Digital Publication Business Plan

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Digital Publication Business Plan

Based on the given structure and draft presentation, create an outline of a more detailed business plan that would be usable for further work.

Key areas

Professional business standard Idea clearly stated
Market identified
Value of market identified Competition

Required investment What the investor gets

 

  • ✓  Cover page contains name of business
  • ✓  Cover page contains chief executive’s name
  • ✓  Cover page contains address, telephone, fax numbers, e-mail, and Web address
  • ✓  Cover page contains company logo
  • ✓  Page numbers in Table of Contents correspond correctly
  • ✓  Executive summary does not exceed two pages and describes the new venture
  • ✓  Executive summary describes the identified problem and the unique features and

benefits of the product/service

  • ✓  Executive summary identifies the management team and supporting infrastructure
  • ✓  Executive summary explains the opportunities found within the industry
  • ✓  Executive summary contains plans for targeting a market segment and

penetrating it

  • ✓  Executive summary specifies how much money the company needs and how

funds will be obtained

Business Opportunity

What is the business opportunity?

Description of the opportunity in layman’s terms
Idea background including technical feasibility,
IP position, stage of development etc.

Who started it, how the team has grown Achievements to date

  • ✓  Describes the industry in plain language (not too technical)
  • ✓  Describes product/service in specific terms (not too broad)
  • ✓  Describes how intellectual property will be created and protected
  • ✓  Identifies who started the business and how the team has developed throughout

time

  • ✓  Identifies what has been achieved to date

Product/ Service

What are the features and benefits of the product

What is its USP?
What is the proposed business model for the venture i.e. how is it going to generate profits?
Description of the product roadmap
Has the business model been proven elsewhere?

  • ✓  Describes product/service in plain language (not too technical)
  • ✓  Provides evidence that the product/service is technologically feasible
  • ✓  Identifies unique features
  • ✓  Identifies special benefits
  • ✓  Wholly explains product/service limitations and potential solutions
  • ✓  Wholly explains product/service liabilities and potential solutions
  • ✓  If applicable, identifies production process and facility plans
  • ✓  Provides backup suppliers and subcontractors
  • ✓  Anticipates future related products/services and spin-offs
  • ✓  Lists requirements from regulatory agencies

Market/ Competition

Which aspects of the broad business environment have a key impact on the commercialisation of the
business idea?
What are the likely markets for the products / services and the key drivers and trends within those markets?
 What market segments have real opportunities? How big are they / will they be?

What is the ‘idea’ competing with and how may the competition develop in the near future?
Who are the key competitors and how are they competing in the market. How does the business propose to promote and sell its products or services?

  • ✓  Focuses on current size and growth potential of the industry
  • ✓  Discusses industry trends and opportunities associated with each
  • ✓  Addresses geographic locations, seasonality, and industry profit characteristics
  • ✓  Identifies customer needs and wants
  • ✓  Identifies existing distribution networks
  • ✓  Identifies direct, indirect and future competition
  • ✓  Contains matrix to illustrate competitive position in marketplace
  • ✓  Describes competitive advantage

Marketing

What do potential customers want and who are they? Plan What are the specific plans to promote the product/service?

How will it be distributed?
Do you need any partners in the distribution channel? What is the pricing strategy?

  • ✓  Contains customer profile
  • ✓  Contains target markets and size of each
  • ✓  Fully illustrates the image of the company
  • ✓  Describes plans to reach the market, including customer service, location, sales force, licensing and distributing
  • ✓  Addresses plans for advertising and promotion
  • ✓  Includes plans for marketing through technology, including the internet
  • ✓  Discusses other penetration strategies, including publicity, telemarketing/direct mail, Web site, and trade shows
  • ✓  Describes plans for evaluating market penetration effectiveness
  • ✓  Addresses pricing strategy
  • ✓  Contains price sheet
  • ✓  Includes volume and special pricing information
  • ✓  Contains the company’s pricing policies

 

Business Organisation

What key resources (people, premises, equipment etc.) are required for operations?
What resources are available and how could other resources be obtained?

How is the business going to be managed?

  • ✓  Explains the legal form of business
  • ✓  Lists key management positions, including primary job responsibilities
 Identifies the board of directors/advisory board members, including primary contributions expected
  • ✓  Documents the process of recruiting and selecting employees
  • ✓  Clarifies the compensation and employee reward systems
  • ✓  Establishes credibility of the management team

Implementation Milestones

What are the key stages/milestones for the venture’s development?
Achievements to date
Outline concrete plans and milestones

Receipt of first order/sale When will you break-even? When will you run out of cash?

  • ✓  Explains the venture’s specific and critical undertakings
  • ✓  Lists key milestones with a start and an end date
  • ✓  Designates who is responsible for the milestone
  • ✓  Establishes a budget for each milestone

Business Barriers / Risks

What are the barriers to success / risks?

Which of these are the most significant and how
can the venture operate to minimise these?

  • ✓  Lists major risks to success, such as product, market, people, financial, competitive
  • ✓  Clarifies which of these are more important than others and how the venture plans to respond to these risks
  • ✓  Reassures the investors that the venture has anticipated and dealt with major risks

 

Financials

What is the forecasted performance of the venture 10% over the next three years?
Projected cash flow forecast, P&L and Balance Sheet must be included (ideally 3 yrs)

How much investment is required to develop the business over the plan’s timeframe?
Which are the most appropriate sources of finance? When will the business break even?

  • ✓  Sales and profit projections appear to be reasonable
  • ✓  Assumptions and projections are wholly supported
  • ✓  All operating expenses have been included
  • ✓  Hidden costs have been identified
  • ✓  Salaries and other benefits are in line with industry standards or entrepreneur’s goals
  • ✓  Contingency plan seems reasonable if sales forecasts go unmet
  • ✓  Figures on various documents are consistent
  • ✓  Sources of debt or equity financing are appropriately identified
  • ✓  Exit strategy is clearly identified

 

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