Business Plan

2021 NLC Topic:

Competitor’s Choice, Email Sheets for more details

Event Introduction

Business Plan is a ‘Prejudged Report And Presentation Event’. These events consist of two parts: a prejudged report and a presentation. Competitors are required to complete both parts for award eligibility. 

Business Plan is a Team or Individual Event. 

 

Guidelines

An effective business plan should include the following information:

  • Executive Summary provides a brief synopsis of the key points
    and strengths included in the plan.
  • Company Description includes basic details of the business, including an
    overview, location, legal structure, and organization.
  • Industry Analysis provides an analysis of the larger industry in which the
    business will belong; analyzes key trends and players in the industry;
    demonstrates an understanding and awareness of external business decisions.
  • Target Market provides a brief overview of the nature and accessibility of the
    targeted audience.
  • Competitive Analysis includes an honest and complete analysis of the business’
    competitionanddemonstratesanunderstandingofthebusiness’relative
    strengths and weaknesses.
  • MarketingPlanandSalesStrategydemonstrateshowthebusiness’productor
    service will be marketed and sold; includes both strategic and tactical elements
    of the marketing and sales approach.
  • Operations provides an overview of business operations on a day‐to‐day basis,
    including production processes, physical facility reviews, use of technology,
    and processes followed to ensure delivery of products or services.
  • Management and Organization describes the key participants in the new
    business venture and identifies human resources the business can draw upon as part of the management team, employee pool, consultants, directors, or advisers.Italsoportraystheroleeachwillplayinthebusiness’development and discusses compensation and incentives.
  • Long‐Term Development gives a clear vision of where the business will be in three (3), five (5), or more years. It offers an honest and complete evaluation of the business’ potential for success and failure and identifies priorities for directing future businessactivities.
  • Financials indicate the accounting methodology to be used by the business. Discuss any assumptions made in projecting future financial results. Present projections honestly and conservatively.
  • Appendix includes copies of key supporting documents (e.g., certifications, licenses, tax requirements, codes, letters of intent or advance contract, endorsements, etc.).
  • Note: Business must not have been in operation more than 12 months.

Number of pages: 15 (PDF upload)