Components of a Well-Written Business Plan: Components of a Well-Written Business Plan A Business Plan is a formal document that contains the business goals and how they can be achieved. It is a summary of what the business is doing and how will it grow in the future.: A Business Plan is a formal document that contains the business goals and how they can be achieved.
Ellis Island Background As a family with three small children, we are always going on outings where souvenirs are offered for sale. I am amazed at the prices charged for items that I find are usually of poor quality and little value.
The question always comes to my mind, "Why don't they offer something that the children will enjoy and at the same time get some benefit from it?
The buyer was interested and asked for a prototype to be put together. While working on it I ran into several problems: When talking to my children about the possibility of a Sea World kit they all were excited about coloring Shamu, but they did NOT want to send him to anyone.
They wanted to keep the card for themselves. This defeated the purpose of a greeting card of any kind.
To do a custom sticker and in the future for all customized kits would raise the per unit cost because of low volume runs for the custom stickers. Then one night on the way home from seeing a movie with my children, I was asking them questions about the story and characters.
When one of them got an answer correct, my daughter gave them a pretend sticker. The concept fell in place.
Parameters Each kit will have six different cards in it and each card will have six questions on it. The questions will teach the child some basic facts about the subject, but in a fun way.
To present them as a "school lesson" would discourage children from wanting to complete it and from wanting to do other sets. A standardized Blue Ribbon sticker will be used for all sets of cards. The sticker will be printed on clear material so that no matter where the child places the sticker on the picture, the picture will show through and the ribbon will simulate a prize such as given at a fair.
The sets are packaged in a manner similar to the card making kits so customers will know they come from the same company. This will help to increase brand awareness and hopefully create in purchasers of one line a desire to try other products. The cards will be printed on heavy stock so they will be durable.
The cards will have rounded corners to give them a finished look and to keep them from fraying while children complete and collect them. Children will be encouraged to collect all the different packs. A collector's album as an accessory is being considered as a future product.
Flexibility must be maintained so that we can provide quick turn around and low minimum order quantities to encourage customized kits.
The current line of Card Facts meets all these parameters. There is a large potential for customized Card Facts. We have just completed our first one, which was done for the company that has the concession contract at Ellis Island.
Product was shipped in time for the re-opening.
Sales so far have pleased the buyer, who is considering customized sets for some of their other tourist locations.This article is part of our “ Business Planning Guide “ —a curated list of our articles that will help you with the planning process!
What is a business plan? In its simplest form, a business plan is a guide—a roadmap for your business that outlines goals and details how you plan to achieve those goals.
Frank Strong is the communications director for the LexisNexis software division located on NC State’s Centennial Campus in Raleigh. In this capacity, he leads communications efforts in support of software products for law practice and law department management and also litigation tools – across large law, small law and corporate counsel segments.
This article is part of both our Business Startup Guide and our Business Planning Guide —curated lists of our articles that will get you up and running in no time!.
If you’ve reviewed what a business plan is, and why you need one to start and grow your business, then it’s time to dig into the process of actually writing a business plan..
In this step-by-step guide, I’ll take you. Presenting components of business plan executive summary powerpoint guide. This is a components of business plan executive summary powerpoint guide. This is a four stage process.
The stages in this process are business plan executive summary, execution summary, business strategy. Elements of a Business Plan There are seven major sections of a business plan, and each one is a complex document. Read this selection from our business plan tutorial to fully understand these.
Every successful business must have a plan to make money through the products or services that business provides; so naturally, a good business plan must include a section about the core revenue model of the company.