ENTREPRENEURSHIPBY DJEUMO E. CYRILLE

Help Hospitality services is at the quest of customers satisfaction and profit maximization

WEDNESDAY 12TH OCTOBER 2016WELCOME

NADEV ENTREPRENEURSHIP ACADEMY

BY DJEUMO E. CYRILLE

MODULE - 3

Our vision is to be the highest experience leading partner in hospitality and tourism services.

Business Plan Development

A journey of a thousand miles start with a step

Writing a business plan is the first and most important step in launching a business. This lesson outlines the value of a business plan and the key elements to include. A business plan is critical for any successful venture. It is necessary for planning, to attract the right investors and identifying the skills required in order to recruit the best team.

Lesson Description

At the end of this training participants should be able to;1. Learn the value in creating a business plan. 2. Identify the primary elements needed to make it successful.

Learning Objectives

1. What are some of the challenges you face in starting a business?

2. How can a business plan help you in developing your business idea?

3. Can we outlined the key elements of a business plan. 4.Identify them and discuss how they apply to your entrepreneurial ideas.

Discussion Questions

1. Thinking about the “sales demand side” of business, identify a product or service that you could develop into a business. If this product or service is new, identify the market potential for this product.

Developmental Actions

1. If this is an improvement of an existing product or service, identify the reasons why the current product or service is not meeting customer needs, the market potential for your improvement, and how you will convince customers to upgrade to your new or improved product.

Developmental Actions

2. Develop a business plan for your product — take the answer you provided for question #1 and add the additional elements: a list of the problems you expect to encounter and how you plan to solve them, the risks associated with your venture and how you intend to reduce those risks, and the costs you anticipate for the first three years.

BUSINESS PLAN

BY DJEUMO E. CYRILLE

MODULE - 4

Our mission is to empower people to improve on customer service and know that through training and sensitization.

75% of small business in Cameroon do not respect their business plan… because they where poorly written.

Introduction

•Writing a business plan is not complicated, but you have to understand the fundamentals. If you have a great idea for an innovative venture and want to start a business based on that idea, you will need to attract team members and secure capital.

•The best way to do this is with a solid business plan.

•To convince others to join you in this exciting adventure, you will have to pitch investors and funders. Before they put up any money, they will ask you many questions about your idea, and you will need the answers! The business plan will help you formulate the responses that will satisfy their questions.

•But even before you go out and pitch your idea, the business plan will help you work out the potential issues and come up with solutions.

•This is important, whether you’re working alone or leading a team.

•So what are the primary elements of a business plan? In clear and concise language, your business plan should explain your idea as well as its market potential. It should list the problems that you expect to encounter, and how you intend to solve them. It should detail the risks associated with your venture and how you intend to reduce those risks.

How to Start Writing a Business Plan•Your business plan should always begin with the sales demand side. For example, if your idea is to sell a new type of medicinal product for Digestion, you’ll need to make assumptions and determine how many tiens products you think you can sell in kumba market in the first year. And then in the second, third, and fourth year. By the fifth year, perhaps you will expand into new markets and begin selling different types of tiens and associated services.

Secondly•Before you can claim that, you will need to do some research and find out the size of the current market for tiens products. Are there any problems with the Other medicinal products currently being sold in the marketplace? If so, you need to list those problems, and explain why tiens product is better. Is it because your tiens product cure faster and deeply, is cheaper, or is low in side effects, for instance?

Thirdly•In your business plan, you will also need to estimate how much your tiens product will cost to purchase, and how much you can sell it for. Your tea can be cheaper than existing tea, or it can be more expensive if you are convinced that your tea is better than what’s on the market.

•The business plan will help determine how much capital you need to raise in order to get started and grow your business in the first few years.

Fourth•Once you’ve explained the sales demand side, the business plan needs to also list the use of funds. This list should cover how much is needed for research, for salaries, manufacturing, marketing, distribution, Rent, Bills and everything else you will need for the company to grow and become profitable.

Fifth

•What makes a successful business plan? Business plans are incredibly useful because they allow you, your team members and your investors to determine whether you’re on the right track.

•If your market and pricing assumptions are valid, the business plan will help you affirm your business opportunity.

Advantages

•The reason most successful entrepreneurs go through the process of business planning is because it allows them to step back and think through the important issues associated with an abstract or unproven idea. Having thought through these important issues, the entrepreneur is in a better position to persuade new team members, investors and other stakeholders of the value of that idea.

Evidence•The best business plans demonstrate that the founding entrepreneur has a great idea, has identified an innovation, and has a passion for that new product or service. Because the plan forces the entrepreneur to put the business under scrutiny, investors will be reassured that the entrepreneur has done his or her homework, has assessed the risks, and laid down a sequence of decisions geared towards establishing a growing market share.

Summary•Of course, entrepreneurs should know that things don’t always go according to the business plan, and that they should prepare for contingencies.

•By demonstrating potential demand and an ability to produce goods or deliver services at a profit, the budding entrepreneur will see the exercise of writing a business plan as a great way to show that there is a real opportunity, and that he or she has a game plan to exploit it.

Exercise #11. According to Business Plan Training, A

Business Plan is necessary for planning, to attract the right investors and identifying the skills required in order to recruit the best team.

A. I AgreedB. I DisagreedC. I have not UnderstoodD. The Trainer was not Clear.

Exercise #21. According to Business Plan Training, If you

have a great idea for an innovative venture and want to start a business based on that idea, you don’t need to attract team members and secure capital.

A. I AgreedB. I DisagreedC. I have not UnderstoodD. The Trainer was not Clear.

Exercise #31. In your business plan, you will need to

estimate how much your tiens product will cost to purchase, and how much you can sell it for. Your tea can be more cheaper if you are convinced that your tea is better than what’s on the market. According to Business Plan Training.

A. I DisagreedB. I AgreedC. The Trainer was not Clear.D. I have not Understood

Exercise #4•According to Business Plan Training. What makes a successful business plan If your market and pricing assumptions are valid.

A. I DisagreedB. The Trainer was not Clear.C. I AgreedD. I have not Understood

Exercise #5•According to Business Plan Training. The best business plans demonstrate that the founding entrepreneur has a great idea, has identified an __________, and has a ________for that new product or service.

A. Passion B. The Trainer was not Clear.C. InnovationD. Focus

Contacts

MALINGO JUNCTION , LADY L STREET, MARC

LYNN BUILDING MOLYKO, BUEA.hhs412103@gmail.com

www.facebook.com/helphosptalityservicesP.O BOX 1505,BUEA.

TEL +237 6342030, 233322046

THANK YOU