Marketing analytics

[pic 1]

Business Start-Up Plan

Name and Business Name:

Step 1 – Description of Your Business Venture & Market Assessment

Date :

Step 1 – Description of Your Business Venture & Market Assessment

This first step of your business plan which covers the course material of Week 1: Module 1.

This section is composed of two sections with a total of 11 questions to help you start your business plan. Your responses to each question should be well detailed and linked with the module’s content and your business needs. Please answer under each question individually and as complete as possible.

• Number of Pages: 5-10 pages
• Times New Roman or Arial (12 Font) & 1 1/2 spaced
• Timeline recommended : By the end of week one

Good luck!

Step 1 – Description of Your Business Venture & Market Assessment

Section 1:  Business and Entrepreneurial Opportunity

1. Business Opportunity

1. Define your business idea and identify the importance of this type of business in your city, province (state) and/or country.
2. Provide examples of similar successful businesses started by other entrepreneurs.

1. Management Capabilities

1. Discuss your management capability, professional, and personal background (also for  your business partners, if applicable).

1. Readiness for an Entrepreneurial Career

1. Describe the main characteristics of successful entrepreneurs in this type of business.
2. Recommend several factors related to readiness for entrepreneurship and getting started in this type of business.

1. Rewards and Drawbacks

1. Identify the main rewards and drawbacks of starting this type of business.

Section 2: Defining the Competitive Advantage

1. Competitive Advantage

1. Identify the competitive advantage of your business relative to your product or service and identify the specific factors contributing to your competitive advantage and how you will sustain it for the next 2-3 years.

1. Feasibility of the Business

1. Explain if you have a fatal flaw that can stop you business project.
2. Assess and evaluate the macroenvironnement of your business by performing a PESTEL and a Porter’s 5 analysis.

1. Market segmentation

1. Identify the appropriate market segment(s) for your type of product or service.
2. Determine if your business is in a potential niche market and how you can maintain this strategy in the future (2-3 years)?

...