Identify Your Competitors – Due May 14th (Extended to May 19th)

by | May 8, 2023

Identify your competition by listing companies that are delivering services that are similar to your own. Are there other companies solving the same or similar problems? 

    • Current alternatives
      • Describe the competitive landscape for your products or services. How many competitors do you have?
      • Do you have direct competitors — that is, other vendors who provide the same sort of solution to the customer’s problem that you do?
      • If so, describe who they are, what they offer, and why customers might choose them.

    • Our advantages
      • Identify your key advantages over the other competitors and alternatives in your market.
      • Do you have the lowest price in a market where all of the solutions are basically the same? If not, why should customers choose your solution?
      • Is it better somehow — easier, faster, better tasting, longer lasting, more conveniently located, backed by better customer service?
      • Why is your company different? What makes your company stand out?
      • Have you tapped into a new or unique niche (a specialized  market segment providing a product or service)?

Compile Your Target Market – Due May 14th (Extended to May 19th)

by | May 8, 2023

Compile your Target Market and update this section in your LivePlan business plan. Answer the following questions and feel free to provide additional information you might have already compiled that is not listed below.

    • Describe your target market.
    • Who is your ideal customer?
    • Who are the people or companies who suffer from the problem that you are solving?
    • How do they break down into segments — that is, recognizable customer types with similar demographics, needs, and expectations?
    • How many potential customers does your research suggest there are in each segment?

Write Your Problem and Solution Statements – Due May 10th

by | May 8, 2023

Write your company’s Problem Statement and include up to five problems your company will solve.

Write your company’s Solution Statement and list up to five solutions that will solve the aforementioned problems.

After completing these sections, update the designated sections in your business plan in LivePlan.

Note: It is best to have this information documented in advance so that you have ample time to think through your statements prior to uploading them in LivePlan. Although, you’re welcome to enter the information directly into LivePlan and then make updates along the way.

Refer to example business plans in LivePlan as needed.

https://samples.liveplan.com/?

Financial Plan Assignments – Due May 14th (Extended to May 19th)

by | May 7, 2023

There are three key exercises that must be completed in order to effectively contribute to the compilation of your Financial Plan. Please see the attached assignment and complete it prior our next course on Monday, May 15th, 2023 course at 5:30 PM.

MS Excel or a comparable spreadsheet application is needed to complete these exercises. If you already have this information on hand (i.e. QuickBooks, etc.), then the assignment should be pretty straight forward. The goal is to make sure that you have this information on hand so that you can easily populate your Financial Plan within LivePlan.

Other key resources that may be helpful to assist you with building your Financial Plan and Statements within LivePlan can be found below.