BUS plan
2.0 Venture Description and Goals
Begin this section with a brief introduction to your venture, the product or service you will offer, and the parent organization (if applicable). You will also include information on your business and social goals, as well as your venture’s guiding principles.
2.1 Venture Description
This is your opportunity to tell your story and demonstrate your credibility. Consider answering the following questions:
1. What is your venture? How did you get started? How did you generate the idea for your venture?
2. What is the purpose of the venture?
3. What is your value proposition? What problem are you solving for the customer? Why
will they purchase from you? How does your venture improve the status quo?
4. Why are you the right organization to pursue this venture?
5. What is the legal structure of the venture? For example: independent entity or
department/division within the nonprofit/parent organization.
2.2 Description of Product or Service
What are the product(s)/service(s) that the venture will offer? Include information on current offerings as well as proposed future offerings.
1. What are the core elements?
2. What are the success factors?
3. Are you planning to scale the program to new geographic areas or audiences?
2.3 Overview of Parent Organization (If Applicable)
1. Who is the parent nonprofit/for-profit organization?
2. What is the mission of the organization?
3. How will the parent organization support the venture? What is the relationship between
the two entities? How is it governed?
2.4 Business and Social Goals
1. What are the short-term and long-term business goals for the venture?
2. What are the short-term and long-term social goals for the venture?
1. What is your theory of change?
2. What is your logic model?
2.5 Guiding Principles
Guiding principles are a set of statements that identify the values and beliefs of the organization. Guiding principles can be thought of as “requirements” or “non-negotiables” that must be met/adhered to throughout the life of the venture. Guiding principles can be differentiated by those related to business operations vs. social/community impact.
Social Business Plan Template
a
Identify 3-5 business guiding principles. For example:
What is the maximum amount of capital that the nonprofit/parent organization is willing to invest? What is the maximum amount of capital that the nonprofit/parent organization is willing to borrow? What is the maximum amount of financial losses the nonprofit/parent organization is willing to cover per year?
When does the parent organization need the venture to be self-sustaining?
B
Identify 3-5 social/community guiding principles. For example:
Will individuals from a disadvantaged population be targeted for employment? What skills will they acquire? Are there restrictions/limitations regarding suppliers? How will the environmental impact be limited/monitored/managed?
How will the profits of the venture be used?
3.0 Industry and Customer Analysis
This section begins with a discussion of the industry (or environment) that your venture will operate in, as well as the outlook, trends and best practices of the industry. The focus then narrows to a description of the customer need that your product or service addresses. Lastly, your target market is defined and described.
3.1 Industry Overview, Outlooks/Trends and Best Practices
1. Industry Overview
· What is your venture’s industry? How is it described? What does it include? Is
there a primary and a secondary?
· What is the size of the industry? For example: number of companies working in
industry, annual sales, annual profit or number of customers.
· How is the industry segmented? What industry segment will you focus on?
2. Industry Outlook and Trends
· What is predicted for the industry in the short and long term?
· What are the 3-5 most important trends (positive and negative) impacting the
industry? How will these impact your venture?
3. Industry Best Practices / Critical Success Factors
· What are the best practices in the industry that make the difference between success and failure? How will you ensure that your venture institutes these?
· What does it take to thrive in this industry? How will you operationalize this?
·
3.2 Description of Customer Need
1. What customer needs does your product or service address? Include data from primary customer research.
2. What evidence do you have that customers are willing and able to pay for a product or service that addresses these needs?
a.
3.3 Description of Customer(s)
Who is your target market? a. What does your ideal customer look like? b. What is most important to your target market? For example: price, quality,
brand, convenience and/or customer experience. What is the size of your target market?
How much do they spend on similar products or services? What are the 3-5 most important trends in your target market? How will these impact your venture? Why did you select this target market?
4.0 Competitive Analysis
This section begins with a brief introduction to the competitive environment, and then narrows to profile your direct competitors. After discussing your direct competition, the section concludes with a description of how your venture is different and why it will be valued by customers.
4.1 Competitive Environment
Begin with a brief description of the competitive environment. How would you describe the level and intensity of competition? Are there any major trends impacting the competitive environment? Are there any best practices that are essential to success?
4.2 Profile and Analysis of Direct Competitors
Create a matrix that profiles your direct competitors and include your venture in the matrix. Make sure to determine the possible areas for competition – based on what the customer cares about – and identify how each competitor responds. Include only factors that are relevant and obtainable, which may include:
· What is their target market?
· What is their product/service?
· What customer needs does their product/service satisfy?
· What are their key strengths/weaknesses?
· How is their product/service positioned?
· How is their product/service priced?
· How do they promote their product/service?
· What are their hours of operation?
· What is their annual revenue and/or profit?
4.3 Competitive Advantage
How is your product or service different from competitors? What sets you apart? What is your competitive advantage? Describe how this is unique, sustainable, difficult to replicate and valued by customers.
Rating: 1 = Points from business plan template are ineffectively or not addressed; 2 = Addresses points in template;
3= Addresses and uses appropriate research to critically analyze points in template; 4 = Addresses and uses a
range of research to critically analyze points in template and has used feedback from past sessions and mentor to
improve business; 5 = Addresses and uses a range of research to critically analyze points in template and has
used feedback from past sessions/mentor/peers to improve business; has developed an airtight section, which is
concise, well-written, and easy to understand