Study the various guidelines used by successful entrepreneurs in gathering facts and opinions such as making a commitment to go into business, analysing oneself, choosing a product, researching markets, organizational, legal, accounting, insurance, computer and financial plans.
Project yourself as an entrepreneur of a small scale business in Saudi Arabia.
Business Plan format required.
A title page,
(a) General Business Description
• Mission Statements
• Company goals and objectives
(b) Business Philosophy
• Target Customer
• Industry Description: Is it a growth industry? What long term or Short term changes do you foresee in the industry? How will your company take advantage of it?
• Company strengths and core competencies: What factors will make the company succeed? What do you think your major competitive strengths will be? What background experience, skills, and strengths do you personally bring to this new venture?
• Legal form of ownership: Sole proprietor, Partnership, Corporation, Limited liability corporation (LLC)? Why have you selected this form?
(c) Products and Services
• Describe in depth your products or services. (Technical specifications)
• What factors will give you competitive advantages or disadvantages? Examples include level of quality or unique or proprietary features.
(d) Marketing Plan
• How the company will get to the customers and the coherence of the marketing tool adopted with the overall strategy?
• State 4 Ps of marketing
(e) Operations and developmental Plan
• How product will be produced or service provided
• The location of the production facilities
• The dimension and capacity
• The internal layout The cost of the investment needed (i.e. Plants, equipment, buildings)
• The cost of the investment needed (i.e. Plants, equipment, buildings)
(f) Management Plan
• Describes the firm’s organizational structure and the backgrounds and qualifications of key personnel
(g) Financial Plan
• Sources and Uses of Capital
• Balance Sheet
• The income statement
• The cash flow statement should present data on a monthly or seasonal basis
• Breakeven analysis
• Financial Ratios
• A sensitivity analysis is needed, showing what would happen in at least three scenarios: ? Worst case scenario ? Probable scenario ? Best case scenario
(h) Prepare Executive Summary of the Plan.