Enterprise Description

EXECUTIVE SUMMARY
 Description of Business: Provide some information about the product or service you
wish to offer.
 The Market: What markets do you intend to target?
 Growth Potential: What is the potential for your business? (What do you hope to
achieve in one to three years’ time?)
 Sales & Profit Forecast: Give a summary of the sales and profit forecast figures
(for the next three years).
 Financial Requirements: How much money would you require
o To start the business.
o To sustain your business during the first three years.
 Utilization of Finances: What will the loan/overdraft/investment be used for?
 Where will you source your funding from: Loan, Bank Overdraft, Personal funds?
 Repayment of Loans: How long do you expect the loan repayment period to be?
 List of Critical Issues for the Success of the Project: Present a list of the
critical success factors most likely to affect your project.
 Assistance required: What assistance would you require to help you launch your
project?
ENTERPRISE DESCRIPTION
 Provide an overview of your business idea
 What inspired you to choose this line of business?
 What personal qualities and experience will you invest in the business?
 In what way is your concept innovative? What are you offering that other businesses
do not offer already?
 Do you believe there is a real need for your product or service?
 Where do you see your business in the medium and long term?
PRODUCT OR SERVICE DESCRIPTION

 Provide a detailed description of your product or service.
 What innovative features does your product or service offer?
 How does your product or service distinguish itself from other products or services
already existing on the market?
 Can you list three unique selling points offered by your product or service?
 How will your product or service satisfy client needs and expectations?
INDUSTRY ANALYSIS
 How big is the sector you will be operating in?

 How many companies already operate in this sector?
 What are the general sector trends? Is it growing, static or slowing down?
 Can you perceive any important changes in this sector?
 How can these changes affect your business?
 Are you aware of any Political, Economic, Social, Technological, Legislative or
Environmental changes that could seriously affect your business in the medium or
long term? This is known as the PESTLE analysis.
 How desirable do you consider this sector to be for new, local entrants and from
other EU areas?
COMPETITION ANALYSIS
 Who are your most important competitors?

 What are their main strengths and weaknesses?
 How can you be different?
 How can your product or service be more competitive?
 What are your competitors’ pricing policies? How do these affect your sales
strategies?
 Can you list your main competitors and their estimated market share?
SWOT ANALYSIS
 Strengths
 Provide a list of your core competencies that give your product or service certain
advantages.
 (Example: High quality, competitive pricing, customer care)
 Weaknesses
 Given the necessary resources, which areas of your business would you need to
improve?
 (Example: Lack of funds, lack of management skills, unskilled workforce)
 Opportunities
 Given the right conditions, which business opportunities can you identify for
growth and greater profitability?
 (Example: New markets, export potential, joint venture proposal)
 Threats
 Think about possible factors which could adversely affect your business in the
future.
 (Example: Imported products, new entrants, political and economic changes)
MARKETING SUB-PLAN
 The Product
 List three important features that make your product or service worth having.
Example: design, functionality, reliability.
 List three features where you think your product or service could be improved.
 Can you list three major competitors that offer similar products or services to
yours? Can you identify differences between your product and theirs?
 In what aspects can your product or service be described as innovative?
 What image do you want to project with your product or service?
 Do you have any plans to add more products or services to your current portfolio?
 The Customer
 Will your business depend on one main customer or will you sell to a wide variety
of customers?
 If you plan to sell to a wide variety of customers, list five types of customers
that are likely to buy your product or service.
 Do you plan to have a uniform approach to all customer groups or will you vary your
strategies accordingly?
 What measures will you employ to identify customer requirements with regard to your
product or service?
 How do you plan to collect customer feedback in order to ensure that your product
or service has a high degree of customer satisfaction?
 The Place
 Where do you plan to sell your product or service?
 Directly from the factory
 From a showroom
 E-Commerce
 Other (give details)
 How easy will it be for your customers to gain access to your products or services?
Give details.
 If you feel that customers will find it difficult to access your products, can you
suggest ways of improving the situation?
 Mention three ways in which your competitors facilitate access to their products or
services for their customers.
 How do you plan to get the product to the market?
 Distribute the product yourself?
 Employ full/part-time salesmen?
 Enter into a distribution agreement with third parties?
 Online sales
 The Method
 What methods of advertising do you intend to use for your product or service?
 Newspapers and magazines
 Television
 Radio
 Sponsorships
 Internet (websites, e-newsletters, search engine optimization)
 Other (specify)
 If you intend to use any of the media mentioned above, which do you rate as the
most effective and why?
 How do your competitors advertise their products? Do you think their methods are
effective?
 How will you price your products? Explain the reasons behind your pricing
strategies.
 How will your prices compare with those of your competitors?
 Do you intend to give your customers credit? Explain the reasons behind your
decision
OPERATIONS SUB-PLAN
 Do you already have business premises or are you planning to buy/lease/rent them in
the near future?
 Give details of your business location and premises
 How long and how well will the present premises (if any) meet your business needs?
 Are the business premises you have identified easily accessible to your clients?
 Give details of equipment/machinery/vehicles you will require to operate your
business (such as purpose, current value and future replacement date)
 Give details of equipment/other items which you plan to acquire or lease in the
near future (such as purpose, costs and credit terms)
 Make up a list of your main suppliers and their credit terms
 Plan on contingency suppliers in case of emergencies
 Do you intend to operate a quality management system of any sort? Are you planning
to apply for quality certification?
 What type of quality system?
 Who will take charge of implementing it?
 What are the timings for its introduction?
 Ensure you are conformant with Health and Safety and/or Environmental regulations
relevant to your business
THE BUDGET
 Prepare a detailed budget

 Plan periodical reviews of actual performance against budget
 Prepare a corrective action plan for the variances that will inevitably occur
 Set the basis for the Return on Investment you wish the business to give you

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EXECUTIVE SUMMARY

PRODUCT OR SERVICE DESCRIPTION

 How big is the sector you will be operating in?

 Who are your most important competitors?

 Prepare a detailed budget

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