08 Oct New Venture – Launch Plan
NEW BUSINESS VENTURES AND ENTREPRENEURSHIP
New Venture – Launch Plan
OVERVIEW
In this assignment, you will continue your research and planning to design and implement a new product or service. Based on the innovative “big idea” and the vision that you developed in
Assignment 1, you will now write a Launch Plan, in which you describe your launch strategy, business model, and financial plan.
INSTRUCTIONS
Write a Launch Plan Paper of no fewer than 4 pages. In this second assignment, you will complete the middle four sections of your Business Plan: Sections V, VI, VII and VIII in the template.
You will follow ONE of the three Options below, depending whether you are planning your new venture as an Intrapreneur, Entrepreneur, or Nonprofit Leader. Make sure you work with the template that matches your chosen Option.
Option A – INTRAPRENEUR
NEW CONCEPT LAUNCH STRATEGY
o What are the key objectives in this intrapreneurial proposal?
o What strategies would be used to meet those objectives?
o In what time frame would these objectives be met?
IMPACT ON THE BUSINESS MODEL
o Does the new product or service line fit within the current company’s mission, vision, and values? If not, does the mission, vision, or values need changing?
o How complementary is the new product or service line to the existing products or services of your company? What does the new line add that will benefit existing customers? How could it attract the interest of potential new customers?
o What licensing or regulations will you need to be aware of to operate your new product or service line?
REVENUE STREAMS
Represents the cash a company generates from each Customer Segment (costs must be subtracted from revenues to create earnings).
o For what do customers currently pay? (i.e., what are they buying from your competition?)
o How are customers currently paying? (i.e., subscriptions, contracts, cash)
o What are your revenue streams? (products, services, subscriptions)
§ How much does each Revenue Stream contribute to overall revenues?
(these will be the numbers that go into your income statement)
FINANCIAL STRUCTURE and COSTS
o Summary Income Statement: create a profit and loss statement summary by year and project the profit and loss data out three years. Use one of the Performance Spreadsheets in your Assignment 2 Resources.
o Provide a narrative describing the numbers in the Summary Income Statement and explain why the numbers are valid.
o Assuming the new product or service line is launched as part of the existing organization, can it be funded with existing capital? If not, what are the proposed source(s) of funding?
o If the decision was to create a new subsidiary (or joint venture), will funding come from the existing organization (or, if a joint venture, from existing organizations)? If not, what are the proposed sources of funding?
Option B – ENTREPRENEUR
NEW BUSINESS LAUNCH STRATEGY
o What objectives will you achieve if you get your funding?
o What strategies would be used to meet those objectives?
o In what time frame would these objectives be met?
BUSINESS MODEL
o What legal structure will be used for this business and why? Use the source below to learn about your different business structure options:
Research Source: https://www.sba.gov/business-guide/launch-yourbusiness/choose-business-structure)
o What licensing or regulations will you need to be aware of to operate your new business?
o What are the key activities needed to launch this business?
o What are the key resources and distribution channels – i.e., how will your customers access your product/service?
REVENUE STREAMS
Represents the cash a company generates from each Customer Segment (costs must be subtracted from revenues to create earnings).
o For what do customers currently pay? (i.e., what are they buying from your competition?)
o How are customers currently paying? (i.e., subscriptions, contracts, cash)
o What are your revenue streams? (products, services, subscriptions)
§ How much does each Revenue Stream contribute to overall revenues?
(these will be the numbers that go into your income statement)
FINANCIAL STRUCTURE and COSTS
o Summary Income Statement: provide a profit and loss statement summary by year and project the profit and loss data out three years. Use one of the ProForma
Spreadsheets or the SCORE Projections Template in your Assignment 2 Resources.
o Provide a narrative describing the numbers in your Summary Income Statement and explain why the numbers are valid.
Option C – NONPROFIT
NONPROFIT LAUNCH STRATEGY
o What are the key objectives in this nonprofit proposal?
o What strategies would be used to meet those objectives?
o In what time frame would these objectives be met?
ORGANIZATIONAL STRUCTURE
o What type or category of nonprofit organization do you plan to create?
Research Source: https://www.usa.gov/start-nonprofit
o What are the key activities needed to launch this organization?
o How will you identify the best targets for your initial outreach and projects?
o What licensing or regulations will you need to be aware of to operate your nonprofit?
OPERATIONAL STRATEGY
An operational plan describes how your nonprofit organization plans to deliver its communityfocused activities.
o How will you plan to manage and maintain your operations?
o What metrics will you use to evaluate the impact of your programs?
o What partners will you need to operate the nonprofit?
FINANCIAL and FUNDRAISING PLAN
o In fundraising, how will you achieve the levels of funding required to successfully carry out your mission or meet the objectives of a specific project?
o If you exceed your fundraising goals, what will be done with the surplus?
o What will you do if you don’t meet your fundraising goals?
o How much would be an appropriate amount to cover payroll and administrative costs over time?
o Create a spreadsheet to account for your funding needs. Use the Nonprofit Budget
Template in your Assignment 2 Resources. Three years of projections are required.
o Include a narrative explaining the numbers in the Nonprofit Budget spreadsheet
(e.g., How much would be an appropriate amount to cover payroll and administrative costs over time?)
FORMATTING
§ Typed, double-spaced, using Ariel or Times New Roman font (size 11 or 12) with oneinch margins on all sides; references must follow JWMI Writing Standards format.
Check with your professor for any additional instructions.
§ Your Summary Income Statement or Nonprofit Budget spreadsheet may be included in the body of your document or placed at the end of your document in an Appendix.
§ Include a Cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date.
§ Include a References page to identify your sources.
Note: The Cover page, References page, and Appendix (if used) are not included in the required page length.
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