In this multi-week, project-based assignment, you will create a comprehensive business plan using LivePlan software. You will apply entrepreneurship concepts from our textbook, lectures, and case studies to design, analyze, and justify a viable new business. The project culminates in a 1215 minute recorded business plan pitch presentation.
This assignment simulates a real-world entrepreneurial processfrom idea selection and market research to financial forecasting and investor-style pitching.
Business Concept Options (See Discussion Board First – Choose ONE)
You may select one of the following business types for your LivePlan project:
- Food Truck Business
- E-commerce Custom T-Shirt Company
- Bookkeeping & Tax Services Business
You are creating a fictional business, but all assumptions, data, and financials should be realistic, well-researched, and clearly explained.
Learning Objectives
By completing this assignment, you will be able to:
- Apply entrepreneurial theory to a real business concept
- Conduct market and industry analysis
- Develop a customer value proposition and competitive strategy
- Create realistic financial projections using LivePlan
- Communicate a business opportunity clearly and persuasively
- Demonstrate critical thinking through reflection and justification of decisions
Project Timeline
Start Date: April 13
Final Submission Due: April 30 (11:59 PM)
Suggested Milestones (Not Separately Graded)
- April 1315: Business idea selection & initial setup in LivePlan
- April 1620: Market research, customer analysis, and competition sections
- April 2124: Operations plan, marketing & sales strategy
- April 2527: Financial projections and budgeting
- April 2829: Final edits and pitch video recording
- April 30: Submit completed LivePlan plan and pitch video
Required Business Plan Components (LivePlan)
Your LivePlan business plan must include the following sections:
- Executive Summary
- Business concept and mission
- Product/service overview
- Target market
- Financial highlights
- Company Description
- Business structure and ownership
- Problem being solved
- Value proposition
- Market Analysis
- Industry overview
- Target customer profile
- Customer pain points
- Market size and trends
- Competitive Analysis
- Direct and indirect competitors
- Competitive advantages
- Barriers to entry
- Marketing & Sales Strategy
- Pricing strategy
- Promotion and advertising methods
- Sales channels
- Customer acquisition strategy
- Operations Plan
- Day-to-day operations
- Suppliers and technology
- Location or delivery method
- Legal or regulatory considerations
- Management & Organization
- Founder(s) roles and responsibilities
- Key skills and gaps
- Financial Plan
- Startup costs
- Sales forecast
- Expense budget
- Cash flow statement
- Profit & loss statement
- Break-even analysis
Throughout your business plan and pitch, you must explicitly reflect on entrepreneurship concepts from:
- The course textbook
- Assigned case studies
- Class discussions
Examples include (but are not limited to):
- Opportunity recognition
- Risk and uncertainty
- Competitive advantage
- Customer discovery
- Lean startup principles
- Bootstrapping vs. funding
- Ethical and legal considerations
Clearly explain how course concepts influenced your business decisions.
Submission Instructions (Canvas)
Submit the following items by April 30:
LivePlan Business Plan
-
- PDF export OR shared LivePlan access (as instructed by your instructor)
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