Develop a Business Plan
Instructions: Review case examples and try challenges for the parts of a business plan that interest you. Save resources that interest you to read more on our website later.
Parts of a Business Plan
Executive Summary
- Company and Product Description
- Business and Management Structure
- Choose your structure and role
- Partners and cofounders: Pros and cons
- Seek professional assistance
- Market Description and Marketing Plan
- Financial Plan
- Funding
- Seed funding
- Secondary funding
- Product Development Plan
Part #1: Company and Product Descriptions
Reading:
Executive Summary
- Executive Summary: Your business’s focus, mission, the products or services offered, ownership, and a summary of your plans.
Company Description, Product Description
- Company Description: The company name, location, key people, history, nature of the business, and more details on what will be offered. Objectives or goals and how you will achieve them. What funds are needed and how they will be used.
- Product Description: What the product is, how it works. Value proposition: 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
Case example:
Company Description-ViroPep, Ltd., located in Biotech Park, is headed by its sole founder, protein scientist, Sarah Johnson, Ph.D. ViroPep uses a novel method produced by Dr. Johnson (patent pending) to produce antiviral peptibodies. Funds needed to demonstrate the method can produce peptibodies with effectiveness in the laboratory against multiple viruses are estimated at $7 million. Achieving this milestone will position the business for sale to companies interested in exploring in vivo applications.
Product Description
Using our novel method for creating antiviral peptibodies, ViroPep has produced a peptibody with demonstrated in vitro effectiveness against rat coronavirus. The next goal is to demonstrate effectiveness against multiple viruses, followed by in vivo applications.
Play the role of an investor and evaluate this company as a potential investment:
Investor Rating
User rates a company as a potential investment.Tip: Make your business plan concise and clear for the audience who will be reading it. Show why you care and others should, too.
