BUSD1001-Business Communications I

BUSD 1001 Business Communications I NorQuest College 1 Proposal for Funding: Planning Document Unit 3: Persuasive Presentations Type of organization: ? Start-up business ? Social enterprise ? Non-profit Step 1: Define the problem Brainstorm to come up with three problems or opportunities. These can be from your everyday life, something you have always wanted to explore or something you are passionate about. Problems or Opportunities 1. 2. 3. Step 2: Describe your solution Working with your list above, describe how your organization will solve each problem. Solution 1. 2. 3. Decide which problem/solution you want to pursue. Pick one that you will use for your pitch. Step 3: Know your target market Describe the demographic characteristics. Characteristic Description of your target market, ifapplicable Gender Age Income range Household formation Ethnic background Other? BUSD 1001 Business Communications I NorQuest College 2 Describe the psychographic characteristics. Characteristic Description of your target market, ifapplicable Values Beliefs Likes/dislikes Activities Others? Step 4: Describe the competition Describe any direct competitors (i.e. they are asimilar business and have the same target market). Describe any indirect competitors (i.e. they are adifferent business, but are trying to solve the same problem). Competitive Advantage What isyour value proposition? (i.e. how isyour offering different or better than your competitors ’ offerings? Or how will you stand out from the crowd?) Step 5: Explain why you should receive the funding Consider the type of funders you are approaching (investor, philanthropist, government agency or granting council). What isimportant to this type of funder? What benefits can you emphasize? (Reminder: These are audience benefits, not benefits to you) What objections might you have to address, and how will you overcome these objections? BUSD 1001 Business Communications I NorQuest College 3 Step 6: Ask for the funds There is$250,000 CDN available. How much are you going to ask for? Be reasonable, specific and provide rationale. Revenue: What isareasonable estimate of revenue per month for the first 6months or first year? How did you calculate this number? Startup Expenses: One-time costs that you will need to incur to start your business (e.g. building, computers, vehicles, inventory, machines etc.) Item Estimated Cost Operating Expenses: Ongoing monthly expenses (e.g. rent, phone/internet, insurance, gas, your salary etc.) Item Estimated Cost Based on the above, how much funding will you need? (Remember, you will need to cover your startup expenses and at least 6months of operating expenses)