Technology Entrepreneurship

Topic 3

Developing an Effective
Business Plan
 Course Journey Overview
The Investor’s Mind and
10 1 Introduction
Pitching to the Investors

Innovation, Opportunity
Governmental
Identification and
Interventions 9 2 Assessment and Pathways to
Topics Entrepreneurial Ventures

Ethical and Legal

Challenges 8 3 Business Plan
(BP)

Customer-Centric
Launching the business and Marketing and Cost
strategic growth
7 4
Structures

Sources of Capital and

Business operations
6 5 Financial Preparations

2
 Learning Outcomes
At the end of this unit, students will be able to:

Importance of Planning and Pit What is a Business Plan? Purpose and benefits of Busine
falls ss Plan

Elements of Business Plan

3.1

Planning
3.1.1
What is Planning
Definition

Planning is the fundamental management function, which involves deciding beforehand:

What When How Who

is to be done is it to be done It is to be done Is going to do it
3.1.2
Importance of Planning
Critical Factors of Planning

Realistic Goal Commitment Milestone Flexibility

• Specific • Family, Friends • Sub-goals • Obstacles
• Measurable • Partners • Evaluation • Strategies for Plan B
• Time bound • Employees
• Team
3.1.3
Importance of Planning
Pitfalls to Avoid in Planning

The mistakes which can ruin business :

planning

No Realistic Goal
Lack
Failure
No Commitment
of to
Demonstrated
NoAnticipate
MarketorNiche
Dedication
Roadblocks
Experience
3.2

Business Plan
3.2.1
What is a Business Plan?
Definition

A written document that details the proposed venture.

Describes the current status, expected needs, and projected results of the
new business.

Covers the project, marketing, research and development, manufacturing,

management, critical risks, financing, and milestones or a timetable.

Demonstrates a clear picture of what that venture is, where it is projected to

go, and how the entrepreneur proposes it will get there—a roadmap for a
successful enterprise.
3.2.2
What is a Business Plan?
Purpose

Purpose of Communicate with and obtain Financing from financial sources

Business Plan

Determine all the resources needed including financial

Provides a roadmap or direction for the new venture .

Evaluate the results of the venture

Obtain a co-venturer
 3.2.3
Developing a Business Plan
Putting the Package Together

Appearance Length Cover Page

Proper headings, font Maximum 30- Professional
style, formatted 40 pages and Catchy

Executive Table of Content

Summary Proper details of
Very important and figures, tables,
should be special terms etc.
persuasive
3.2.4
Developing Business Plan
Guidelines to Remember

Organize and
Keep it Simple and Orient the plan
package the plan Avoid exaggeration
Short toward the future
appropriately

Give evidence of an
Highlight critical Do not over- Identify the target
effective
risks diversify market
entrepreneurial team

Keep the plan

Capture the reader’s
written in the third
interest
person
3.2.5
Developing Business Plan
Elements of a Business Plan

Title page Executive Business and Technology Plan Marketing Strategy

Summary Industry Overview

Financial Organizational Plan Conclusion Appendix

Projections
3.3
Assignment 1 (Business Plan)
Important Details

Assignment 1 Submission deadline: Week 12

Assignment 1 and 2 are totally not related to each other.

Carries 30% marks. So take it very seriously

Presentations will be based on Assignment 1. Which means another 10% is

linked with Assignment 1.

Team work is very, very, very... Important !