted.  

Please hand in the Pursuit of Happyness handout

Next, a game on supply and demand.

Please make sure all business plans parts are in by the end of Friday!!!!

Commercial day, Dragons Den

Notes on Marketing

Preparing a Business Plan Part 5

It’s all about Marketing! 

Now you are getting close to opening you business.  Remember, you have $150,000 but you will probably need to obtain more money through financing.  This is the last part of your business plan and then you will be ready to put it together. 

Task One:  4 P’s

You are to create a chart describing the 4 P's for your company

Product (what do you sell)

Price (what is the price range)

Place (where can customers buy)

Promotion (how will you promote your brand)

Task Two: Marketing Strategies/Plan

Write a brief overview of your marketing plan.  How will you advertise, where, when?  What advertising strategies will you be using? The advice your marketing professional gave you will come in handy here.

Task Three: Create an Advertisement

You are to create a advertisement for your company:  For this you may use the advertisement created for you by your Marketing professional or create your own.  You may also choose to do both.   

Task Four:  Compare your competitions Marketing Plan

 You are to find at least 5 advertisements from you direct competition.  What is common with the ads?  What advertisings strategies are they using?  What are their strengths? What are their weaknesses?    Can you ‘copy’ any of their advertising strategies?  What have you learned from looking at your competitors?

IMPORTANT:  Remember that you will use this information again for your FINAL BUSINESS PLAN, so save it and keep your work

Jan 4

Welcome BACK!!

Time to get in missing assignments, we only have 3 weeks left!

Today, if you check your stocks, you will probably notice that they are down?  The question is why?

Using the following LINK, in paragraph form explain why global stock markets are down in general (individual stocks may be up but on an overall average, they are down).