Demonstrate effective analysis in business planning

Background:

We’ve decided to really try and capture entrepreneurial spirit in this week’s discussion. Like pioneers of the old west who would take turns working together at barn raising, entrepreneurs work together to thrive. This week you’ll be graded on how well you contribute to the discussion, not on a specific kind of knowledge you have. In other words, this week it is all about how you are willing to help think things through with others. It doesn’t matter how smart you are or how confused you may be–it’s all about how you show here you can be a team player.

Prep Work:

Before you post this week, please look at Assignment 2 and review the readings. You’ll need this info to construct your post and to reply.

Prompt:

Your primary post is two things. First, give us a part of business plan you think you can use help with. For instance, your mission statement. Second, tell us why you have what you have and what you are still working on so we can respond. For example, if you put your draft mission statement, tell us why you wrote your mission statement the way you did. Why are those values important? How will they guide your business practices?

In your reply to others, help them get the info they need and/or suggest how they might write the piece. Do not be insulting or rude–obviously. Focus on being a kind mentor, just like you hope the instructor will be when he or she grades you.

Resources

Here is a good article on mission statements specifically. While they suggest they are optional, read closer and see they mean the one you have should be used. http://sbinformation.about.com/cs/businessplans/a/mission.htm

Lesson Objectives

· Understand and use basic SWOT analysis in business planning

· Understand where to go to create a business plan and why the components matter

· Demonstrate effective analysis in business planning

Your journey to successful business ownership and operation is not going to be completely smooth. Plan to overcome obstacles and, as this video shows, be strong in moving forward to surpass your setbacks.

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