Business Plan – Federally Administered TRS-Integrated Elect…

Business Plan – The business plan describes the opportunity that you have uncovered

and how you will take advantage of that opportunity. It is a form of storytelling that will

persuade readers of the feasibility of the idea.

o One of the most significant reasons to write a business plan is that it requires

you to participate in a laborious and often eye-opening process that is a critical

phase before launching a new organization.

o You must respond to difficult queries about the nature of the need for the

product or service, the intended target customer, your differentiation strategy,

how long will it take before you are profitable and realize positive cash flow and

how will you fund the beginning stages of growth.

Plan Details:

Opportunity: What need are you solving for which consumer?

What problems are you solving? What is the size of your market? What

indicators are you seeing in the external environment that will sustain the

growth?

Product/Service: Describe the product or service? What is your unique

selling proposition (why would consumers choose your product over the

closest competitor)?

Value Proposition: What value are you giving the target customer that

others do not provide?

Marketing Strategy: What is your marketing communication strategy and

how will you reach your target customer?

Competitive Environment: Who are the main competitors? What core

competencies do you possess that others may not?

Management: Why will investors/suppliers/bankers be confident in your

ability to be successful in this venture?

Financial: How will you determine projected sales? How long will it take

to be profitable? When will the company become cash positive?

Funding: How much cash will you need to fund the startup? And how

long will you be able to operate before even making $1 in sales.