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    Module III

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    Smaranika Patil
    The document discusses different stages of venture planning including pre-launch, launch, and post-launch stages. It provides details about tasks and activities involved in each stage such as identifying the business idea, analyzing competition, obtaining financing, hiring staff, beginning production, and marketing the product. Key requirements at different stages include analytical skills, managerial skills, and project management skills.

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    Module III

    Uploaded by

    Smaranika Patil
    10 views10 pages
    The document discusses different stages of venture planning including pre-launch, launch, and post-launch stages. It provides details about tasks and activities involved in each stage such as identifying the business idea, analyzing competition, obtaining financing, hiring staff, beginning production, and marketing the product. Key requirements at different stages include analytical skills, managerial skills, and project management skills.

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    Entrepreneurship and ebusiness MU Semf ive

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    Module-III

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    The document discusses different stages of venture planning including pre-launch, launch, and post-launch stages. It provides details about tasks and activities involved in each stage such as identifying the business idea, analyzing competition, obtaining financing, hiring staff, beginning production, and marketing the product. Key requirements at different stages include analytical skills, managerial skills, and project management skills.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    10 views10 pages

    Module III

    Uploaded by

    Smaranika Patil
    The document discusses different stages of venture planning including pre-launch, launch, and post-launch stages. It provides details about tasks and activities involved in each stage such as identifying the business idea, analyzing competition, obtaining financing, hiring staff, beginning production, and marketing the product. Key requirements at different stages include analytical skills, managerial skills, and project management skills.

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    Moule-III

    Venture Plannin
    Pre-launch Stage

    Launch Stage
    Post launch Stag

    1. Pre launch Stage


    Identify, Analyze and Decide on the business idea.
    Analysis of strengths, weaknesses, opportunities and threats.
    Analyze competition and select the positioning strategy.
    Estimate and forecast the market size, growth and marketing feasibility which involves measurement of demand —
    supply gap.
    Whether to be an ancillary unit.
    Understand the technology, process and selection of the idea.
    Decide on the size of the enterprise in terms of production capacity, employees.
    Decide on the location of the venture.
    Identify the incentives given by the Government to promote the small and medium industries.
    Understand the relevant laws which are applicable for the business.
    Analyse the business idea as opportunity in terms of Profit, costs, expenditure, income, sales, market share.
    Estimation of manpower requirements.
    Pre-Launch Stage of a new venture involves collection of information through primary and secondary sources of
    data. It is a critical stage. The skills that are required are entrepreneurial skills of business opportunity identification
    and analytical skills.
    The functional areas of marketing and finance dominate this stage. Forecasting skills are also required in this stage.
    2. Launch Stage
    Selection of the Name of the enterprise.
    Hiring or construction of building
    Deciding on the ownership pattern — sole proprietor, partnership, private or public
    limited company and limited liability partnership.
    Registration of the firm. If it is a partnership firm, then agreements has to be signed. The registration processes of
    SMEs have been streamlined.
    Preparation of business plan and project report.
    Deciding on the product mix and markets to serve.
    Application for loan to banks. If private or public, issue of shares.
    Raising of finance.
    Ordering and installation of machinery.
    Recruitment of people.
    Deciding on the channel of distribution.
    Sources of raw materials to be finalized and purchases made.
    Production started.
    Products to be made available in the market.

    In Launch stage of a new venture, operational actions and decisions are taken. It requires managerial skills of

    coordination with the various agencies. Project management skills are required.
    There is lead time from planning to implementation stage. Close monitoring has to be made to see that the launch is
    as per the plan. Delay will increase the cost and have impact on the finances of the firm.
    etter financing options
    Already established brand
    Existing customers

    Well-established supply chain


    Access to trained staff and proven internal processes
    Business operations
    Staff and transition assistance
    More financial reward in growth
    ter likelihood of succe
    A marketing plan is an operational document that outlines an advertising strategy that an organization will
    implement to generate leads and reach its target market.
    A marketing plan details the outreach and PR campaigns to be undertaken over a period, including how the company
    will measure the effect of these initiatives.
    Understanding the Marketing Plan
    Written statement of marketing objectives, strategies, and activities
    Provides answers to three basic questions
    Where have we been?
    Where do we want to go (in the short term)?
    How do we get there?
    Difference Between a Business Plan and a Marketing Plan
    Business Plan
    Road map for the entire organization over time
    Focuses on decisions pertaining to all the functional departments and future growth strategies
    Marketing plan
    Focuses on marketing activities of a venture

    Integral part of a business plan


    Characteristics of a Marketing Plan
    Provide a strategy
    Be based on facts/valid assumptions
    Describe an appropriate organization for implementation
    Provide for short-term and long-term continuity
    Be simple and short
    Be flexible
    Specify criteria for control
    Outline for a Marketing Plan
    Marketing Research
    The Marketing
    Research is the systematic collection, analysis, and interpretation of data pertaining to the marketing conditions.
    Define the Problem-The foremost decision that every firm has to undertake is to find out the problem for which the
    research is to be conducted.
    Develop the Research Plan– This step involves gathering the information relevant to the research objective. It
    includes:
    Data Sources: The researcher can collect the data pertaining to the research problem from either the primary source
    or the secondary source or both the sources of information.
    Research Approaches: The Secondary data are readily available in books, journals, magazines, reports, online, etc.
    Sampling plan: Once the research approach is decided, the researcher has to design a sampling plan.
    Contact Methods: The researcher has to choose the medium through which the respondents can be contacted.
    Collect the Information:
    This is one of the most expensive methods of marketing research. At this stage, the researcher has to adopt the
    methods to collect the information, he may find it difficult to gather the correct information because of the
    respondent’s biasedness, unwillingness to give answers or not at home. 4. Analyze the Information:
    Once the information is collected the next step is to organize it in such a way that some analysis can be obtained.
    The researchers apply several statistical techniques to perform the analysis, such as they compute averages and
    measures of dispersion.
    Present the Findings:
    Finally, all the findings and the research are shown to the top management level viz. Managing director, CEO, or
    board of directors to make the marketing decisions in line with the research.
    Make the Decision:
    This is the last step of the marketing research, once the findings are presented to the top level management it is up
    to them either to rely on the findings and take decisions or discard the findings as unsuitable.

    A business plan is a document that defines in detail a company's objectives and how it plans to achieve its goals.
    A business plan lays out a written road map for the firm from marketing, financial, and operational standpoints.
    Both startups and established companies use business plans.

    A business plan is a document describing a company's core business activities and how it plans to achieve its goals.
    Startup companies use business plans to get off the ground and attract outside investors.
    A business plan can also be used as an internal guide to keep an executive team focused on and working toward
    short- and longterm objectives.
    Businesses may create a lengthier traditional business plan or a shorter lean startup business plan.
    Good business plans should include: ○ Executive summary
    Sections on products and services,
    ○ Marketing strategy and analysis,
    ○ Financial planning, ○ Budget.
    What is Driver-Based Planning?
    Driver-based planning, or driver-based modeling, is an approach to financial planning and analysis (FP&A) focused
    on:
    Identifying an organization’s key business and value drivers and
    ○ then creating business plans and budgets based on these key drivers.
    Driver-based planning is an approach to management that ○ identifies an organization's key business drivers
    ○ and creates a series of business plans that mathematically model
    ○ how those things most necessary for the organization's success would be affected by different variables.
    Identifying those key business drivers can be tricky if done in a subjective manner.
    however, and individuals within the same organization may have very different perceptions about
    ○ what the key drivers for success are.
    This is why forecasting business drivers objectively through a mathematical model can be helpful.
    The models may be created with spreadsheets or with more advanced data modeling software applications.
    The goal of driver-based planning is to focus business plans on the most critical factors that drive success.
    It uses financial models to run different scenarios based on these drivers, allowing finance and the business to
    understand the impact on projected business results.
    It further connects individual business processes, tactics, and strategies to different sets of financial results and
    outcomes.
    For example, driver-based planning can be useful in the longrange strategic planning process, where Finance needs
    to project long-term trends for revenues and costs.
    Key business drivers will also vary based on the industry and company.
    Typical key business driver examples include:
    Market size and growth
    Market share
    Number of customers/subscribers
    Sales volumes in units
    Customer acquisition costs

    Customer lifetime value


    Average sales price
    Churn rate (attrition rate)
    Sales pipeline throughput
    Benefits of Driver-Based Planning
    Sharpened Focused and Precision in Financial Reporting
    Improves the accuracy of forecasts because it allows the organization to focus on the data that has the greatest
    impact on revenue and expenses, such as cost of goods sold.
    Increased Finance and Business Alignment
    Driver-based planning units the business and Finance on a common set of metrics and framework for evaluating the
    future.
    Benefits of Driver-Based Planning Continue
    Greater Business Agility
    Driver-based system requires gives you greater visibility and transparency about each department’s drivers
    throughout the planning process.
    Improved Efficiency and Effectiveness
    Driver-based planning software saves a lot of time and effort in financial budgeting and forecasting. If you focus on
    key business drivers rather than line items, you’ll save time during your initial budgeting and during financial
    forecasting throughout the year.
    Elements of Business Planning
    Executive Summary
    The executive summary of the business plan will outline the summary of the entire business. This will include
    describing the business, the product, market, customers, financial highlights and the requirements. The executive
    summary should be half to one page in length. This should provide a quick reckoner who see the business plan and
    should make them understand the strengths within a few minutes.

    Company Description
    This section describes your offerings in the market. This section highlights the potential needs of the market your
    solution can fulfil.
    buyer persona that the company plans to target and also highlights why the solution will be successful.
    Analysis of market
    The analysis of market will give the investor a good idea on how much you are familiar with the market. This element
    should give a good idea about the market size, the competitors, the pricing and the promotional strategies.
    Solution and Value proposition This section highlights the:
    competitive solutions that are attempting to solve the same problem with the identified buyer persona.
    competitors’ strengths and weaknesses. solve the problems at scale. benefit the buyer persona.
    Team
    Established products can be evaluated by a touch and feel. Established services can be evaluated by references and
    gut feel. A startup can be evaluated only by the founding team. This section should highlight the people behind the
    organization. This includes the founding members, advisors and should also include the founding team.
    Operations
    This section highlights how the business will continue to function on an on-going basis. This section should highlight
    the various responsibilities of the management team, the tasks assigned to each one of those and the capital
    requirements and the on-going expenses related to the operations of the business,
    GTM Strategy
    Market strategy that include Marketing and Sales strategy.
    plan to take your solution to your customers. market reach and market penetration strategies.
    Financial projections
    This section will highlight the cost structure, the revenue streams, the sales as of now and the financial projections.
    This section should also highlight the sources of funding you have sought as of now. You can back your projections
    with the recent financial statements. This will give a good idea to your investors on how realistic and optimistic your
    numbers are
    Business plan failures
    Most important job of any business organization is to prepare a good business plan and its effective implementation.
    Organization employs its best people and best resources to prepare a good business plan because strategic plan
    plays important role in achieving organizational success.
    “Failing to plan is planning to fail”.
    This quotation reveals that if you fail to plan, you plan to fail.
    The most important task of any business enterprise is to make a good business plan and its effective
    implementation.
    Business plan may fail due to the following reasons.
    Corporate planning is not consolidated into the total management system.
    Planning is not systematic, there is a lack of understanding of the different aspects of planning.
    Lack of upper management support.
    Responsibility for planning is vested solely in planning departments.

    Too much reliance on experience.


    Too much is attempted at one time.
    Management plans its work but fails to work its plan.
    Extrapolation and financial planning are taken as planning.
    Adequate information is not obtained in planning.
    Too much importance is given to one aspect of planning while others are ignored.

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