https://www.youtube.com/watch?v=ZEMbKzy7FD8
1. If you have not yet done so, read the Appendix in the back of the book entitled Building a Business Plan, which covers the purpose and importance of a business plan and outlines the key parts of a business plan
. Although we don’t put together a formal business plan for this course, we will cover most of these elements in our basic business plan assignments.
2. Watch this short but informative video on How to Write a Business Plan (Links to an external site.) by Gillian Perkins.
The Perkins approach to writing a business plan is much less formal than the one outlined in the textbook, but it still contains some useful information. I would say that the textbook version is one you would follow if you were using your Business Plan to attract investors or get funding from a bank (i.e. external purposes), whereas the Perkins version would best be used as a personal guide for starting your business (i.e. internal purposes). This assignment will focus on the “Messaging” element of the Perkins video (beginning just before the 3-minute mark).
2. Click the Reply button below to create a discussion post (minimum 250 words) in which you address the following “MESSAGING” items for the business you introduced in the last BP assignment. Although it may seem like you are revisiting some of the things you considered last week, it is important to continue thinking about how and why you exist and the value you will bring to the marketplace.
o Answer/address each of the following in order (1-6).
o For Business Plan assignments only, number each response so we can easily differentiate your answers. Do not write out the prompt before answering it!
1. Who does your company serve?
2. What problem does your company solve for your customers?
3. What result does your company create for those customers?
4. How does your company create those results?
5. Why does your company do what you do?
6. Why should your customers choose you over your competition?
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