Good Teaching Practices | Page 79

Real Market Challenge

Key Questions for your Core Business Plan

Executive summary

Leave this part for last!

Please summarise the main points of your concept and describe why your business idea will be a success.

Write this section like an elevator pitch!

Give your readers a feeling of inspiration.

From business idea to product

Describe your business model.

How did you come up with the business idea?

Which need does your business idea fulfil?

Which talents do you have that support a successful implementation of your business idea?

Please describe your product or service.

Why should people buy your product/service?

What makes your product/service better than the competition?

Market chances and target group

How do you know that your product/service has a chance on the market?

Who is your clientele/target group? Define.

Where is your target market?

How big is the market appeal?

Type of business: service, retail, wholesale or production?

Market chances & marketing strategies

Did you identify the 4Ps? Price, Product, Place and Promotion.

What does your product design look like?

Show a sample!

What is the price you have in mind? How did you arrive at this price?

How do you intend to sell the product?

How do you plan to advertise your company?

What is your advertising concept (e.g. posters, business cards, flyers, internet, etc.)?

Analysing competition

Are there any competitors? "No" is not an acceptable answer ;-)

Which companies are your competitors?

Team description

Who is your team?

Who can do what?

How many members does your team have?

Which qualifications do they not yet possess?

From idea to implementation

Can you describe step-by-step how you plan to implement your idea?

Provide a chronological plan of how this works.

Vision and slogan

Your vision is a simple and honest description of the company’s long-term plans.

Your slogan is a short phrase that you want people to associate with your company.

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