Imagine that you are setting up a small business in London (in any sector). You have some funds, but you need another £20,000.
Your local Entrepreneurs’ Network has just announced a Dragon’s Den type of competition.
They are requiring that participants to develop a business model for their new small business venture using the Business Model Canvas (i.e. a strategic management template used for developing new business models and documenting existing ones) and that they submit their business plans in a form of a 10-minute pre-recorded presentation (audio or video with accompanying PPT file).
Participants who produce the most thorough and convincing business plan presentations will receive grants from the Entrepreneurs’ Network.
Assessment Brief: LSBM305 – 2021-22 Page 3
b. Business description and structure
This is where you explain why you are in business and what you are selling. If you sell products,describe your manufacturing process, availability of materials, how you handle inventory and fulfilment, and other operational details. If you provide services, describe them and their value proposition to customers. Include other details such as strategic relationships, administrative issues, intellectual property you may own, expenses, and the legal structure of your company.
c. Market research and strategies
Present your market analysis and describe your marketing strategy, including sales forecasts, deadlines and milestones, advertising, public relations and how you stack up against your competition.
d. Management and personnel
Provide bios of your company executives and managers and explain how their expertise will help you meet business goals. Investors need to evaluate risk, and often, a management team with lots of experience may lower perceived risk.
e. Financial documents
This is where you provide the numbers that back up everything you described in your organizational and marketing sections. Include conservative projections of your profit and loss statements, balance sheet, and cash flow statements for the next three years. These are forward-looking projections, not your current accounting outputs.
f. Appendix – Business Model Canvas
In the Appendix of your presentation, you should include a copy of your Business Model Canvas.
You can find a copy of the Business Model Canvas to edit in your module area or you can use the online Canvanizer tool: https://canvanizer.com/
g. Reference list
Harvard referencing system must be used
