ENT 200 Plan for a Startup Business, Spring 2019 Page 1 ENT 200 Plan for a Startup Business Assessment 2, PART 2: Final Paper Developing an Entrepreneurial Venture (group assignment) Date: Due at 11:59 PM on May 1, 2019 Description of Assignment: The goal of this assignment is to have you work together in small teams (the same teams that you were in for the in-class presentations already) to develop a detailed plan for a startup. You will have already pitched your idea in class in such a way that you can attract investors, and this plan should build on any feedback you got from your presentation. Each team will submit their written plan, based on the guidelines below, via MyCourses. The plan will describe and justify a new start-up. The technology for the startup need not be real; what is important is the strength of the plan and how well you satisfy the assignment requirements. Your goal is to convince the reader that you are creating a startup that can be viable and is worthwhile investing in, and that you and your team have a deep understanding of your potential customers and how your product or service will meet their needs. Your plan should be between 10 and 15 pages (but not longer than 15) and may include as many diagrams figures, and photos as you feel are helpful. Use line spacing for body text of 1.15 for readability. Appendixes do not apply to the page count. **** Your written business plan can only be submitted as a doc, or docx via MyCourses. A link to an online storage location is NOT acceptable. Grading Criteria / Rubric (What constitutes a good assignment?): The depth of analysis and the justification, a clear understanding of the internal and external factors impacting the business. There are 5 REQUIRED Appendixes that must also be completed. Background Historically, a business plan has been used before a business launches to ensure that the founders carefully think through every step of starting their company and what will happen over the next few years, and as a tool for getting investment funding. Along with a description of the problem your business will address, the typical plan would include your firm’s solution, the market / revenue opportunity, customer profiles, and income, profit, and cost projections for the next five years. While this might work for an established company that already understands its customers, competition, channels, costs, supply chain, and product / service demand, there are few answers that a startup is likely to have until it begins testing its ideas and learning from potential customers. Unlike established businesses that are executing on a business model, start-ups are looking for one, and rely much more on tools like the business model canvas, which essentially diagrams how a company creates value for itself and its customers. Since so much is unknown about your startup today, this assignment is geared towards articulating your ass.

1. ENT 200 Plan for a Startup Business, Spring 2019 Page 1
ENT 200 Plan for a Startup Business
Assessment 2, PART 2: Final Paper Developing an
Entrepreneurial Venture (group assignment)
Date: Due at 11:59 PM on May 1, 2019
Description of Assignment: The goal of this assignment is to
have you work together in small teams (the same
teams that you were in for the in-class presentations already) to
develop a detailed plan for a startup. You will
have already pitched your idea in class in such a way that you
can attract investors, and this plan should build on
any feedback you got from your presentation.
Each team will submit their written plan, based on the
guidelines below, via MyCourses. The plan will describe
and justify a new start-up. The technology for the startup need
not be real; what is important is the strength of
the plan and how well you satisfy the assignment requirements.
Your goal is to convince the reader that you are
creating a startup that can be viable and is worthwhile investing
in, and that you and your team have a deep
understanding of your potential customers and how your product
or service will meet their needs.
Your plan should be between 10 and 15 pages (but not longer
than 15) and may include as many diagrams figures,
and photos as you feel are helpful. Use line spacing for body

2. text of 1.15 for readability. Appendixes do not
apply to the page count.
**** Your written business plan can only be submitted as a doc,
or docx via MyCourses. A link to an
online storage location is NOT acceptable.
Grading Criteria / Rubric (What constitutes a good
assignment?): The depth of analysis and the
justification, a clear understanding of the internal and external
factors impacting the business.
There are 5 REQUIRED Appendixes that must also be
completed.
Background
Historically, a business plan has been used before a business
launches to ensure that the founders carefully think
through every step of starting their company and what will
happen over the next few years, and as a tool for
getting investment funding. Along with a description of the
problem your business will address, the typical plan
would include your firm’s solution, the market / revenue
opportunity, customer profiles, and income, profit, and
cost projections for the next five years.
While this might work for an established company that already
understands its customers, competition, channels,
costs, supply chain, and product / service demand, there are few
answers that a startup is likely to have until it
begins testing its ideas and learning from potential customers.
Unlike established businesses that are executing on
a business model, start-ups are looking for one, and rely much
more on tools like the business model canvas,

3. which essentially diagrams how a company creates value for
itself and its customers.
Since so much is unknown about your startup today, this
assignment is geared towards articulating your
assumptions, and testing your approach with potential
customers, combined with your best thinking / knowledge
about the market and about the key components of your business
model.
For this class, assume that your plan will be read by potential
investors. Be clear and concise in your writing. A
person outside of your industry should be able to understand it.
Avoid making unsubstantiated claims or sweeping
statements. Investors, lenders and others reading your plan will
want to see realistic projections and expect your
assumptions to be supported with facts.
Finally, proofread your completed plan (or have someone
proofread it for you) to make sure it’s free of spelling
and grammatical errors and that all figures are accurate.
ENT 200 Plan for a Startup Business, Spring 2019 Page 2
Your start up plan should include the following sections. Feel
free to modify these as needed to meet
your businesses’ needs.
Note that some sections such as the Executive Summary, the
Problem Being Solved, about your Products /
Services, Customer Segments, and Competition may be one or
two pages each. Some of the others may be only 1
or 2 paragraphs.

4. I. Executive Summary
II. The Problem Your Product or Service Solves
III. Products & Services
IV. Value Proposition
V. Customer Segments and Market Size
VI. Competition / Barriers
VII. Revenue Model / Streams
VIII. Channels
IX. Customer Relationships
X. Key Resources
XI. Key Activities
XII. Partnerships
XIII. Cost Structure / Finance
XIV. Management
REQUIRED Appendices
THESE MUST BE COMPLETED AS PART OF THE
ASSIGNMENT
Don’t slow your readers down by cluttering your business plan
with supporting documents. Instead, put these

5. documents in the Appendices, and refer to them in the body of
the plan so readers can find them if needed.
(A) Appendix A. In order to understand your potential
customers and how this problem impacts them, you are
required to discuss this issue with 5 people or businesses to test
your understanding of their needs.
Your discussion must be documented and included in the
Appendix. (Include your interview questions and the
answers, your key learnings, and name, date, and photo of the
person you interviewed).
(B) Appendix B: For your in-class presentation, you developed
an MVP. Include it in Appendix B (hopefully it has
been improved since the one you showed in class).
ENT 200 Plan for a Startup Business, Spring 2019 Page 3
You can include videos, pictures and illustrations --- very
simple drawings or screenshots are fine to make sure
your reader fully understands your solution. If you are using a
physical prototype or software that cannot be
included in your paper, contact me via email at least 24 hours
before the due date.
(C) Appendix C. Develop 2 personas (or archetypes) of your
customers.
One tool I would suggest is xtensio https://xtensio.com/how-to-
create-a-persona/
You have to login; it is free – look for User Persona. Up to you

6. whether to use this or not.
(D) Appendix D. Completed Business Model Canvas Attach it
here, filled out with enough detail so that an
outsider can understand it. You can use any tool you would
like, or just download from
WWW.BUSINESSMODELGENERATION.COM/CANVAS.
(E) Appendix E. Impact. All businesses have an impact.
Identify the Social and Environment Costs and/or Benefits
caused by your business here. This can be a brief list.
More detailed explanations of each section are below.
I. Executive Summary
The Executive Summary is the most important part of your
business plan. Often, it’s the only part that a
prospective investor or lender reads before deciding whether or
not to read the rest of your plan. It should
convey your enthusiasm for your business idea and get readers
excited about it too.
Write your Executive Summary LAST, after you have completed
the rest of the business plan. That way, you’ll
have thought through all the elements of your startup and be
prepared to summarize them. Limit your Executive
Summary to one or two pages in total.
II. The Problem Your Product or Service Solves
Every business needs to solve a problem (or meet a need) that
its customers face. If you aren’t solving some
problem, you are going to have a long and difficult climb! Use
this section to talk about the problem you are
solving and who has the problem.

7. Consider using a short story when you are describing the
problem. A tale about a person who benefits from using
your product will highlight its relevance. The more you can
make the problem as real as possible, the more your
readers will understand your business and your goals.
III. Products & Services
This section expands on the value proposition by describing the
specific products or services your company will
provide. You will likely want to focus on the following 3
questions, as appropriate.
1. What will you sell, and how will it be provided to customers?
2. How do customers use your product or service and how do
they address the problems described above?
3. If there are other solutions, explain why yours is better than
existing options or the characteristics that give it
a competitive edge. Why will customers choose you instead of
one of the other players on the market.
ENT 200 Plan for a Startup Business, Spring 2019 Page 4
IV. Value Proposition
Your Value Proposition describes the bundle of products and
services that create value for a specific customer
segment. It is the reason why customers turn to one company
over another. It is your company’s promise (the
value you deliver) to a customer or market segment.

8. It is an easy-to-understand reason why a customer should
purchase a product or service from that specific
business. A value proposition should be a clear statement that
explains how a product solves a pain point (i.e.
fixes the customer’s problem or improves her life),
communicates the specifics of its benefits and states the
reason why it's better than similar products on the market.
Rarely is your value proposition the product itself or its
features. Instead, it’s the way the brand or product
improves the lives of your customers and the way it makes them
feel
V. Customer Segments and Market Size
These are the groups of people and organizations you aim to
reach and serve. Describe your target customer(s)
and segment them using some of the characteristics below. You
may have more than one target customer group.
For instance, if you sell a product to consumers through
distributors, such as retailers, you have at least two kinds
of target customers: the distributors (businesses) and the end
users (consumers).
• For consumers, you might consider: Age, Gender, Location,
Income, Occupation, Hobbies, Education levels,
etc.
• For businesses, you might consider: Industry, Location, Size,
Stage in business (startup, growing, mature),
Annual Sales, etc.
VI. Competition / Barriers

9. One of the biggest mistakes you can make in a business plan is
to claim you have “no competition.” Every business
has competition in one form or another. Even if you are opening
up an entirely new market, your potential
customers are usually using alternative solutions to solve their
problems today.
Provide a brief overview of the competition.
What barriers to entry does your startup face? In a more
detailed plan you would also identify how you plan to
overcome them. That is not necessary. Barriers to entry might
include some of the following (and/or others not
mentioned below
• High costs (for startup, production, marketing, research, etc.)
• Existing Players with a dominant market share or brand
recognition
• Finding qualified employees
• Need for specialized technology or patents
• Government Regulations
• Customer switching costs
• Network effects or existing firms
VII. Revenue Model / Streams
Now that you’ve described your product or service, you need to
talk about how it makes money. This section
doesn't need to include detailed data or financial forecasts, but
it should describe who will pay for your service
ENT 200 Plan for a Startup Business, Spring 2019 Page 5

10. and what types of revenue models you will use. For some
businesses (content sites, for example), advertisers pay
the bills instead of users, so it’s important to flesh out the
details here.
You may have multiple revenue streams, or be earning money
from more than one customer segment. Be sure
to include these.
How do you expect to price your products? For example, you
might describe whether you will be a premium,
high-price offering or a budget offering that undercuts existing
solutions on the market.
VIII. Channels
How will you communicate with and reach your customer
segments to deliver your value proposition? What
methods of distribution will you use to sell your products and/or
services?
IX. Customer Relationships
The Customer Relationships Section describes the types of
relationships a company establishes with specific
Customer Segments A company should clarify the type of
relationship it wants to establish with each Customer
Segment. Relationships can range from personal to automated.
Customer relationships may also be driven by a
number of motivations, such as:
• Customer acquisition
• Customer retention
• Boosting sales (upselling).
X. Key Resources

11. Describe the most important assets that allow you to create and
offer your Value Proposition and make your
business model work. Every business model requires Key
Resources that allow an enterprise to create and offer a
Value Proposition, reach markets, maintain relationships with
Customer Segments, and earn revenues.
Your Key Resources will depend on your business model. A
microchip manufacturer requires capital-intensive
production facilities, whereas a consulting firm focuses more on
human resources. Key resources can be physical,
financial, intellectual, or human. They can be owned or leased
by the company or acquired from key partners.
XI. Key Activities
Every business model requires a number of Key Activities.
These are the most important actions a company must
take to operate successfully. Like Key Resources, they are
required to create and offer a Value Proposition, reach
markets, maintain Customer Relationships, and earn revenues.
And like Key Resources, Key Activities differ
depending on business model type.
For software maker Microsoft, Key Activities include software
development. For PC manufacturer Dell, Key
Activities include supply chain management. For consultancy
McKinsey, Key Activities include problem solving.
XII. Partnerships
Describe any critical suppliers and partners that will be needed
to make your business model work. Companies
build partnerships for many reasons, such as optimizing their
business models, reducing risk, or acquiring

12. resources. You man, or may not, need 1 or more of these types
of partnerships:
ENT 200 Plan for a Startup Business, Spring 2019 Page 6
1. Strategic alliances between non-competitors
2. Coopetition: strategic partnerships between competitors
3. Joint ventures to develop new businesses
4. Buyer-supplier relationships to assure reliable supplies.
XIII. Cost Structure / Finance
Business plans often consist of a very detailed financial
statement section. Since this is typically done by sitting in a
room coming up with numbers, it is not something startups have
a lot of insight into when they are first starting
up. This section is highly simplified and focused only on the
first year of operation.
Provide the numbers / tables described below only. No other
financial statements are needed.
1. Expenses, Year 1
What are the expenses involved in opening and operating your
business during the first year?
Be sure to include extra capital for unexpected expenses.

13. Opening a new business almost always ends up costing
more than expected, and you need to be prepared; a good rule of
thumb is to set aside 20% to 25% of your total
startup costs for contingencies.
2. Income, Year 1
You might want to base your income statement on one of the
formats here, but there is no need to consider
taxes in your calculations. You may want to review:
https://www.accountingtools.com/articles/2017/5/17/the-
income-statement
Show three different scenarios: worst, expected, and best.
What is your breakeven point? The break-even point can be
determined by finding the set of numbers that lead
to zero profit, which means you broke even. You should
highlight the break-even point here; note that it might be
several years away.
3. Investment and use of funds
How much capital do you need to raise for year 1? Explain why
you need the amount of money you are trying to
raise from investors and how you plan on using the money.
Investors will want to know how their money will
help you achieve the goals you are setting out for your business.
Investors expect the founders to also invest in
their business.
You do not need to discuss valuation or equity or anything else
that you might give to your investors.

14. XIV. Management
Who are the people behind your business, their roles and
responsibilities, and their prior experience?
A paragraph for each team member, highlighting If they have
experience or specializations that will increase your
chances of success is enough detail.
ENT 200 Plan for a Startup Business, Spring 2019 Page 7
REQUIRED Appendices
Don’t slow your readers down by cluttering your business plan
with supporting documents. Instead, put these
documents in the Appendices, and refer to them in the body of
the plan so readers can find them if needed.
(A) Appendix A. In order to understand your potential
customers and how this problem impacts them, you are
required to discuss this issue with 5 people or businesses to test
your understanding of their needs.
Your discussion must be documented and included in the
Appendix. (Include your interview questions and the
answers, your key learnings, and name, date, and photo of the
person you interviewed).
(B) Appendix B: For your in-class presentation, you developed
an MVP. Include it in Appendix B (hopefully it has
been improved since the one you showed in class).

15. You can include videos, pictures and illustrations --- very
simple drawings or screenshots are fine to make sure
your reader fully understands your solution. If you are using a
physical prototype or software that cannot be
included in your paper, contact me via email at least 24 hours
before the due date.
(C) Appendix C. Develop 2 personas (or archetypes) of your
customers.
One tool I would suggest is xtensio https://xtensio.com/how-to-
create-a-persona/
You have to login; it is free – look for User Persona. Up to you
whether to use this or not.
(D) Appendix D. Completed Business Model Canvas Attach it
here, filled out with enough detail so that an
outsider can understand it. You can use any tool you would
like, or just download from
WWW.BUSINESSMODELGENERATION.COM/CANVAS.
(E) Appendix E. Impact. All businesses have an impact.
Identify the Social and Environment Costs and/or Benefits
caused by your business here. This can be a brief list.