Global Entrepreneurship Week (GEW) 2017

Critical Elements of the Business Plan:

1. Executive Summary

  • Is the summary an effective synopsis of the overall business plan?
  • Does the summary pique the interest of the reader?
  • Does the summary provide an engaging vision of the company

2. Product or Service to be offered

  • Does the plan effectively communicate the features and benefits of the product or service brought to the market?
  • Does the plan effectively communicate the USP of the product/service and how this competitive advantage will be maintained? ¬†

3. Market Opportunity

  • Does the plan effectively describe the market in which the business intends to compete?
  • Does the plan identify the current market size and potential growth?
  • Does the plan identify the key characteristics of the market relevant to the competitive positioning and how this opportunity will be exploited?
  • Does the plan effectively analyze the nature of competition within the market?
  • Does the plan identify the target customer group?

4. Marketing/Sales

  • Does the plan indicate how the product/service will be distributed and the product/services’ revenue and pricing model?
  • Does the plan include an appropriate promotional strategy that is realistic when compared to the assigned marketing budget?

5. Team & Operations

  • Does the plan effectively highlight the expertise of the individual(s) within the business and identify any human resource ‘gaps’ and appropriate measures to resolve these issues?
  • Does the plan include a plan for the production/delivery of the product or service?
  • Does the plan address the issues of operational complexity, resource requirements and operational risks appropriately?

6. Financials & Risks and Sensitivities

  • Does the plan explain key assumptions and features of the financial model?
  • Does the plan include detailed income and expenditure and cash flow forecasts?
  • Does the plan detail the level of working capital required to run the business?
  • Does the plan identify the nature of potential returns?
  • Are the financial forecasts realistic?

7. Clarity

  • Is the plan written in a well-structured, clear and concise manner?
  • Is the plan free from grammatical and spelling mistakes?

8. Likelihood of obtaining SMART feasibility funding

  • Is the SMART Section Completed?
  • Is the proposal technically innovative?

9. Likelihood of company formation within 12 months

  • How likely is it that a company will be formed within the next 12 months?
  • What are key factors that suggest a company can be formed in 12 months?
  • What are the barriers that will prevent company formation within 12 months?