Full Business Plan Submission

The event would take place at International University of Sarajevo, where Business plans previously selected would be presented. Out of all, TOP 3 would be selected.
Before the final session, participant should submit complete business plans and all relevant materials.

Guidelines

The final version of business plan should contain:

1. Description of product/service that participants plan to sell
o Do participants sell product or service or both?
o How does product/service looks like (picture, illustration, description of what is made of)
o Describe the type of product/service (if it is about selling shoes then participants should explain what kind of shoes, colors, size, etc.)
o If participants plan to sell more products, but not all of them at the start of the business, they should describe why and when.

2. Customers – describe the target market for which product/service is designed
o Is product/service designed for individuals or businesses? (If it is for businesses then participants should provide information on industry, lifecycle and size of targeted businesses. If it is for individuals, then demographic characteristics of target should be included such as age, gender, income and other relevant elements for particular product/service)
o Location of the customers (urban, rural, particular region)
o Why do they buy the product/service (necessity, lifestyle, prestige) and why would they buy the proposed product/service?

3. Industry analysis – what type of industry the business is in and who are other players? Industry analysis should be done according to Porter´s five forces: competitors, bargaining power of buyers, bargaining power of suppliers, threat of new entrants and substitute goods.

4. Market research – Participants should do 2 types of analysis:
o Desk research in order to obtain information such as how big the market, what are the recent trends, relevant indicators and statistics. This is mostly about gathering the information regarding what other think about the market.
o Field research is to obtain the information from the potential customers. The purpose of this research is to see whether the potential customer is willing to buy the product/service. Some of the techniques that may be used are survey and test examples if product/service already exists. Another important thing here is to gain feedback about the price that potential customers are willing to pay for.

5. Value proposition- What is offered to the customers in terms of additional value that the product/service and what is so different/unique compared to the competition? What is the strategy for reaching the customers? Is business concentrated on cost or differentiation strategy? What is the business product mix (4Ps – product, price, place and promotion) and on what the business owners are going to focus?

6. Customer contact points (Marketing Plan) – This plan refers to describing the activities that will be taken in order to reach the customers (Participants may focus on few or create the Integrated Marketing Campaign that may be the mix of many marketing strategies such as: advertising, direct marketing, social media, marketing buzz, guerrilla marketing, etc.).

7. Operations process – How will customers get the product/service? In this section, participant should provide valid information regarding the delivery of their product/service to the customers. If they opt for production process they have to show the knowledge about where to purchase materials, how to use material to get the product, what technology and machinery do they need, what kind of human resources do they need and what are the distribution routes (directly or indirectly to customers). Examples are provided below.

8. Human Resources - requires from participants to list the type of personnel they will need in order to run the business.

9. Financial plan should include :
• Startup Capital Needed (fixed and current assets)
• Financial forecasts (for period of three years)
o Income statement (sales forecast, cost of goods sold, operating expenses, taxes and net income)
o Balance sheet (Assets, Liabilities and Equity)
o Cash flow statement (cash at the beginning, cash from operating, financing and investing activities, cash at the end)

 

Location

BiH

Hrasnička cesta 15, Sarajevo 71210

 

Contact

Give us a call at+387 33 957 423

Email us at

 

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