Develop a Business Plan
1: Executive Summary, Company & Product Descriptions
2: Business and Management Structure
3: Seek Professional Assistance
4: Market Research
5: Financial Analysis and Projections
6: SBIR/STTR and Other Seed Funding
7: Venture Capital and Other Funding
8: Product Development and Marketing Plan
Executive Summary, Company & Product Descriptions
Scenario
Reading
Challenge
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Business plans begin with an executive summary and descriptions of your company and product:
Executive Summary
- Your business’s focus, mission, the products or services offered, ownership, and a summary of your plans.
Company Description
- The company name, location, key people, history, nature of the business.
- Goals and how you will achieve them.
- Funds needed and how you will use them.
Product Description
- What the product is and how it works.
- Its value proposition, which is the reason someone will want to do business with you, including:
- The customer’s need or problem.
- What your product offers, its benefits.
- How the benefits solve the customer’s need or problem.
- Why your solution and delivery is the preferred one.
Tip:
Make your business plan concise and clear for the audience reviewing it.
Show why you care about your product and others should, too.
Read More:
Writing a Business Plan
Challenge:
Sarah Johnson, PhD is starting a company to produce antiviral peptibodies and described her company and product in the Scenario above (Please review before answering this challenge). She wants to understand how close she is to interesting investors in her company. Please help her by evaluating whether her planned business, ViroPep, appears to meet the following investment criteria.
