Busn11087 New Venture Creation Assessment Answer

This is your FIRST assessment and is worth 20 per cent of your total mark Each group (consisting of no more than 4 studentsl will have lS-minutes to present their business plan, the business idea on which it is based and how the product or service will fit into the market. Your tutor will arrange presentation time slots.
Each group should arrive 10 minutes before their scheduled presentation time and, when called, be prepared to begin immediately. Any over-run on time will incur a penalty. Time management and planning are an essential part of a good presentation. Remember, you have only 15 minutes in total and you will be stopped once this time has elapsed. lf you have not finished then you will have incurred a penalty (5 percentage points!. Below is a suggested schedule that may help gather your thoughts. lt is NOT the only way
to give the presentation. Possible schedule of topics for presentation of the business plan:
o lntroduce the Group, the members, their respective responsibilities and the company name.
o THE BUSINESS IDEA. What is it that you are going to do?
o Explain the nature of your product or service. What is it that makes it different from the competition? What are the characteristics or features?
o The competition. Who are they? Why are they a competitor? How does the competition's product/characteristics differ from yours? What is your competitive advantage? What strategy are you pursuing?
o What about promotion/advertising? How willyou PLACE your product in the market? E.g. is it being placed as a premium product?
o Have you priced your product? lf so how did you do it? ls there a margin for PROFIT? How do you know?
o Do you have a sales plan?
o Where willyour business be located?
o People. Are you employing anyone? How many? Are there legal requirements?
o Capital requirements? Do you have estimates for this?
o Financial plan. Do you have one? Components of cash flow, profit-loss etc.
o Funding. Do you have a funding requirement? lf so, what is it?
There is a great deal to cover in the 15 minutes allowed. You will need to plan and focus on the key issues with respect to your product or service. Every business plan will be unique; although they should all have a similar structure. What is inside the plan is unique to your business.