EXERCISE WEEK 11
KEY STEPS FOR WRITING A BUSINESS PLAN AND PREPARING A BUDGET
This introductory exercise aims to introduce participants to the key steps in business planning and
budgeting and to work in groups to exchange ideas about the topics.
Your group will be required to present your budget in class.
You will be given around 5 minutes to present.
You are encouraged to use handouts and/or posters and/or role plays. You do not need to use
Each student must either prepare his/her own budget for the business (see step 3 below), and
have this ready to hand in at the start of class, or your group may hand in a ...view middle of the document...
Summarise in 200 words:
What’s the name of your business?
What does your business do?
What is your vision?
Examples of vision statements
'There will be a personal computer on every desk running Microsoft software.' (Microsoft's
original vision statement)
'Our vision is to be earth's most customer centric company; to build a place where people can
come to find and discover anything they might want to buy online.' (Amazon.com)
'To build a community of coffee lovers in Sydney, by serving the best coffee at the best possible
prices.' (local café)
'Our salon will change the way you think about a haircut, and leave you glowing both inside and
out.' (local hairdresser)
2. Products or services and market analysis
The product or service and market analysis identifies, describes and analyses the products and
services you offer, your target market, your market share and your competitors. Use this analysis
to make decisions about pricing products and services and the location of your business.
You must provide a quantitative description of the size of the opportunity for your business
You must answer the following questions:
Who are your customers?
Who are your competitors
What is your point of differentiation? (what makes you better than your competitors?)
What is the size of your revenue opportunity? / how much sales can you expect to
Eg. if you plan to launch a new mobile phone, your...