Business opportunities are like air – they are always around, even though you may not realize it. What sets entrepreneurs apart from everyone else is their ability to see the potential that others overlook and then take the bold steps necessary to get business up and running.

The team will need to do some research to come up with an e-innovative product and/or service that the members feel will be marketable. There are no restrictions to what can be thought of in terms of product and/or service.

 

Once you have an e-idea, as a team you are then required to write and submit a business plan. The plan must be for a seed, start-up, or early stage e-business venture and must conform to the layout below:

  • Executive summary
  • Business description
    • General description of business
    • Industry background
    • Uniqueness of product or service
    • Product/ service features
  • Marketing
    • Target market (customers) identified
    • Market size and trends
    • Competition
    • Estimated market share
    • Market strategy—sales and distribution
    • Pricing
    • Advertising and promotions
  • Operations
    • Identify location: advantages
    • Personnel needs and uses
    • Proximity to suppliers
  • Management
    • Management team—key personnel
    • Board of directors, advisors, consultants
  • Competitor analysis
  • Revenue model
  • Income statement
  • Harvest strategy
    • Liquidity event (IPO or sale)
    • Continuity of business strategy
    • Identify successor

 

  • Timeline
  • Critical Risks
    • Potential problems
    • Obstacles and risks
    • Alternative courses of action

 

  • Conclusion
  • Appendices

 

Students are asked to create

  • A video.
  • Power point presentation.
  • A written report.

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