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ENTR350 New Venture Creation

tag 0 Download 18 Pages / 4,405 Words tag 23-07-2021

Questions:

You are a consultant for new business start-ups in your preferred industry. In the course of your work you thought of a great new business idea, which you want to pursue.

Write a short business plan for your new business idea. Provide only a very brief overview of the marketing strategy, except as it relates to the innovative aspects of your business idea. Because you are a consultant you should include references to appropriate theory to support and justify your decisions.

Focus mainly on the following discussion points:

Show your calculations for your estimate or forecasts for sales and costs in the first year at least.

-When will the business start to make a profit?

-How profitable will the business be when it is established?

-How big will the business be then? For example, you could use employee or location numbers to indicate size.

Discuss your need for finance and justify the strategies you will use to get them. For example you could discuss your decisions around the use of debt and/or equity.

Discuss how you will handle the challenges of fast growth and avoid the major pitfalls of new business start-ups. Address any weaknesses of your business idea.

Discuss your long-term goals in terms of harvesting or exit strategies.
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Total 18 pages

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