Project: 2016 Fall - Business Planning Project

Step Description Expected Student Results
1 Students sign on to telementor and type biography
information
to prospective mentors.		 Acquire a telementor to aid them in writing and presenting
a
business plan.
2 Students type what has been written prior to working with a mentor. Students will list the top 3 problems their product/service is addressing Students will determine who their target customers will be. Students should at this time develop a name/logo for their company. Students should be able to communicate a single, clear compelling message that states why your product/service is different and worth buying. Students should be able to communicate the top 3 features of the product/service. Mentors role will include but not limited to: Read completed sections of the business plan created by students. Proofread and give suggestions on the overall plan. Teacher Role: Teach the concepts of data collection and market segmentation. Assist students in finding a location and the geographic data needed to analyze possible locations. Business idea proposal showing how mentor feedback was
incorporated.

The students will show, using a different text color, the
edited mentor feedback for each outcome of this project.
3 Students will have time to research their product/service from production to reaching the customer. They should also track costs related to this step of setting up the business. Mentor Role: Read completed sections of the business plan created by students. Proofread and give suggestions on the overall plan. Teacher Role: Teach the concepts of channel management and pathways to the customer. Students should be able to identify how the product will move from production to the consumer/customer.
4 Revenue Streams: Students should be able to communicate the revenue model of the proposed business. They should be able to describe the life time values, the total revenue, and the gross margin profit of operation in the first year of business and estimate this for the first 3 years. Mentor Role: Read completed sections of the business plan created by students. Proofread and give suggestions on the overall plan. Teacher Role: Teach the concepts of revenue streams and costs structures. Assist students in finding examples of similar businesses in the same industry to do a contrast and comparison. Students should be able to understand a simple revenue stream for a start up business.
5 Cost Structure: Students will determine the customer acquisition costs, distribution costs, human resource costs, and any additional costs of operating the business. Suggested Mentor Role:1) Assist the student with any part of their business plan they are working on and have questions about.2) Proofread whatever has been uploaded for you to read. Suggested Teacher Role:1) Teach/preview concepts/meaning of questions and give assistance regarding parts of the business plan assigned 2)Monitor the flow of information between student & mentor. 3)Send letter to individual and/or all mentors explaining what is necessary for better understanding of the project and/or students, as needed. Student completes questions assigned on the business plan; Updates their portfolio of correspondence from mentors.The students will show, using a different text color, the edited mentor feedback for each outcome of this project.
6 Key Metrics: What are the key activities that must be measured? Competitive Advantage: What about your product/service means that it cannot be easily copied or bought? Suggested Mentor Role:1) Assist the student with any part of their business they are working on and have questions about.2) Proofread whatever has been uploaded for you to read. Suggested Teacher Role:1) Teach/preview concepts/meaning of questions and give assistance regarding parts of the business plan assigned 2)Monitor the flow of information between student & mentor. 3)Send letter to individual and/or all mentors explaining what is necessary for better understanding of the project and/or students, as needed. Teach student what are "Key Metrics" of the proposed business and why this is needed for start up. Remind students why they need to have a clear competitive advantage over the competition. Students should be researching during this step of the business plan.
7 Students will write a conclusion requesting financing and summary of key points supporting the financial request. Students will complete their business plan, correcting any errors after working with their mentor. They will type executive summary, bibliography, and complete their appendix sections. Suggested Mentor Role:1) Assist the student with any part of their business plan they are working on and have questions about.2) Proofread whatever has been uploaded for you to read. Suggested Teacher Role: 1) Teach/preview concepts/meaning of questions and give assistance regarding parts of the business plan assigned 2)Monitor the flow of information between student & mentor. 3)Send letter to individual and/or all mentors explaining what is necessary for better understanding of the project and/or students, as needed. Student completes questions assigned on the business plan;
Updates their portfolio of correspondence from mentors.
8 Students will have been given information on presentation
skills with a business plan presentation demonstration
during
this week. They will work on their oral presentation and
finalize any part of their business plan, contacting
mentors,
if necessary. This is for students that may have been
behind
due to absences. Their 10 minute presentation will begin
on
class on December 15th.

Student completes questions assigned on the business
plan;
Updates their portfolio of correspondence from mentors.		 Student completes questions assigned on the business plan;
Updates their portfolio of correspondence from mentors.
9 This time period is scheduled for oral business plan
presentations. Students will be informed business plans
that
meet the criteria to be entered into the DECA Career
Development Conference on February 8. During this time
students will write and thank mentors for their assistance,
inform mentors of who won the class competition, and
complete
a survey for this website.

STudents continuuing on to competition will keep working on
this step until January 20th.		 Students finalize the telementoring project with a thank
you
to mentors and evaluate their experiences with
telementoring.
10 Students who have created an exemplary plan will have the option to
perfect the plan and submit for DECA competition in mid January. If you
feel you student has been dedicated and hard working encourage them to
consider competition. 		Attending the DECA District, State and hopefully International levels of
competition.
11 Note to Mentors: This section will be an extra section developed by students or teams of students who would like to do the extended version of the business plan for competition. Their are 2 different plans that they can choose to enter for competition. The Planned financing is for the extended plan. I will suggest that students work on this after all the previous steps have been completed and perfected. The steps listed above should not exceed 11 pages and the extended project can be up to 30 pages. V. Planned Financing
A. Projected Income and expenses
(The following are recommended items to be included. You
may
select the appropriate items for your business.)
1. Projected income statements by month for the first
year's
operation (sales, expenses, profit/loss)
2. Projected cash flow for the first year
3. Projected cash flow by month for the first year's
operation
4. Projected balance sheet, end of the first year.
5. Projected three year plan
6. A brief narrative description of the planned growth of
the proposed business, including financial resources and
needs
B. Proposed plan to meet capital needs
(The following items are recommended for inclusion. You
may
select the appropriate items for your business.)
1. Personal and internal sources
2. Earnings, short-term and long-term borrowing, long-
term
equity
3. External sources
4. Short- term and long term borrowing, long-term equity
(if
applicable)
5. Repayment loans
6. Plan to repay borrowed funds or provide return on
investment to equity funds.

Suggested Mentor Role:

1) Assist the student with any part of their business
plan
they are working on and have questions about. Help
students
to understand which financial forms would be the best to
include in the business plan.
2) Proofread whatever has been uploaded for you to read.

Suggested Teacher Role:

1) Teach/preview concepts/meaning of questions and give
assistance regarding parts of the business plan assigned
2)Monitor the flow of information between student &
mentor.
3)Send letter to individual and/or all mentors explaining
what is necessary for better understanding of the project
and/or students, as needed.

 Student completes questions assigned on the business plan;
Updates their portfolio of correspondence from mentors.

The students will show, using a different text color, the
edited mentor feedback for each outcome of this project.
12 This step was added to allow students who wanted more help preparing for competition to receive it. Preparing for competition.