What do you remember from ‘Developing Business Plans’ ….

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Developing Business Plans (Part 2)

Module 1 – Growing a Business Idea

By the end of this lesson you should be able to:

1. Recognise and discuss problems for small business planning.

2. Apply understanding of business plans and create based on business scenario.

3. Discuss business plan with the rest of the group.

Learning Objectives

The entrepreneur may not feel that they have enough of this to devote to putting together

a business plan.

TIME

Problems for small businesses

LO1) Recognise and discuss problems for small business planning.

Although not obvious when creating a business plan, time could incur this. Advice and guidance could also use this resource.

MONEY

Problems for small businesses

LO1) Recognise and discuss problems for small business planning.

The entrepreneur may lack enough of this to initially be able to construct a business plan.

EXPERTISE

Problems for small businesses

LO1) Recognise and discuss problems for small business planning.

Some people may feel that the time spent on a business plan is wasted when it could be spent

actually trading.

OPPORTUNITY COST

Problems for small businesses

LO1) Recognise and discuss problems for small business planning.

LO2) Apply understanding of business plans and create based on business scenario.

Your challenge is to create a business plan for a given organisation.

You are looking for an investment of £100,000.

You can present your business plan using any format – so be creative!.

Remember – you will need to pitch your plan to the potential investor.

Don’t forget to include the sections:

• Executive Summary• Business

Description• Product or service• Market Analysis• Strategy and

Implementation• Management Team• Financial Plan

You now need to observe each pitch and give it a score out of 90 using the set criteria.

Would you be willing to invest £100,000?

Would you invest £100,000?

LO3) Discuss business plan with the rest of the group.

Go to your email and open the Barclays worksheet.

Use the case study to answer the questions.

Real businesses in action!

Create a question based on todays lesson.

Email it to your teacher.

Finally…..

You should now be able to:

1. Recognise and discuss problems for small business planning.

2. Apply understanding of business plans and create based on business scenario.

3. Present business plan with the rest of the group.

Re-cap Learning Objectives