2013 Green Light Business Model Plan Competition Application
1. Fill out the form according to the specified word count. 2. Send your financials to Paul Jaques at
Your Business Name
Address Line 1
City, State, ZIP code
If a student, from what University or College
Executive Summary (500 words) MAX
-Explain the fundamentals of the proposed business: What will your product be? Who will your customers be? Who are the owners? What do you think the future holds for your business and your industry? -What business will you be in? What will you do? Mission Statement: Many companies have a brief mission statement, usually in 30 words or fewer, explaining their reason for being and their guiding principles. If you want to draft a missionstatement, this is a good place to put it in the plan, followed by: Company Goals and Objectives: Goals are destinations—where you want your business to be. Objectives are progress markers along the way to goal achievement. For example, a goal might be to have a healthy, successful company that is a leader in customer service and that has a loyal customer following. Objectives might be annual sales targets and some specific measures of customer satisfaction. Business Philosophy: What is important to you in business? To whom will you market your products? (State it briefly here—you will do a more thorough explanation in the Marketing Plan section). Describe your industry. Is it a growth industry? What changes do you foresee in the industry, short term and long term? How will your company be poised to take advantage of them? Describe your most important company strengths and core competencies. What factors will make the company succeed? What do you think your major competitive strengths will be? What background experience, skills, and strengths do you personally bring to this new venture? Legal form of ownership: Sole proprietor, Partnership, Corporation, Limited liability corporation (LLC)? Why have you selected this form?
Products and Services (500 words) MAX
Describe in depth your products or services (technical specifications, drawings, photos, sales brochures, and other bulky items belong in Appendices). What factors will give you competitive advantages or disadvantages? Examples include level of quality or unique or proprietary features. What are the pricing, fee, or leasing structures of your products or services?
Features and Benefits (500 words) MAX
List all of your major products or services. For each product or service: • Describe the most important features. What is special about it? • Describe the benefits. That is, what will the product do for the customer? Note the difference between features and benefits, and think about them. For example, a house that gives shelter and lasts a long time is made with certain materials and to a certain design; those are its features. Its benefits include pride of ownership, financial security, providing for the family, and inclusion in a neighborhood. You build features into your product so that you can sell the benefits. What after‐sale services will you give? Some examples are delivery, warranty, service contracts, support, follow‐up, and refund policy.
Customers and Competition (500 words) MAX
Identify your targeted customers, their characteristics, and their geographic locations, otherwise known as their demographics. The description will be completely different depending on whether you plan to sell to other businesses or directly to consumers. If you sell a consumer product, but sell it through achannel of distributors, wholesalers, and retailers, you must carefully analyze both the end consumer and the middleman businesses to which you sell. You may have more than one customer group. Identify the most important groups. Then, for each customer group, construct what is called a demographic profile: • Age • Gender • Location Income level: • Social class and occupation • Education • Other (specific to your industry) • Other (specific to your industry) For business customers, the demographic factors might be: • Industry (or portion of an industry) • Location • Size of firm • Quality, technology, and price preferences • Other (specific to your industry) • Other (specific to your industry) Competition What products and companies will compete with you? List your major competitors: (Names and addresses) Will they compete with you across the board, or just for certain products, certain customers, or in certain locations? Will you have important indirect competitors? (For example, video rental stores compete with theaters, although they are different types of businesses.) How will your products or services compare with the competition?
Financial Plan plus discussion (500 words discussing the financials and 500 words of financials) MAX
The financial plan consists of a 12‐month profit and loss projection, a four‐year profit and loss projection (optional), a cash‐flow projection, a projected balance sheet, and a break‐even calculation. Together they constitute a reasonable estimate of your companyʹs financial future. More important, the process of thinking through the financial plan will improve your insight into the inner financial workings of your company. Three-Year Profit and Loss Projection Many business owners think of the Profit and Loss Projection as the centerpiece of their plan. This is where you put it all together in numbers and get an idea of what it will take to make a profit and be successful. Your sales projections will come from a sales forecast in which you forecast sales, cost of goods sold, expenses, and profit month‐by‐month for one year. Profit projections should be accompanied by a narrative explaining the major assumptions used to estimate company income and expenses. Research Notes: Keep careful notes on your research and assumptions, so that you can explain them later if necessary, and also so that you can go back to your sources when it’s time to revise your plan.
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