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The B-Plan The Business Plan Why do we need a B-Plan Format?
What’s a B-Plan A business plan is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals. -Wiki-
Why Business Plan?? Test feasibility To give business best opportunity to success Help make business planning To attract investors, funding partners
Our Format Based on MDEC’s IHL B-plan Why? 1-best ideas will be submitted to MDEC- 2-easy, simple, complete Where to get http://www.technopreneurdevelopment.net.my/cms/library/file.asp?file=879 Or google : mdec IHL
where do we go from here? IE 01203 1st Year 2ndSem IHL Business Plan MDEC Pre-Seed Fund RM150K 2nd Year 1stSem 2nd Year 2ndSem Final Year Project 3rd Year + Practical
What do we need to have? Executive Summary Product or Service Description Technology Description Market & Competition Business Model
Our B-Plans Objective To measure the viability of our ideas To identify potential groups for the MDEC’s IHL B-plan- 2011- RM 5 000 cash winning group and a sweet RM 150K deal before your graduation.
Key facts 90% don’t read beyond your executive summary. It must be geared to entice the reader to read more, short and sexy. It is generally advisable to write the executive summary last when all the details of the business plan are available.
1st B-Plan Assignment Due on the 26th February 2010 -12.00pm date/time stamped Pejabat Am SSIL Unless you are the next Google, SUN Microsystems, FACEBOOK, 2 page report is for ‘bull dung’!
1st B-Plan Assignment Product or Service Description The focus here is the description of your product or services that you are getting into The readers expect you know about your business like you know the back of your hands Not too technical though, readers are equally knowledgeable in the business and technical aspect of the industry that you are getting into
What to do here? Step 1 This is the KEY section to IDENTIFY your 1. technology 2. services & solution that your company is best at, which will bring profit to your business. e.g-
Step 2- Research In-depth understanding of technology hygiene Analysis and research Trends, technology and innovation Sunset or sunrise? Environment balances Future direction Are you Leading or Following technology? Keeping up cioinsight.com technologytrends.com.sg/contacts.html
Step 3 –Market potential Is there a market for the product / solution? Describe your potential customers and reasons to purchase. Size of market (secondary data from magazines ect…) Describe the competition and competitive advantage of your product / solution
Step 4Identify your ‘Unfair Advantage’ What is an ‘unfair advantage’? “What you can do better than your Competitor?” You have to have a precise answer, a vague answer is as bad as no answer. It describes your distinct competence. It is your unique differentiator.
Examples of Unfair Advantage IKEA
Stylish, quality furniture
Unique and fun buying experience.
Examples of Unfair Advantage Supply chain management (SCM) is the management of a network of interconnected businesses involved in the ultimate provision of product and service packages required by end customers DELL
Uses leading-edge supply chain management
Real-time inventory = zero obsolesce
Provides clients with customization
Passes efficiency and costs reduction to clients.
Supply chain in action …wiki
Examples of Unfair Advantage STARBUCKS
Provides the place to “chill-out”.
Ali café vs Starbucks
* Format* Describe product/solution (2 points each) Describe key features/uniqnues What are the key benefits to customers? Show us the product/solution (if available) Briefly explain the underlying technology. Intellectual Property (IP) (if applicable) (extra points if lucky)
1st Assignment Describe your product & services in great details. Find references Research, research, research (library, magazines, Google it) Submit in a report format.