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Commercialization (Making A Business Plan) How to Write a Business Plan Step By Step

Commercialization (Making A Business Plan) How to Write a Business Plan Step By Step
Commercialization (Making A Business Plan) How to Write a Business Plan Step By Step

Commercialization (Making A Business Plan) How to Write a Business Plan Step By Step

WARNING! This is a task that requires great economical and entrepreneurial skills.
The task is about developing own ideas and the process of a clear business concept and business plan. A business plan is a roadmap that helps navigate a company to success. It describes all aspects of your business, including history, products, services, marketing and finance. The plan indicates that a qualified management team exists.

It communicates information to those interested in your business, such as an investor who reviews your plan to determine the likelihood of receiving a good return on an investment. Without a plan, a business will likely fail. You can write about a product that doesnít exist in the market or improve an existing business idea to make it even better. The task is about what kind of business you would have run and how you would have done it if you had the necessary capital. You must make a business plan that is realistic as possible without using any fake calculations, statistics or information that can backfire as false. I have included a PDF file that contains an example of how a business plan can look like, which is in Norwegian since itís from the University of TromsÝ where I study. Just send me a message if you canít translate the table of contents with google translator or have any additional questions about the task which is unclear.

I have also included my assignment from last semester (in Norwegian), which I got a very bad grade on. You are of course going to write the plan in English, and the feedback from last year from the teacher of why I got such a bad grade is also uploaded as a PDF file as well. In addition, I have also included a file in English which how a business plan can look like. There are several ways to make a business plan, but a good one needs to contain:

1. Introduction 2. Organization 3. Market 4. Strategy 5. Value chain 6. Timetable (which show the development) 7. Economy (extremely important). But you can also choose your own style, as long as it meets the criteria for a good business plan.
Once you know what to write about, I want you to send me a mail/message with the following details:

1. What is the current situation and what purpose does it fulfil?

2. Whatís unique about it and what kind of consequences does your product get for the current situation?

3. Why should anyone buy your product/service, and whatís different compared to your competitors?

4. Whatís the challenge for the team with regards to competence (things like technical design and further development)?
Your hypothetical company does not need to be in Norway, and you can even choose to write about a company thatís fully online. Just remember to use the currencies of either USD, Euros or Norwegian kroner when dealing with the economy. Or maybe you have a better idea?
In answering these big business planning questions, you naturally have to answer questions pertaining to each of the core business plan sections as follows:
1. Company Analysis: what products and/or services do you offer now and/or what will you develop and offer in the future?
2. Industry Analysis: how big is/are your market(s) and how are they changing? What trends are affecting them and do these trends bode well for your future success?
3. Competitive Analysis: who are your competitors and what are each of their key strengths and weaknesses? In what areas will you have or gain a competitive advantage? How?
4. Customer Analysis: who are your target customers? What are their demographic and/or psychographic profiles? What are their needs?
5. Marketing Plan: how will you reach your target customers? What promotional tactics and marketing channels will you use? How will you price your products and/or services? What brand positioning do you desire for each?
6. Management Team: who comprises your current team and what key hires must you make in order to execute on the opportunity in front of you. Will you build a Board of Advisors or Directors, and if so, who will you seek?
7. Operations Plan: what is your action plan? What are the milestones you must accomplish to go from where you are now to where you want to be at yearís end? At the end of five years?
8. Financial Plan: how much external funding (if applicable) do you need to build your company? In what areas will these funds be invested? What are your projected revenues and profits over the next one to five years? What assets must you acquire?
Answering the questions in these eight key business plan sections helps you formulate specific business goals. They also help you answer the most important question to include when you write the Executive Summary of your business plan, which is this: why is your business uniquely qualified to succeed? Your business plan should be clear and provide a roadmap for your company. Without a plan, youíll find it more difficult to communicate your vision and see a path to growth.
This is a task that requires a lot of effort and skills, so please donít take it if youíre not competent enough to make a good business plan. Thank you!

PS: You can get more than 30 days to complete the task if you need more time, and there are no restrictions on how many sources you can use, but then writing the task use Times New Roman 12!

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Commercialization (Making A Business Plan) How to Write a Business Plan Step By Step

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