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Written Business Plan

Weight
50%
Description
- Opportunity/Need: (20%) - Product/ Service: (15%) - Intellectual Property: (5%) - Industry Analysis: (10%) - Marketing: (10%) - Operating Strategies: (10%) - Founding (Management) Team: (15%) - Financing/Profit Potential: (10%) - Writing: (5%) TOTAL: 100%
Guidelines & information
Written Plan Scoring faulkner-challenge.pdf 427.91 KB
Written business plans are limited to 5 pages of text (typed, 12-point font, and 1" margins on all sides). The cover page and table of contents are not included in the 5-page limit. Detailed spreadsheets and appropriate appendices should follow the text portion of the business plan; 5 additional pages are allowed for this section. Plans that do not use all 5 pages allotted to the appendices and spreadsheet section may NOT be used to increase the size of their 5-page business plan. In total, the maximum number of pages is 12. DUE on March 5, 2021.

Rubric

Opportunity/Need: Describes the market opportunity.
Opportunity/Need: Describes the compelling need for the product or service, how severe is this problem.
Opportunity/Need: What trends are favorable for the business.
Opportunity/Need: Why is now the time to sell this product/service.
Product/Service: Describes the key features and benefits, current stage of development, and VALUE PROPOSITION.
Product/Service: Why will customers want to buy (how is it different or better than the current offerings).
Product/Service: How is this the APPROPRIATE SOLUTION to the problem/need.
Intellectual Property: All points awarded only if the venture has secured license to or ownership of intellectual property, Partial points awarded if the Potential to secure intellectual property exists.
Industry Analysis: Provides the size, demographics, trends, life cycle stage and growth rate of the industry, Is this an attractive industry to enter.
Industry Analysis: Thorough awareness of competitors and how to differentiate in the market, What have they learned from talking to distributors, competitors, retailers, etc.
Marketing: Are they focusing on the correct customer for their target market, What methods will they use to raise awareness of their product and gain interest from the customer.
Marketing: Are these effective marketing techniques for this type of product and business, Explains knowledge acquired by talking to potential customers.
Operating Strategies: They know How the product/service will be created (make or buy) and delivered to the customer.
Operating Strategies: What role will strategic partnerships play in the venture (suppliers, distributors, etc.), Have they secured the necessary suppliers, vendors, distributors, etc. to make this happen.
Founding (Management) Team: Who is the founding team and do they have the skills needed to succeed.
Founding (Management) Team: What advisors are needed for this type of business and did they secure them.
Founding (Management) Team: What are the gaps and what will they do to fill them.
Financing/Profit Potential: Know How much money is needed and how they will acquire it, Team presents a Realistic assessment of cash requirements—inflows and outflows, Expected Profit margin (%), and amount of profit.
Financing/Profit Potential: Knowledge of when the business will break even and become profitable, Demonstrates potential to generate levels of revenue and profit to sustain and grow over time.
Writing: Professionalism of document (spelling, grammar, format, vocabulary, use of charts, diagrams).
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