Preparing Effective Business Plans An Entrepreneurial Approach

by Barringer, Bruce R.

• ISBN13: 9780132318327
• ISBN10: 0132318326
• Edition: 1st
• Format: Paperback
• Copyright: 2008-01-02
• Publisher: Prentice Hall

Summary

Welcome to the Entrepreneurial Revolution. In this time of rapid change and amazing opportunity, the Prentice Hall Entrepreneurship Series has been created to provide direction, guidance, and insight to faculty members and students interested in pursuing an entrepreneurial path. This evolving series features top scholars in the field sharing their perspectives on the most critical issues and challenges in the emerging field of entrepreneurship. The books in the series are purposely designed to emphasize flexibility and innovation in the entrepreneurship curriculum and classroom. As a central theme, entrepreneurship is approached as a way of thinking and acting that can be applied in all walks of life. The series addresses both the contexts for (e.g., start-up firms, family businesses, high growth ventures, non-profits, corporations, the public sector) and the facilitators of entrepreneurship (e.g., creativity, planning, opportunity recognition, resources, networks, teams). The series has been developed and will continually evolve to present readers with a range of state-of-the-art perspectives that speak to individual aspects of entrepreneurship. We hope you enjoy your entrepreneurial journey! Book jacket.

Table of Contents

Preface	p. xiii
About the Author	p. xvii
Starting the Process	p. 1
Why Plan?	p. 1
Introduction	p. 1
Reasons for Writing a Business Plan	p. 2
Who Reads the Business Plan and What Are They Looking For?	p. 6
Guidelines for Writing a Business Plan	p. 8
Types of Businesses	p. 13
The Plan for the Book	p. 14
Chapter Summary	p. 17
Review Questions	p. 18
Application Questions	p. 19
Endnotes	p. 20
What to do Before the Business Plan is Written	p. 21
Developing and Screening Business Ideas	p. 21
Introduction	p. 21
Three Most Common Sources of New Business Ideas	p. 22
Changing Environmental Trends	p. 23
Technological Advances	p. 26
Political Action and Regulatory Changes	p. 26
Unsolved Problems	p. 27
Gaps in the Marketplace	p. 28
Techniques for Generating Ideas	p. 32
Brainstorming	p. 32
Focus Groups	p. 33
Library and Internet Research	p. 34
First Screen	p. 35
Strength of the Business Idea	p. 36
Industry-Related Issues	p. 37
Market- and Customer-Related Issues	p. 38
Founder- (or Founders-) Related Issues	p. 39
Financial Issues	p. 40
Chapter Summary	p. 41
Review Questions	p. 42
Application Questions	p. 42
Endnotes	p. 43
First Screen	p. 44
Internet Resource Table	p. 48
Feasibility Analysis	p. 53
Introduction	p. 53
Template for Completing a Feasibility Analysis	p. 54
Product/Service Feasibility	p. 56
Industry/Target Market Feasibility Analysis	p. 60
Organizational Feasibility Analysis	p. 63
Financial Feasibility Analysis	p. 65
Chapter Summary	p. 67
Review Questions	p. 68
Application Questions	p. 68
Endnotes	p. 69
Full Feasibility Analysis	p. 70
Preparing a Business Plan	p. 81
Introductory Material, Executive Summary, and Description of the Business	p. 81
Introduction	p. 81
Cover Page and Table of Contents	p. 82
Cover Page	p. 82
Table of Contents	p. 83
Executive Summary	p. 83
Format	p. 83
Content	p. 87
Company Description	p. 88
Company History	p. 91
Mission Statement	p. 92
Products and Services	p. 93
Current Status	p. 94
Legal Status and Ownership	p. 95
Selecting the Name for a Business	p. 96
Primary Consideration in Naming a Business	p. 96
Legal Issues	p. 97
Chapter Summary	p. 98
Review Questions	p. 98
Application Questions	p. 99
Endnotes	p. 100
Industry Analysis	p. 101
Introduction	p. 101
Industry Definition	p. 103
Industry Size, Growth Rate, and Sales Projections	p. 104
Industry Size	p. 105
Industry Growth Rate	p. 107
Industry Sales Projections	p. 109
Industry Characteristics	p. 109
Industry Structure	p. 109
Nature of Participants	p. 113
Ratios	p. 114
Key Success Factors	p. 114
Industry Trends	p. 115
Environmental Trends	p. 116
Business Trends	p. 118
Long-Term Prospects	p. 118
How the Industry Analysis Affects and Is Affected by Other Sections of the Plan	p. 119
Chapter Summary	p. 120
Review Questions	p. 120
Application Questions	p. 121
Endnotes	p. 122
Market Analysis	p. 123
Introduction	p. 123
Market Segmentation and Target Market Selection	p. 124
Market Segmentation	p. 127
Selecting a Target Market	p. 128
Target Market Size and Trends	p. 129
Buyer Behavior	p. 133
Competior Analysis	p. 134
Identification of Direct, Indirect, and Future Competitors	p. 134
Competitive Analysis Grid	p. 138
Preparing the Content of an Effective Business Plan Presentation	p. 239
Sample Business Plan Presentation	p. 240
Chapter Summary	p. 253
Review Questions	p. 254
Application Questions	p. 255
Endnotes	p. 255
Name Index	p. 257
Subject Index	p. 259
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