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STEM: Business Plan: Start Here

STEM Business Plan - sources used to compile a business plan for Lawnba (robotic mower product)

Guide Contents

Welcome to the Business Research Academy B-Plan Workshop. 

Logistics

  • Break into 7 groups of (3-6 students each---depending on class size) 
  • If your group has an idea for b-plans that would be great- if not, we have a few ideas of some local area developments that can be used.
  • Each group, using their computers, will work through using the databases they have been exposed to in the Business Research Academy this semester and draft a b-plan for their ideas. 
  • Mark and I will talk you through the sections and answer any questions as you're working in groups. 
  • We'll use the 8 sections of the b-plan---that we used in the Academy---as the outline; e.g. Exec. Summary, Bus. Description, Industry analysis, etc. etc. 
  • During the last 15-20 min. of class we would like to  have one rep. from each group stand up and present one portion of the business plan and how they fared with their searches for content and/or b-plan composition. Each presenter can briefly share their groups' business idea and then focus on their particular 1/8th part of the b-plan outline.
  • Obviously the parts of the b-plan that will require heavier (exclusive usage) of the databases we have shown are in bold (below):
     
    • Executive Summary
    • Business Description
    • Industry Analysis
    • Competitor Analysis
    • Customer Analysis
    • Marketing Plan
    • Operations & Management Plan - (may struggle w/source coverage here)
    • Financials - (can be tricky b/c of the unknowns with theoretical businesses - some groups might be able to flex their concept and adapt their research to fit this category. 
    Additionally, because of time constraints, focusing on one of the bold areas (above) will be adequate for a class period which also allows for brief, informal research process presentations from each group.