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Proposal or Business Model Assignment: Writing and Presenting a Project or Business Model Read Chapter 9 before beginning this assignment. Listen to my video lecture before beginning this assignment. Imagine and create a solution for an existing problem This assignment asks you to identify, define, or explain an existing problem and imagine (create) a solution for it. For this assignment, you have the option of doing a Project Proposal or a Business Model Proposal. The requirements for length, formatting, font, and research (number of sources) are the same for both options. (See specifics below.) Considering the following questions will help develop the foundation of a project proposal while you brainstorm, make notes, and conduct research. This is not any outline for the Project, but it will be useful to you to work through them while planning. Study these before you begin to draft the major elements of your proposal. They are essential when planning and executing your strategies to present the fully developed idea to potential investors and supports.
1. What do you propose to do, and where do you propose to do it? (Be as specific as possible.)
2. Why should others consider this project a priority?
3. Can you think of a brief exle or story that illustrates the need for this project?
4. Who are the stakeholders (those with an interest or investment in) for this project, and what perspectives are they likely to have on it?
5. What kinds of resources will you need to carry the project out, and where can you get them?
6. What barriers might arise that limit this project, and how do you plan to address them?
7. Describe a scenario that illustrates the positive outcomes that will result from this project. 8. How should you best organize the proposal?
Option 1: Project Proposal The questions your project proposal should address are the following: • What precisely is the problem/idea/issue? • Why did the problem/issue occur? –OR— • What’s the genesis of the idea? • What is the significance of the problem/issue/idea? • What risks/opportunities are in play? • What should be done [could have been done] to resolve the problem? • What are the consequences of following or not following the recommendations? • What is the specific action needed? • How much will the project cost? (Include specific budget with expenses and projected or necessary income.) • What are the resources needed/available for successful implementation?
Option 2: Business Model Format/Questions In many respects, the Project Proposal and Business Models fulfill the same purpose: they fulfill a specific need that provides a solution to a problem. However, a business model must also address specific questions and follow the organizational outline listed below. Note: The body of the plan must not exceed 3 single-spaced pages (minimum 2 single-spaced pages). This does not include financials or other appendices. Include 6-8 references.
I. Business Overview • Describe your idea and business model: Who does what with whom how; who pays for it? • Financial value proposition: Why is this great idea from a monetary standpoint-for the people investing in the service or product; consumers? • Value proposition: What is your niche? Who are you selling to and why are they buying your product of service? • Vision: What is the ultimate objective of your plan?
II. The Market • Customer Identification: who’s paying for goods or services; e.g. private consumer. • Market size, analysis and forecast: What is the need? • Industry analysis and forecast: Who else is delivering this service already? What is the outlook on this type of activity? SWOT analysis. • Your competitive advantage: What makes your business the best qualified/positioned to deliver the good or service you are proposing?
III. Financial Analysis • Funding sources: Where will the money actually come from for the activity? What funding already exists or is committed? • Budget with detailed projections through Year 1. • Discuss assumptions and capital requirements.
IV. Funding/next steps • How much funding/time does your plan require to get off the ground?
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