Workbook

BA 499

Workbook Description

Scope:

This is a workbook that encompasses some of the more pertinent information that would be helpful to you if you were to start-up a new small business.

Instructions:

Create a written report with the following information separated into sections for the small business you have selected to start-up. You may include additional information in any section as needed to document the start-up of this new business.

1. Name of business and business owner

1. Description of business

1. Description of start-up business opportunity

1. Your motivation for starting a new small business; Why do you want to start this new business?

1. Legal entity of business (e.g. corporation, sole proprietorship, etc.); Your reasons for selecting this form of business

1. Core competencies; What the business does best - skills and knowledge - to allow it to succeed in its business?

1. Business goals; What do you want to accomplish?

1. Business strategies; How will you accomplish these goals?

1. Business benefits from goals; Why do the business – value of the goals?

1. Mission statement for the business

1. Your vision for the future of the business

1. Products and/or services of the business

1. Why would customers want to buy your products or services?; What is your competitive advantage?

1. What competing products/services exist in your marketplace?

1. What is your marketplace?

1. Target market (include some demographics of target market); Who are the primary customers for your business?

1. Industry in which business will compete

1. Maturity of industry and how will your business succeed in the industry at the industry’s level of maturity?

1. Describe your major competitors

1. Describe your competitors’ primary competitive advantages and compare theirs to your company’s competitive advantage

1. Management team; their strengths and weaknesses that will affect the success of the company

1. Description of key employee positions that will have the greatest impact on the success of the company, include job names and job descriptions with responsibilities and skills required for the positions

1. Describe the hiring process for new employees; How will you know you have hired the right person for the right job in your company?

1. Organization chart for the company

1. Describe the key operational processes that will have the most impact on the success of the company. The key job descriptions should be associated with these processes.

1. Describe how quality will be used to manage the operations of the company. Will TQM be used? If so, how?

1. Provide your estimate of the start-up expenses, including the first year operational expenses of the business (Use the Income Statement format)

1. Identify the key financial performance criteria; What are the key financial success factors for your business?

1. Identify the sources of funding for the start-up expenses for your company, include first year operational expenses

1. Describe how the company’s finances will be managed; Who will manage what finances?

1. Describe any technology key to the successful start-up of your new business

1. Describe any government regulations that will impact the start-up of your company

1. If you, the business owner, could have free small business start-up consulting services, what would you ask the consultant to do to help you with the start-up of your new business?

J Kinard Fall, 2010