The Venture Plan An Introduction Six Reasons for

The Venture Plan An Introduction

Six Reasons for a Business Plan 1. 2. 3. 4. 5. 6. Helps identify your market, understand your customers and get to know your competition Shows that the venture can work, forces you to take a realistic view of your idea Introduces you to others as a detailed planner Help you determine how much financing you will need Identifies targets that will help you evaluate and improve your business performance Makes day-to-day management easier, as it outlines daily procedures

The Mission Statement �A venture plan should open with a mission statement that captures the attention and interest of people �A good mission statement �Clearly identifies the type of venture �The products or services it will deliver �The overall philosophy or purpose of the company �Explain how the venture will meet the needs and wants of customers

The Mission Statement �A mission statement is a written, easy-to-remember sentence; a short list of bullet points; or paragraph illustrating a business' goals and purpose. It has one common function: to guide you and your employees in making critical decisions that effect the direction of your company. �A mission statement identifies your company to its customers, vendors, the media and others that will be using or requiring its services or products.

The Logo �A logo is an accepted generic term for all symbolic ways to create a brand �Include trademarks, trade names, brand marks, logo types, and corporate symbols �Consist of 3 different forms: � � � Monogrammatic logo Visual logo Abstract logo

Monogrammatic Logo �These logo’s use stylized lettering to create a logo �Usually, it is the letters in the companies name but doesn’t need to be

Visual Logo �These logos try to reflect a quality of the product or company thr`ough a picture �These links can be direct or indirect

Abstract Logo �These logos use random lines, designs, and colours to create an image that becomes associated with their brand

Combination Logo �These logos combine different elements to create their logos �Usually a combination of monogramatic (name) and either visual or abstract

Slogans �A slogan is a short, catchy phrase that is always attached to a company’s name and logo �It helps to create top-of-mind awareness �Think of the following companies slogans: Harveys, Mc. Donalds, Dairy Queen, � UPS, Ford, Chevy � Nike, De. Beers, Walmart � Molson, Milk, eggs � �You must distinguish between a slogan and the mission statement.