You need to come up with an idea for a new venture (a new business), preferably one that you could realistically get off the ground as a student on a tight budget. (Feel free to keep it simple; single, niche product or service businesses are fine. For example, selling jam at the farmers market or working as a mobile personal trainer. There are no bonus points for complexity!) It should ideally be related to a topic that you are interested in, hopefully even passionate about, and itâ€s helpful but not essential to already have some experience in that area.
This venture proposal is the basis for your elevator pitch.
Your Individual Venture Proposal will be a shorter version of a business plan (a â€œmini-business planâ€, please see business plan template on elearn), with a 2-year time frame (including a start-up period). The sections you should include are:
1. Business Overview â€“ What is your business concept?
2. Environmental Scan â€“ Summary of; Industry, Competitor, Consumer
3. Marketing Plan â€“ What is your â€œuniqueâ€ selling proposition? How will you grow your business?
4. Operations Plan â€“ What will your initial operations set-up be?
5. Financial Plan â€“ What are your start-up costs and projections for the first 2 years?
6. Appendix: Venture Opportunity Screening model, references (in APA style), Turnitin similarity report screencapture The total length of your proposal should be one page.
This means you will be presenting â€œhigh levelâ€ detail only. You need to be comprehensive and compelling, yet succinctâ€¦ make every word count. Suggested word counts are below in grading rubric. To accompany your one page submission, included also is your Venture Opportunity Screening model, references in APA style plus your Turnitin similarity report screen capture
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