01 Oct NEW BUSINESS VENTURES AND ENTREPRENEURSHIP New Venture – Game Plan
NEW BUSINESS VENTURES AND ENTREPRENEURSHIP
New Venture – Game Plan
OVERVIEW
Throughout this course you will develop a plan to design and implement a new product or service. You have three options, depending whether you identify as an Intrapreneur, an Entrepreneur, or a Nonprofit leader. Your first step is to select or develop an innovative “big idea” for ONE of the options below:
Option A – Intrapreneur
Choose a product or service that could be added to your organization’s portfolio. You may use your current company or another company that interests you. The Resource in your Assignment 1 Resources titled Models of Intrapreneurship describes several models for intrapreneurial initiatives that you can consider for your venture.
Option B – Entrepreneur
Identify one business idea that you could launch as a start-up business. The Resource in your Assignment 1 Resources titled Organizational Chart Template provides a template for the structure of your new business. Use the source below to research business ideas: Research Source: https://www.entrepreneur.com/businessideas
Option C – Nonprofit
Identify a nonprofit idea that will serve a community. The Resource in your Assignment 1 Resources titled NPO Organizational Chart Template provides a model for the structure of your new community organization.
Use the source below to learn about creating a nonprofit organization: Research Source: https://www.usa.gov/start-nonprofit
INSTRUCTIONS
For Assignment 1, you will write a Game Plan paper, in which you describe your innovative “big idea”, craft your vision for its implementation, and assess the idea’s strengths and weaknesses, as well as the major opportunities and threats in the market. Your paper will be 3 to 4 pages long. NOTE: When writing a business plan, avoid the use of first person; use the name of the company instead.
For this first assignment, you will complete Sections II, III, and IV of your Business Plan. These are the sections in the template titled: Company Description, New Product or Service Idea, and SWOT Analysis.
Follow ONE of the three Options below, depending if your new venture is to be added to an existing business (Intrapreneur), launched as a start-up (Entrepreneur), or founded as a nonprofit organization (NPO). Make sure you work with the template that matches your chosen Option.
Option A – INTRAPRENEUR
COMPANY DESCRIPTION
Briefly describe your Company, including the Subsidiary or New Initiative you plan to present for that company:
o Provide a brief overview of the parent company.
o Describe your new Initiative or Subsidiary for the existing company, including an identifier (or name) for your idea and where it fits into the company structure.
o Provide an Organizational Chart that shows the positions that will need to be filled. Use the Organizational Chart template in your Assignment 1 Resources.
o What is the mission for your new initiative? How does the new initiative/subsidiary align with the existing company?
NEW PRODUCT OR SERVICE IDEA
Describe your New Product or Service idea, by answering the prompts below:
o What is new and unique about your product or service?
o What customer needs or desires does it satisfy?
o What is the value proposition – i.e., why would someone buy your product or service?
Include key resources and key activities.
SWOT ANALYSIS
Explain the Strengths, Weaknesses, Opportunities, and Threats for your idea, using the prompts below:
o Why is this the right time to implement this new business or venture?
o What is distinctive, disruptive, and/or innovative about your product or service?
o Include a SWOT Analysis. Use either the SWOT template or the SWOT Worksheet provided in your Assignment 1 Resources.
o Provide a detailed explanation of each SWOT quadrant.
Option B – ENTREPRENEUR
COMPANY DESCRIPTION
Briefly describe the Start-up Company that you propose to create:
o What is the name for your new business?
o When will your start-up business launch?
o What will its mission be?
o How many staff will you need? Provide an Organizational Chart that shows the positions that will need to be filled. Use the Organizational Chart template in your
Assignment 1 Resources.
o How fast do you plan to grow?
o Where is your company based? Where does it or where will it do business?
NEW PRODUCT OR SERVICE IDEA
Describe your New Product or Service idea, by answering the prompts below:
o What is new and unique about your product or service?
o What customer needs or desires does it satisfy?
o What is the value proposition – i.e., why would someone buy your product or service?
Include key resources and key activities.
SWOT ANALYSIS
Explain the Strengths, Weaknesses, Opportunities, and Threats for your idea, using the prompts below:
o Why is this the right time to implement this new business or venture?
o What is distinctive, disruptive, and/or innovative about your product or service?
o Include a SWOT Analysis. Use either the SWOT template or the SWOT Worksheet provided in your Assignment 1 Resources.
o Provide a detailed explanation of each SWOT quadrant.
Option C – NONPROFIT
ORGANIZATION DESCRIPTION
Briefly describe the Nonprofit Organization that you propose to create:
o Where will your nonprofit be set up?
o Include 501c3 status. Use the source below to learn more about 501c3 status:
Research Source: https://smallbusiness.chron.com/501c3-corporation64124.html
o What is the mission?
o What is the vision?
o How many staff will you need?
o Provide an Organizational Chart that shows the positions that will need to be filled.
Use the NPO Organizational Chart template in your Assignment 1 Resources.
o How fast do you plan to grow?
NEW PRODUCT OR SERVICE IDEA
Describe your New Product or Service idea, by answering the prompts below:
o What problem does your nonprofit organization address?
o Who will benefit from your service?
o What communities will your nonprofit organization serve?
o What is the value proposition – i.e., why would someone support your organizational mission? Include key resources and key activities. Use the source below to learn about creating a nonprofit value proposition:
Research Sources:
https://www.irs.gov/charities-non-profits/exempt-organization-types
SWOT ANALYSIS
Explain the Strengths, Weaknesses, Opportunities, and Threats for your idea, using the prompts below:
o Why is this the right time to implement this new business or venture?
o What is distinctive, disruptive, and/or innovative about your product or service?
o Include a SWOT Analysis. Use either the SWOT template or the SWOT Worksheet provided in your Assignment 1 Resources.
o Provide a detailed explanation of each SWOT quadrant.
FORMATTING
§ Typed, double-spaced, using Ariel or Times New Roman font (size 11 or 12) with oneinch margins on all sides; references must follow JWMI Writing Standards format.
Check with your professor for any additional instructions.
§ Your Organizational chart and your SWOT Analysis may be included in the body of your document or placed at the end of your document in an Appendix.
§ Include a Cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date.
§ Include a References page to identify your sources.
Note: The Cover page, References page, and Appendix (if used) are not included in the required page length.
JWI575 NEW BUSINESS VENTURES AND ENTREPRENEURSHIP
Assignment 2
New Venture – Launch Plan
OVERVIEW
In this assignment, you will continue your research and planning to design and implement a new product or service. Based on the innovative “big idea” and the vision that you developed in
Assignment 1, you will now write a Launch Plan, in which you describe your launch strategy, business model, and financial plan.
INSTRUCTIONS
Write a Launch Plan Paper of no fewer than 4 pages. In this second assignment, you will complete the middle four sections of your Business Plan: Sections V, VI, VII and VIII in the template.
You will follow ONE of the three Options below, depending whether you are planning your new venture as an Intrapreneur, Entrepreneur, or Nonprofit Leader. Make sure you work with the template that matches your chosen Option.
Option A – INTRAPRENEUR
NEW CONCEPT LAUNCH STRATEGY
o What are the key objectives in this intrapreneurial proposal?
o What strategies would be used to meet those objectives?
o In what time frame would these objectives be met?
IMPACT ON THE BUSINESS MODEL
o Does the new product or service line fit within the current company’s mission, vision, and values? If not, does the mission, vision, or values need changing?
o How complementary is the new product or service line to the existing products or services of your company? What does the new line add that will benefit existing customers? How could it attract the interest of potential new customers?
o What licensing or regulations will you need to be aware of to operate your new product or service line?
REVENUE STREAMS
Represents the cash a company generates from each Customer Segment (costs must be subtracted from revenues to create earnings).
o For what do customers currently pay? (i.e., what are they buying from your competition?)
o How are customers currently paying? (i.e., subscriptions, contracts, cash)
o What are your revenue streams? (products, services, subscriptions)
§ How much does each Revenue Stream contribute to overall revenues?
(these will be the numbers that go into your income statement)
FINANCIAL STRUCTURE and COSTS
o Summary Income Statement: create a profit and loss statement summary by year and project the profit and loss data out three years. Use one of the Performance Spreadsheets in your Assignment 2 Resources.
o Provide a narrative describing the numbers in the Summary Income Statement and explain why the numbers are valid.
o Assuming the new product or service line is launched as part of the existing organization, can it be funded with existing capital? If not, what are the proposed source(s) of funding?
o If the decision was to create a new subsidiary (or joint venture), will funding come from the existing organization (or, if a joint venture, from existing organizations)? If not, what are the proposed sources of funding?
Option B – ENTREPRENEUR
NEW BUSINESS LAUNCH STRATEGY
o What objectives will you achieve if you get your funding?
o What strategies would be used to meet those objectives?
o In what time frame would these objectives be met?
BUSINESS MODEL
o What legal structure will be used for this business and why? Use the source below to learn about your different business structure options:
Research Source: https://www.sba.gov/business-guide/launch-yourbusiness/choose-business-structure)
o What licensing or regulations will you need to be aware of to operate your new business?
o What are the key activities needed to launch this business?
o What are the key resources and distribution channels – i.e., how will your customers access your product/service?
REVENUE STREAMS
Represents the cash a company generates from each Customer Segment (costs must be subtracted from revenues to create earnings).
o For what do customers currently pay? (i.e., what are they buying from your competition?)
o How are customers currently paying? (i.e., subscriptions, contracts, cash)
o What are your revenue streams? (products, services, subscriptions)
§ How much does each Revenue Stream contribute to overall revenues?
(these will be the numbers that go into your income statement)
FINANCIAL STRUCTURE and COSTS
o Summary Income Statement: provide a profit and loss statement summary by year and project the profit and loss data out three years. Use one of the ProForma
Spreadsheets or the SCORE Projections Template in your Assignment 2 Resources.
o Provide a narrative describing the numbers in your Summary Income Statement and explain why the numbers are valid.
Option C – NONPROFIT
NONPROFIT LAUNCH STRATEGY
o What are the key objectives in this nonprofit proposal?
o What strategies would be used to meet those objectives?
o In what time frame would these objectives be met?
ORGANIZATIONAL STRUCTURE
o What type or category of nonprofit organization do you plan to create?
Research Source: https://www.usa.gov/start-nonprofit
o What are the key activities needed to launch this organization?
o How will you identify the best targets for your initial outreach and projects?
o What licensing or regulations will you need to be aware of to operate your nonprofit?
OPERATIONAL STRATEGY
An operational plan describes how your nonprofit organization plans to deliver its communityfocused activities.
o How will you plan to manage and maintain your operations?
o What metrics will you use to evaluate the impact of your programs?
o What partners will you need to operate the nonprofit?
FINANCIAL and FUNDRAISING PLAN
o In fundraising, how will you achieve the levels of funding required to successfully carry out your mission or meet the objectives of a specific project?
o If you exceed your fundraising goals, what will be done with the surplus?
o What will you do if you don’t meet your fundraising goals?
o How much would be an appropriate amount to cover payroll and administrative costs over time?
o Create a spreadsheet to account for your funding needs. Use the Nonprofit Budget
Template in your Assignment 2 Resources. Three years of projections are required.
o Include a narrative explaining the numbers in the Nonprofit Budget spreadsheet
(e.g., How much would be an appropriate amount to cover payroll and administrative costs over time?)
FORMATTING
§ Typed, double-spaced, using Ariel or Times New Roman font (size 11 or 12) with oneinch margins on all sides; references must follow JWMI Writing Standards format.
Check with your professor for any additional instructions.
§ Your Summary Income Statement or Nonprofit Budget spreadsheet may be included in the body of your document or placed at the end of your document in an Appendix.
§ Include a Cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date.
§ Include a References page to identify your sources.
Note: The Cover page, References page, and Appendix (if used) are not included in the required page length.
JWI575 NEW BUSINESS VENTURES AND ENTREPRENEURSHIP
Assignment 3
New Venture – Final Business Plan
OVERVIEW and FINAL BUSINESS PLAN OUTLINE
Your deliverable for Assignment 3 is your Final Business Plan. It will include content from Assignments 1 and 2, with revisions based on your professor’s feedback, as well as content from Assignment 3. The chart below shows how all your assignments fit together to create your Final Business Plan
FINAL BUSINESS PLAN OUTLINE
Option A – INTRAPRENEUR Option B – ENTREPRENEUR Option C – NONPROFIT CONTENT
created in:
I. Executive Summary* I. Executive Summary* I. Executive Summary* Assignment 3
II. Company Description II. Company Description II. Organization Description Assignment 1
III. New Product or Service Description III. New Product or Service Description III. New Product or Service Idea Assignment 1
IV. SWOT Analysis IV. SWOT Analysis IV. SWOT Analysis Assignment 1
V. New Concept Launch Strategy V. New Business Launch Strategy V. Nonprofit Launch Strategy Assignment 2
VI. Impact on the Business Model VI. Business Model VI. Organizational Structure Assignment 2
VII. Revenue Streams VII. Revenue Streams VII. Operational Strategy Assignment 2
VIII. Financial Structure and Costs VIII. Financial Structure and Costs VIII. Financial and Fundraising Plan Assignment 2
IX. Growth Strategy IX. Growth Strategy IX. Impact Plan Assignment 3
X. Management Team and Key Roles X. Management Team and Key Roles X. Leadership Team and Key Roles Assignment 3
XI. Marketing Plan XI. Marketing Your Brand XI. Marketing Analysis Assignment 3
ASSIGNMENT 3 INSTRUCTIONS
In this assignment, you will complete the final three sections of your Business Plan: Sections IX, X, and
XI. Then, you will write your Executive Summary. This section will be placed at the start of your paper, but it is written last because it is an overview of the whole Business Plan.
You will follow ONE of the Options below, depending whether your Business Plan is for an Intrapreneur, Entrepreneur, or Nonprofit Leader. Be sure to work with the template that matches your chosen Option.
Option A – INTRAPRENEUR
EXECUTIVE SUMMARY
o Write an Overview of one page, presenting the key points of the overall Business Plan. Address all sections of the plan in Summary fashion. This should include something from every section.
* Note: the Executive Summary is the first section in your paper, but it is the last section you will write. This works best because the Executive Summary provides an overview of your entire Business Plan.
GROWTH STRATEGY
o Describe your strategic position in the market and what differentiates the products or services you plan to sell.
o How will you develop a loyal customer base for the products or services you sell?
o How fast will you grow? Where and how do you believe you can expand your business?
MANAGEMENT TEAM and KEY ROLES
o Provide a list of the key management roles that will need to be filled.
? Resource: https://www.onetonline.org/
o For each key role, specify what the requirements for the roles include.
MARKETING PLAN
o Provide a detailed marketing plan. Be sure to include both Promotions Strategy and Marketing Strategy.
o In your plan, show how you will incorporate “The Four Ps of Marketing.” For information on this concept, refer to The Four Ps of Marketing document in your Assignment 3 Resources
Option B – ENTREPRENEUR
EXECUTIVE SUMMARY
o Write an Overview of one page, presenting the key points of the overall Business Plan. Address all sections of the plan in Summary fashion. This should include something from every section.
* Note: the Executive Summary is the first section in your paper, but it is the last section you will write. This works best because the Executive Summary provides an overview of your entire Business plan.
GROWTH STRATEGY
o Describe your strategic position in the market and what differentiates the products or services you plan to sell.
o How will you develop a loyal customer base for the products or services you sell?
o How fast will you grow? Where and how do you believe you can expand your business?
MANAGEMENT TEAM and KEY ROLES
o Provide a list of the key management roles that will need to be filled.
o For each key role, specify what the requirements for the roles include.
MARKETING YOUR BRAND
o Provide a detailed marketing plan. Be sure to include both Promotions Strategy and Marketing Strategy.
o In your plan, show how you will incorporate “The Four Ps of Marketing.” For information on this concept, refer to The Four Ps of Marketing document in your Assignment 3 Resources
Option C – NONPROFIT
EXECUTIVE SUMMARY
o Write an Overview of one page, presenting the key points of the overall Business Plan. Address all sections of the plan in Summary fashion. This should include something from every section.
* Note: the Executive Summary is the first section in your paper, but it is the last section you will write. This works best because the Executive Summary provides an overview of your entire Business Plan.
IMPACT PLAN
o Describe your goals in terms of the impact your activities will have on the local community.
o How will you develop connections and partnerships with local businesses and agencies?
o How fast will you grow? Where and how do you believe you can expand your activities?
LEADERSHIP TEAM and KEY ROLES
o Provide a list of the key management roles that will need to be filled.
o For each key role, specify what the requirements for the roles include.
MARKETING ANALYSIS
o Provide a detailed marketing plan. Be sure to include your Nonprofit Marketing Goals and Priorities, as well as your Key Message. To learn more about this topic, refer to the Nonprofit Marketing Plan Example document in your Assignment 3 Resources.
o In your plan, show how you will incorporate “The Four Ps of Marketing.” For information on this concept, refer to The Four Ps of Marketing document in your Assignment 3 Resources.
DELIVERABLE INSTRUCTIONS: ASSEMBLING YOUR FINAL BUSINESS PLAN
After writing the sections described above for Assignment 3, you do not need to submit them for review before integrating them into your Final Business Plan. Proceed directly to assemble your Final Business Plan, which combines content from all three assignments in this course.
Make sure you are working with the template that matches your chosen Option: Intrapreneur, Entrepreneur, or Nonprofit Leader. The template makes it easy to check that you have included all the required sections, in the correct order, in your submission for Assignment 3.
FORMATTING REQUIREMENTS
? Typed, double-spaced, using Ariel or Times New Roman font (size 11 or 12) with one-inch margins on all sides; references must follow JWMI Writing Standards format. Check with your professor for any additional instructions.
? Visuals such as Spreadsheets, Income Statements, Organizational Charts, and your SWOT Analysis may be included in the body of your document or placed at the end of your document in Appendices (i.e., Appendix A, Appendix B, etc.)
? Include a Cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date
? Include a References page to identify your sources
