FCS3300

Entrepreneurship
WesternMichiganUniversity

Business
ProposalProject

Fall2011

Due
December12,2011

TableofContents

ProjectOverview

RequiredContent

ContentGuide

WrittenProposalFormatGuide

WrittenProposalGradingRubric

PosterPresentation

PosterPresentationRubric

TeamEvaluationRubric

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BusinessProposalProject

FCS3300EntrepreneurshipinFCS

Overview

Althoughanentrepreneurialventureisoftenthebrainchildofanindividualorgroupofindividuals,
launchinganewventureusuallyrequiresoutsidesupport.Smallbusinessesrequirestartupfundsfromlending
institutions,familyandfriends.Thesuccessfullaunchofanewproduct,serviceorbusinessprocesswithina
largecorporationrequiresthesupportofmanagementandlinestaff.Introducinganewideatoaservice
organization,schoolorcommunitygroupcanbemoresuccessfulwhenkeypeopleintheorganizationbuyin
totheconcept.

Convincingotherstosupportyouridearequirespersuasivecommunicationskills.Persuadingothersthatyour
venturewillbesuccessfulrequiresthatyouhaveauniqueidea,andthatyouhaveresearcheditsfeasibility.
Successfulpersuasionalsodependsonconvincingothersthattheprojectsgoalscanbeaccomplishedusinga
reasonableamountofresources.

Theprojectinthecourseinvolvesworkinginateamtodevelopabusinessideaandproduceathoroughly
researched,wellwritten,andflawlesslypresentedBusinessProposal.TheProposalwillcontainthefollowing
information:
Businessdescription
Marketingplan
Mission/visionstatement
Operationalplan
Marketanalysis
Financialplan
Competitiveanalysis
Aswemovethroughcoursetopics,wewillbelinkingideas,concepts,theoriesandprocessestothe
BusinessProposalproject.Thefinalprojectwilltaketheformofaformalbusinessplan,andwillfollow
formatspresentedinourtextandinotherresources.Detailsrelatingtothecontentandpresentationof
eachsectionoftheproposalwillbepresentedthroughoutthesemester.

Evaluationofteamproposalswillbebasedonbothcontentandpresentation.Specialconsiderationwill
begiventoevidenceofapplicationofcourseprinciplesandconcepts,including:
Purposeandcontextofabusinessproposal;includeswritingstyleandphysicalfeaturesofthe
completedplan.
Abilitytowriteamissionstatement
Beabletowriteaneffectiveexecutivesummary.
Abilitytoprovideanddefendarationaleforownershipform.
Clearlyarticulatebusinessdescriptionpurpose,competitiveadvantageandcorecompetencies.
Demonstrateevidenceofmarketresearchinpreparationofmarketanalysisandstrategy
development.
Presentanddiscussbasicfinancialinformationtosupportthebusinessplan.
Beabletojustifydecisionsusingrelevantbusinessprinciples.
Usecomputertechnologyandformattingguidelinestoprepareaprofessionalproduct.

BusinessProposalDevelopmentProcess:

Step1:Eachstudentwilldevelopanideaforanew,innovativeretailbusinessthat
servesacompellingneed.Eachstudentwillconductafeasibilityanalysistosupportthe
idea.(WritingAssignment#2.)
o Aretailbusinessisdefinedasafirmthatsellsaproductorservicetothe
ultimateconsumerofthegood/service.Thus,abusinesswhichproducesa
productandthensellsittoaretailerdoesntfitthisprojectsparameters.You
could,howeverproduceaproductorserviceandthensellitdirectlytothefinal
consumeryourself.
o Thereareseverallimitationsonthebusinessidea:
Thebusinesswillbeonethatwouldthriveinthetargetcommunity.
Nofoodservice*/bars.
Youshouldpersonallyhavesomelevelofcompetency/understandingof
theproductsorservicesthatyoupropose,andthetechnologytocreate
theproductorservicemustbeavailable.

Step2:Businessideaswillbeevaluatedbytheclassinsmallgroups.Themost
viable/innovative/entrepreneurialideaswillgoforward.

Step3:Teamswillworktogethertorevise/improveideas,andthenmovetheidea
forwardtothebusinessproposal.

Whatcanyoudotopreparerightnow?Practiceyouropportunityseekingskillsand
thinkaboutideasforaninnovative,creative,retailconceptthatwouldsucceedin
DowntownKalamazoo,Michigan.

BusinessProposal
RequiredContent

TheWrittenBusinessPlan
willinclude:
ExecutiveSummary

Businessdescriptionand
Visionstatement

Marketanalysisand
Competitiveanalysis

Marketingplan

Operationalplan

Financialplan

Summary

Appendix

References

FormatOutlineSection
(p.127129)
inZimmerer)
I.

RefertoContentinthese
Chapters

II

3,4,5

IV,IX

VI,VII,VIII

8,9,10,14

X;XI

4,16

XII;XIII

4,11,12,13

Allsection

Provideabriefconclusionof
keypointsattheendofthe
plan.

XIV
Includeanysupporting
materialsthatsupportyour
plansclaims.

Listofallreferencesused,inAPAformat

BusinessPlanPresentation
TheBusinessPlanshouldbepresentedina3ringbinderintheorderbelow.Usesection
dividerstoorganizeeachsection.
Pleasedonotusemylarsheetcovers.
FollowguidelinesforproposalpresentationfoundinZimmerer,Chapter4.
Thefinalproposalwillbeevaluatedusingtheattachedrubric.Includeacopyofthe
evaluationrubricatthefrontofthenotebook.
Approximatelength:810pagesfornarrative,plusExecutiveSummary,Appendixand
References.
DueDate:Pleaseseesyllabus

BusinessProposalProject

ContentGuide

Thissectionpresentsthequestionsthatyourbusinessproposalshouldanswer.Reviewthechapters
andlecturenotesforguidanceonpreparingresponsestoeachquestion.Keepinmindthatthefinal
proposaldocumentshouldnotbepresentedinquestion/answerformat,butratherfollowthe
writtenproposalformatguide.

BusinessPlanDevelopment
BusinessDescriptionandVision

Thissectionanswersthefollowingquestionsforthereader.RefertoSectionIIintheBusinessPlan
Outlineinyourtext(pp.127129),andcontentinChapters3,4&5toguidedevelopmentofthis
section.

BusinessDescription
Whatisthepurposeofyourbusiness?

Whatvalueswilldriveyourbusiness?

Whatproductsand/orserviceswillyouoffer?

Whichsupplierswillyouuse?Giveoneortwoexamplesineachproductcategory.

Whatplansdoesyourbusinesshaveforfutureproducts/servicesofferings?

Whoisyourtargetcustomer?

Whatarethecorecompetenciesthatyourbusinesswillneedtoachieveitsmission,goalsand
objectives?

Whatistheproposedlegalorganizationofyourbusiness?Whydidyouchoosethisform?

Vision
Provideamissionorvisionstatementforthebusiness.FollowguidelinesinChapter4ofyourtext.

BusinessPlanDevelopment
Marketandindustryanalysisandcompetitiveanalysis

Thissectionanswersthefollowingquestionsforthereader.RefertoSectionIVandIXinthe
BusinessPlanOutlineinyourtext(pp.127129),andcontentinChapter8toguidedevelopmentof
thissection.Youcanbuildonthefeasibilityanalysisthatwasconductedforthisbusinessideaforthis
section.

Marketandindustryanalysis
Whatarethedemographic,psychographicandbehavioralcharacteristicsofyourtargetcustomers?

Howdoyoudescribeyourtradingarea?

Whatisthesizeofyourmarket?

Whyisthisanattractiveindustrytoenterrightnow?

Whatdoesittaketobesuccessfulinthisindustry?

Isthemarketforyourproducts/servicesgrowing,stable,declining?

Whataretheimportantandrelevanttrends(social,economic,cultural)thatarelikelytoinfluence
yourmarketinthenext13years?

Whatistheeconomicenvironmentlikeinyourtradingarea?

Whatistheeconomicandsocialenvironmentlikeinyourtradingarea?

Howwillyourbusinessexploitcurrentopportunities(positiveexternaloptions)inthemarket?

Whatnegativeexternalforcesmayinhibityourbusinessabilitytoachieveitsmission,goalsand
objectives?

Competitiveanalysis
Which3existingbusinesseswillyourcompanycompetewith?

Whatarethestrengthsandweaknessesofeach?

Howwillyourbusinessdifferentiateitselffromyourcompetitors?

Whatimage/positiondoyouenvisionforyourbusiness?

BusinessPlanDevelopment
MarketingPlan

Thissectionanswersthefollowingquestionsforthereader.RefertoSectionVI,VII,andIIIinthe
BusinessPlanOutlineinyourtext(pp.127129),andcontentinChapters8,9,10and14toguide
developmentofthissection.

MarketingPlan
Howwillyourbusinesscombineelementsandstrategicdecisionsrelatedtothe4Ps.

Howwillyoucommunicatewithyourcustomer?

Whatmediawillyouuse?

Whatistheproposedlocationforyourbusinessandwhyitisappropriate?

Whatwillyourstoredesign,layout,signagelooklike?

Whatproductqualitylevelwillbeoffered?

Willbrandedorprivatelabelmerchandisebeoffered?

Whatarethekeyfactorsthatwilldeterminethepricesyoucharge?

Whichstrategywillyouusetointroduceyourbusinesstothemarket?

Whatmarkuporpriceperhourisnecessarytoachieveaprofit?

Willyouoffercredit?Whattypeofcredit?

BusinessPlanDevelopment
OperationalandFinancialPlan

Thissectionofthereportshouldanswerquestionsabouthowthebusinesswilloperatewith
respecttomanagement,staffandleadershipapproach.Thissectionalsopresentsfinancial
forecasts(incomestatement,balancesheetandcashflow)andestimatedstartupcostsand
sourcesofcapital.

OperationalPlan
Whoarethekeymanagersinthebusiness?Whataretheirbackgroundsandqualifications(both
entrepreneurialandmanagerial)?

Whatisthecompanysoverallmanagementstyle?

Willyouneedtohireadditionalemployeestorunthebusiness?Brieflyexplainhowyouwillhireemployeesif
neededinthefuture.

Whatformofownershipwillyouchoosetoorganizeyourbusiness?

Whatdoestheorganizationalchartlooklikeforthefirm?(Whowilldowhat?)

Howwillmanagerialdecisionsbemadeinthebusiness?

Howwillmanagersandemployeesbecompensatedandrewarded?

FinancialPlan
SeePowerpointguidesonelearningforfurtherassistance

WhatdoestheProformaincomestatementlooklikeforthefirstyearofbusiness?Includeaproforma
statementbasedonthebizstatsexerciseintheAppendix,andapagenarrativeexplanationofthefirstyear
incomeandexpensesinthebodyofthereport.

Howmuchcapitalwillbeneededforstartupcosts?IncludeastartupcosttableintheAppendix,andone
paragraphexplanationofstartupcostsinthenarrative.

Howmuchcashwillbeneededinthefirst3monthsofoperation?Includea3monthcashflowstatementin
theAppendix.Provideoneparagraphexplanationinthebodyofthereport.

Howwillyoufinanceyourstartupandcashneedsforthefirst3months?(Wherewillthecapitalcomefrom?).
Includeseveralsentenceexplanationofequityfinancing.

Whatisthetimetableforimplementingyourbusinessplan?

Be sure to consult the Business Plan Format Guide for advice on

conclusion, references, appendix and overall format of the business
plan.

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BusinessPlanFormatGuide
WrittenProposal

ThisguidehasbeenpreparedforstudentsinFCS3300toassistincreatingthewrittenbusinessplan
project.Thisguideincludescontentrequirementsandguidelinesforformattingthereport.

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WrittenProposalFormatGuide

WritingStyle
Thebusinessplanisadocumentwrittentoinformothersabouttheentrepreneursbusinessidea,
andtoconvincereadersthatthisisanideaworthinvestingin.Thepurposeofthereportisnottosell
yourproductorservicetothereader,butrathertoselltheideathatthisisaviablebusinessidea.
Thereportshouldbewritteninaprofessionaltone,takingcaretoavoidslang,clichsandhyperbole.
Useactivevoiceformforthemajorityofyourwriting.

ReportFormat
Font.Use12pointfont,TimesNewRoman,Arial,Calibriorothereasytoreadfont.Useonefont
consistentlythroughoutthereport.Tablesmayuse11or10pointfont.Upto24pointfontmaybe
usedforthetitlepage.

Spacing.Use1.5spacingthroughouttheproposal,exceptfortables,whichmaybesinglespaced.

Margins.SelectmirroredmarginsfromthemarginmenuinMicrosoftWord.Thisresultsina1.5
marginontheleftsideand1inchmarginsontop,rightandbottom.

Pagenumberingandpagebreaks.Thetitlepageisnotnumbered.TheTableofContentspageis
numberedi.BeginnumberingwithExecutiveSummaryaspage1,andcontinuingtonumber
consecutivelythroughtheendofthereport.Placepagenumbersatthebottomofthepageand
center.UserdefinedpagebreaksshouldbeusedafterTableofContents,ExecutiveSummaryandat
theendofthemainbodyofthereport.Themainbodyofthereportshouldflowfromonesectionto
anotherwithnouserdefinedpagebreaks.

Presentation.Thebusinessplanreportshouldbepresentedon8x11whitepaper,andbound
alongleftmarginorin3ringbinderofanappropriatesizeforthereportcontent.Besurethatall
pagesinthereportareuniforminsize,andarealignedcarefully.Printonsinglesideonlythroughout
thereport.DonotuseMylarsheetprotectors.Reportsusingsheetprotectorswillnotbegraded.

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TitlePage

Thetitlepageisthefirstpageofyourreport.Itshouldcontainthefollowinginformation,centered
onthepage:

Titleofyourbusinessandidentificationofdocument.
Date
Firstandlastnamesofteammembers,withWMUemailaddresses

ForExample:

_________________________________________________________________________________

TheFlipFlopShop
BusinessProposal

MM/DD/YYYY

TeamMember1 teammember1@wmich.edu
TeamMember2 teammbember2@wmich.edu
TeamMember3 teammember3@wmich.edu
TeamMember4 teammmember4@wmich.edu

________________________________________________________________

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TableofContents
Thetableofcontentspagepresentsthesectionsofthereportandcorrespondingpagenumbers.
Suggestedlengthofeachsectionisgiveninitalics.(Donotincludesuggestedlengthinyourreport.)

Forexample:

Page
ExecutiveSummary12pages
1
Introductionpage
3
Businessdescriptionandvisionstatementpage
3
MarketAnalysis22pages
35
CompetitorAnalysis12pages
57
MarketingPlan2pages
89
OperationalPlanpage
9
FinancialPlan11pages
910
Conclusionpage
10
Referencesvariablenorestriction
11X
Appendixvariablenorestriction
XX

Numberthispagei.

ExecutiveSummary(12pages)

TheExecutiveSummaryisacomprehensivesummaryofthecontentsofthenarrative.Executive
summariesareoftenusedbypotentialinvestorstodetermineifitisapotentialbusinessideathat
intereststhem.Thissummaryshoulddescribethebusinessproposalincompleteenoughdetailto
communicatetheessenceofallofthebusinessplancomponents.Thissectionshouldbe12pagesin
length.NumberthefirstpageoftheExecutiveSummary1,andcontinuetonumberpages
consecutivelytotheendofthereport.
Beginnumberingthispagestartingat1.

NarrativeSection(maximum10pages)
Providesectionheadingsforeachsection.Eachsectionandparagraphwithinsectionsshould
demonstratestrongorganizationalwritingskills,withclearintroductoryandconcludingstatements.

Introduction

Theintroductionshouldbepage,andshouldintroducethereadertoyourbusinessidea,and
previewthecontentofthenarrative.

Businessdescriptionandvisionstatement

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Thissectionanswersthefollowingquestionsforthereader.Whatisthepurposeofyourbusiness?
Whatvalueswilldriveyourbusiness?Whatproductsand/orserviceswillyouoffer?Whichsuppliers
willyouuse?Whatplansdoesyourbusinesshaveforfutureproducts/servicesofferings?Whoisyour
targetcustomer?Whatarethecorecompetenciesthatyourbusinesswillneedtoachieveits
mission,goalsandobjectives?Whatistheproposedlegalorganizationofyourbusiness?Whydid
youchoosethisform?

Marketandindustryanalysis

Beginthissectionbyansweringthesequestions:Whatarethedemographic,psychographicand
behavioralcharacteristicsofyourtargetcustomers?Howdoyoudescribeyourtradingarea?Whatis
thesizeofyourmarket?

Themarketingandindustryanalysissectionshouldanswerthefollowingquestions.Whyisthisan
attractiveindustrytoenterrightnow?Whatdoesittaketobesuccessfulinthisindustry?Isthe
marketforyourproducts/servicesgrowing,stable,declining?Whataretheimportantandrelevant
trends(social,economic,cultural)thatarelikelytoinfluenceyourmarketinthenext13years?

Thissectionalsoaddressesthesequestions:Whatistheeconomicenvironmentlikeinyourtrading
area?Whatistheeconomicandsocialenvironmentlikeinyourtradingarea?Howwillyourbusiness
exploitcurrentopportunities(positiveexternaloptions)inthemarket?Whatnegativeexternal
forcesmayinhibityourbusinessabilitytoachieveitsmission,goalsandobjectives?Youmaywantto
buildonthefeasibilityanalysisthatwasconductedforthisbusinessideaforthissection.

Competitiveanalysis

Thissectionshouldanswerthesequestions:Which3existingbusinesseswillyourcompanycompete
with?Whatarethestrengthsandweaknessesofeach?Howwillyourbusinessdifferentiateitself
fromyourcompetitors?Whatimage/positiondoyouenvisionforyourbusiness?

Marketingplan

Thissectiondescribesyourmarketingstrategy.Thereportshouldexplainhowthebusinesswill
combineelementsandstrategicdecisionsrelatedtothe4Ps.Thissectionshouldanswerthe
questions,Howwillyoucommunicatewithyourcustomer?,Whatmediawillyouuse?,Whatpricing
structurewillbeused?(discussmarkup,ratesperhourasappliestoyourfirmsactivities).What
pricingstrategywillyoufollow?;Whatistheproposedlocationforyourbusinessandwhyitis
appropriate?Whatwillyourstoredesign,layout,signagelooklike?,andWhatproductqualitylevel
willbeoffered,Willbrandedorprivatelabelmerchandisebeoffered?

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Operationalplan

Thissectionshoulddiscussbrieflythefollowing:Qualificationsofthemanagementteam,decision
makingresponsibilities,staffrequirements,days/hoursofoperation,specialcustomerservice
offerings.

Financialplan

Thissectionshouldpresentthefirstyearproformaincomestatementandfirst3monthscashflow
projectionsintableform.Anarrativediscussionofprojectedsalesforthefirstyear,andexplanation
ofthedatapresentedintheincomestatementandcashflowprojectiontablesshouldbeincludedin
thissection.Iftheteamelectstocompletethebonusbalancesheet,thisinformationcanbeincluded
intheAppendix,asnotedinthePowerpointslidepresentedinclass.

Astatementoffundsneededforstartupshouldalsobeincludedinthissection.Thisdiscussion
shouldidentifythetotalamountneededtostartthebusiness,andidentifyatleasttwosourcesand
amountsofequityfinancinginadditiontotherequestedloanamount.Includeadetailedtable
identifyingstartupfundsneededbycategoryintheAppendix.

Conclusion

Thefinalparagraphshouldsummarizetheessenceoftheplan,withastatementexplainingwhythis
planisworthinvestingin.

References

ListreferencesusedaccordingtoAPAguidelinesandformatting.Thequalityandquantityof
referencesarecriticaltotheoverallqualityofyourproposal.Proposalswithscantreferencesdrawn
fromquestionablesourcesareviewedskeptically,andriskbeingoverlookedbyinvestors.

Appendix

TheAppendixappearsafterthemainpaperandreferencelist.TheAppendixshouldpresent
supportingdatasuchasarticles,reportsandcopiesofdatausedintheplan.TheAppendixmayalso
includelengthytables,suchastheProformafinancialstatements.AllitemsintheAppendixmustbe
referredtointhetextofyourplan.Forexample:ArecentarticleinNationalGardenerindicatedthat
homegardeningisontherise(SeeAppendix).

ItemsintheAppendixshouldbeorganizedintheorderinwhichtheyarediscussedinyourplan.For
example,ifyoudiscussaUSCensusreportonpage2ofyourreport,thendiscusstheNational
Gardenerarticleonpage3,placetheUSCensusreportfirstintheAppendix,followedbytheNational
Gardenerarticle.

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GradingRubric
WrittenProposal

TeamName___________________________________
Gradingrubric/Section
ExecutiveSummary

BusinessdescriptionandVision
statement
MarketanalysisandCompetitive
analysis
Marketingplan

Financialplan

Operationalplan

Summary/conclusion

Appendix:contents,organization

WritingMechanics

PresentationandOrganization
TotalPoints

Points
Scoring
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Writtenproposalswillbeevaluatedonabovecriteria.Themainproposalshouldnotexceed10
pages,withadditionalpagesdevotedtoappendicesandreferences.Includeallelementsdescribedin
thisHandout.Besuretoreviewallrequirementsoftheproject,andbaseyourplanonconceptsand
principlespresentedinreadingsandclassdiscussions.Proposalmustbesubmittedinclassonthe
duedatenotedinthesyllabustobeconsideredforfullcredit.

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Proposal:OralPresentation
FinalExamPosterPresentation

Thefinalexamactivityforthiscourseconsistsofyourteampresentationofbusinessproposal
conceptstotheHastingsbusinesscommunity.Presentationswilltakeplaceduringthetimeslotfor
thefinalexam.Therewillbenoadditionalfinalexamrequirements.

TeamswillcreateandpresentaprofessionalposterbasedontheBusinessPlanwrittenreport
explainingthebusinessconcepttotheHastingscommunity.Detailswillfollowonspecific
requirementsforthisassignment.Thisassignmentisworth50points.Pleaseseetherubricatthe
endofthissectionforpresentationrequirements.

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PleaseseeFinalExamPosterGuidepowerpointon
Elearningforpresentationrequirements.

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GradingRubric
PosterPresentation(FinalExam)

FinalPosterPresentationRubric

Professionalism
Ontimearrival,
preparation,personal
appearance.

Interaction:effective
articulationofproject
concepts.

Posterpresentation:
Organized,clearideas.
Errorfree;
Attractive
presentation;follows
prescribedguidelines.

PointsPossible50

109876543210

20181614121086420

20181614121086420

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BusinessPlanTeamEvaluation

Usingonecolumnforeachofyourteammembers,completeanevaluationonthecriterialisted.Your
evaluationshouldbebasedonyourcarefulconsiderationofeachcriterion.PleaseentertheFIRSTandLAST
namesofyourteammembersinthecolumns,andthenenteryourevaluationusingthescalebelow.Totalthe
scoreforeachteammember.ThesescoreswillbecomepartofyourteammembersgradeontheBusinessPlan
Project.
Rateeachbehaviorforeachteammemberonascaleof1to5with5equalingOutstanding.

Nameofteammember
(PRINTFIRSTandLASTname)

Contributedcourserelated
knowledgetoproject

Waswillingtolistento
othersideas

Contributedcreativeideasto
theproject
Contributedafairshareto
theproject.

Wasdependable;attended
meetings,submittedassigned
work.
TotalScoreforeachteam
member

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