LRN0034 - The Business Plan
Course Description
This course guides you through creating a business plan, step by step, to help start or grow your business. Focus on key components to identify risks and evaluate your business from marketing, management, and financial perspectives, while developing a clear roadmap that supports your vision and secures funding.
Course Outline
Unit 1Getting Started—Refine your concept and begin your plan.
• Prepare your concept statement—What, Who, Why, When, and How.
• Identify product/service features and benefits.
• Identify limitation, liabilities, and regulations.
• Write your Business Description and evaluate it against a Business Description checklist.
Unit 2
Prepare the Marketing Plan
• Conduct an industry and competitive analysis.
• Perform a market analysis and identify target markets and a market penetration strategy.
• Identify your pricing strategy.
• Write your Marketing Plan and evaluate it against a Marketing Plan checklist.
Unit 3
Prepare the Management and Financial Plans
• Identify key people and positions, duties and responsibilities.
• Determine funding needs and sources.
• Create sales and expense estimates.
• Write your Management and Financial Plans and evaluate them against checklists.
Unit 4
• Polish the plan and add final elements—Cover Page, Executive Summary, Table of Contents.
• Evaluate business plan against checklist and identify items in need of additional work.
• Assess business against feasibility checklist.
• Identify next steps.
Learner Outcomes
At the end of this course, you will:- Possess a clear description of your proposed business.
- Have the basic components of a business plan.
- Possess a detailed checklist for next steps to research and launch your business.
- Analyze the feasibility of your business.
Notes
Course ObjectivesUpon successful completion of the course, you will be able to:
- Write a clear, succinct business concept statement.
- Conduct research on your business and its relation to the industry, competition, and marketplace.
- Project funding requirements, sales, and expenses for your business.
- Research, develop, and write core elements of a business plan, which you can continue to expand and research after the conclusion of the course.
- Evaluate your business for feasibility.