Wednesday, 15 July 2015

P6 Present a realistic business model for a business start up

6.01 Present a realistic business model for a business start-up
Date to be completed
Wednesday 15th July 2015

The investors have requested that you submit an official report style document outlining the business plan that you have designed for your start-up business. Use the following headings to create a plan:

Definition of a business model – shows how a business aims to generate revenue and make a profit from operations: the model includes the components and functions of business, as well as revenues it generates and expenses it incurs

Components of a business model, including:

The vision and aims of the business

o business aims – the long-term visions or goals
o business objectives – measurable targets to help achieve the overall aims of
a business, importance of making objectives SMART (specific, measurable,
achievable, realistic and time-related)

Write a short paragraph outlining what the business will hope to achieve and state three aims/objectives for the business

Market research

o results of researching the market, including identifying potential customers
(businesses or individual consumers) and competitors

Goods or service

o goods or services – make or buy

How your business will sell its items

o means of delivering to customer, e.g. internet only, franchise, direct sales


Stakeholder: Who they are and how they might be affected

o stakeholders and their influence on the business, e.g. owners, employees,
customers, financiers, suppliers, local community

Finance

o finances and costs for start-up

Summary- Why the business will succeed

o providing evidence to justify why the idea will succeed


This provides evidence for
P6


M5 Present a realistic business model for a business, explaining how the format and business model will enable it to carry out its activities successfully
Date to be completed

Following the presentation of the business plan, a number of investors have raised concerns regarding the chosen business model. They are not business men and would like to understand how the business model fits with the type of ownership that you have selected for the business.

This provides evidence for
M5

D3 Present a realistic business model for a business, explaining how the format and supporting evidence justifies the initial business idea
Date to be completed

Having explained how the business format and model can enable the business to carry on in a successful manner, the investors have asked for you to provide evidence to back up what you have stated. Some of them are a little sceptical and would like concrete proof of how the business will be a success.

They should explain a vision that traces the steps along the way from the original idea to a plan for a business start-up that could be potentially successful.

In order to be successful with this task, you must ensure that you use the following advice:

1.     Come up with one idea that others have not considered and that responds creatively to market needs and will be able to articulate their thoughts well.

2.     Justify and evaluate the likelihood of success of the development of the business idea.

3.     Define what success is and use one or more sources of information, such as their business plan, to support judgements on whether the idea is likely to be successful, using comparisons to existing businesses.

This provides evidence for
D3

Task 7 – Bibliography
Date to be completed
You need to write a list of any books or internet websites that you have used to help you write this. information pack.

Task 8 – Contents Page
Date to be completed
You need to number all the pages of the information pack and make a contents page so that the students can easily find the information they need.

Task 9 – Front Cover
Date to be completed 
You need to create an attractive front cover for your work for this unit.

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