Final Week of Initial Draft

This week, we will finalize our business plan and conduct a company-wide read-aloud of everything we’ve put together.  By the beginning of Wednesday’s class, all elements of the plan should be emailed to the person responsible for putting the plan together.  During Wednesday’s class, the plan will be put in order, including title page and table of contents, and everyone else will work on business operations (website construction, pricing, wholesale marketplace, newsletter-worthy articles, etc.).  On Thursday, we’ll read the plan aloud and talk about how to improve it.  On Friday, we will establish the writing team that will compose the final draft and create Blogger accounts. Below is a breakdown of the week:

Monday and Tuesday:

To start the week, we’ll finalize our initial draft for the business plan.  Your completed work will be sent to the person responsible for putting the plan in order by the close of business (end of class) Tuesday.  While you’re working, I’ll circulate the room to find out where I can lend assistance.

A breakdown of our plan can be seen below:

Table of Contents and Final Layout of Plan

Kaltenthaler

Cover Page Design and Layout:

IT Department

Executive Summary:

Tariq Silver, CEO

Andrew Oglesby, Admin

Company Description:

Admin Department

Management Functions:

Admin and HR Departments

Current Economic Conditions:

William Palmieri

Industry Analysis (Real and Virtual):

Sales and Finance Departments

Market Segmentation, Marketing Mix (5 P’s), and Company Analysis

Sales Department

Breakeven Analysis and All Financial Data:

Finance Department

SWOT Analysis and Business Risks:

HR Department

Please adhere to the requirements set forth by the rubric and use previous plans (which can be found in the class Google Drive) along with the Gotham Enterprises model to guide you as you go.  Please also make use of all links available on the VEI Website.

Wednesday

While the business plan is put together, all other employees will complete the following tasks:

·        Sales – put all products & catering packages on the wholesale marketplace (I may need to update your settings in the portal, so give me a heads up if you can’t access the wholesale marketplace)

·        Finance – consult with sales to ensure pricing and wholesale costs are accurate.  Also, split up responsibility among different members of sales and finance as to who is responsible for different items (gold, platinum, diamond, catering, etc.).  Lastly, purchase all our office equipment and restaurant equipment.

·        HR & Admin – use the course standards to search for online articles that could help our employees understand important business concepts

·        IT – Continue working on company website, app, and promotional videos

Thursday

On Thursday, we’re going to complete our initial read of the business plan.  We’ll need to begin class by accessing the scoring rubric so we can properly evaluate our work.  Once finished with each section, we’ll determine how closely we’ve written our plan to the requirements set forth by VE International.  Final draft will be completed by our designated writing team.

Friday

With the short period on Friday, we’ll simply establish the writing team that will compose the final draft and create Blogger accounts.

Details, Details, Details, and a Fast-Approaching Deadline

This week, we will continue to work on the business plan, focusing on refining the initial draft we created.  I read through everything you shared with me on my Google Drive and gave you some general feedback this afternoon.  Throughout the week, I will meet with each of you to help guide you in crafting your finished product.  On Monday, I’ll meet with each group to give you slightly more detail about what to work on (resources, previous plans, and some other helpful tips).  From there, I will sit with you individually to give you some specific direction and feedback, focusing on the details I feel will make your plan the strongest it can be.

My overall impression of your submission, as is the usual case when a new group begins a new plan, is that it is very broad/general/vague.  I want each of you to think like an investor or a bank when you read through your writing.  Ask yourself, “If I was an investor who had to read through a dozen plans, would this stand out?  Have I painted the right picture for the reader to make him open up his wallet and invest?”  Once we look into some finer details and make our writing more descriptive, it will jump off the page. 

Monday Through Friday:

To start the week, we’ll go over some housekeeping items regarding Tuesday’s after-school concessions.  We have some inventory to replenish and some great ideas about increasing sales, so we’ll have to iron out all the wrinkles in the first 15 minutes of class.  After this, we need to get the ball rolling on revising our plan.

Once we address after-school concessions, our singular focus is on finalizing the most comprehensive, descriptive plan we can put together.  My input when we sit down individually will provide you with the direction.  Your creativity will make the final draft the best it can be.  

Time to Define Ourselves!

This week, we will use the results of our research to register our business on the VE network, review the written rubric for the business plan as laid out on the VE website, distribute responsibilities for each department and individual department members, and begin writing our business plan.  The initial draft is to be completed by Friday, September 16, 2016. 

1.    Finalize Mission Statement and Company Vision

a.    Shane and his department will again present our options for a mission statement.  We will choose a mission statement and Shane’s team will work on improving the syntax of the mission statement so that we have a solid idea of our company goals

2.    Choose Company Vision

a.    This will be added to the business plan after our Mission Statement and will paint a clear picture of the future of Make-A-Meal

b.    Shane and Drake will work together to make sure this is carried out to meet our high standards of excellence

3.    Business Plan Sign-up/Trade Fair Sign-up/Business Registration

a.    Executives are to complete this by end of business Wednesday

4.    Analyze Business Plan Rubric and lay out a plan of action

a.    Vice Presidents will work out which department is responsible for different elements of the business plan

b.    Each department understands the 9/30 deadline, but will set goals for what to complete by 9/16, 9/23, and 9/30

                                               i.     Please make sure to work interdepartmentally so that we are on the same page for each element of the plan

c.     Within each department, delegate who is in charge of each piece of the puzzle

5.    Begin writing the plan

a.    PLEASE UTILIZE LAST YEAR’S PLAN TO SET A BASELINE FOR WHAT WE EXPECT.  WORK TO IMPROVE ON THAT PLAN

b.    PLEASE DO NOT LEAVE ANY ELEMENT OF THE RUBRIC UNADDRESSED.  THIS COULD COST US A TRIP TO THE STATE FINALS

c.     DON’T HESITATE TO ASK FOR ASSISTANCE FROM OTHER DEPARTMENTS ON DIFFERENT ELEMENTS OF THE PLAN

                                               i.     Some departments may not have direct connections to certain elements, but you can use their expertise for help if your department has a lot to cover

d.    MAKE USE OF THE POWERPOINTS AND LINKS FROM OUR GOOGLE DRIVE

                                               i.     I have laid out how to address just about every element of the plan.  Use this information

                                             ii.     Consult with Google and the sample business plan on www.veinternational.org (Gotham) if you need further assistance

Daily tasks are broken down below:

Monday

Objectives: Analyze Business Plan Rubric, , Divide Responsibility for completion of Business Plan, Summarize what our business is and how we fill a need in the economy

Clear Target: We can create a business plan

We will begin class by logging into the VE Portal.  Once this is complete, we will analyze the written scoring rubric so that we can delegate which department will complete each section.  We will be organized in delegating responsibility and not begin working on any section of the plan until we have divided the responsibilities up completely.

Once responsibilities are distributed, we'll need to identify the need in the market our business fills.  This is essential to differentiating yourselves from other food service organizations and will help our sales team close deals when we begin operating.  Highlighting how we are different, why we are superior, and why customers need our services will make all the difference when our plan is compared to our competitors' submissions.

Finally, we'll have to find a real-world business partner who is willing to place a large order with us.  According to the VE decision-makers, we can have a real-world business complete an order that accounts for up to 75% of our company payroll for the year.  With those funds, we will have some of our business expenses satisfied.  Finance, sales, and our executive team will need to solicit the potential customer, offer the products/services (can be a long-term purchase), create an invoice, and close the deal.

We'll close class with a summary report of our work for the day.

Tuesday through Friday:

Objectives: Set deadlines for each week of business plan work, work on business plan

Clear Target: We can create a business plan

The only formal work we need to accomplish for the rest of the week is determining weekly deadlines.  Last year, we did not do a great job of finishing things in a timely manner, and by setting deadlines, we will learn from our mistakes and finish each portion of our work on time.  We will also work on completing work outside of class if needed so that we remain on schedule.

Once deadlines are set, it’s on you.  Please make use of all your resources (Google Drive, PowerPoints, previous plans, VE Portal resources) so that we can make the most impressive business plan.  You all have it in you if you work together, and I will be available for assistance as needed.

I look forward to the three-week sprint ahead of us.  I am confident this year can be our year to go to the State Finals and perhaps even further.  See you tomorrow!

Organizational Structure

Below is a breakdown of our organizational structure:

CEO
Tariq Silver

CFO
Dakota Bourne

Sales
Brock Burnett - VP
Darran Brooks
Tationna Johnson
Anaya Melton

IT
Orion Martin - VP
Charles Kaltenthaler
Robert Blair

Finance
Michelle Park - VP
Jessica Elery
William Palmieri
Andrea Ayala

Admin
Shane Carney - VP
Andrew Oglesby
Taylor Keen

Human Resources
Wyatt Harris - VP
Skyler Dixon
Ka'Dondre Crawford

Time to Start Up the Start-Up

This week, we are going to work on two things at once: creating the business plan and registering our business with the VE Network.  We will begin to break up our work by department so that we can maximize efficiency in completing our weekly tasks.  Moving forward (at least until next semester), tasks will often be assigned by department, not by day.  This means you won’t see a daily list of objectives and clear target.  Rather, you will see a breakdown of objectives for each department with either a common or department-specific clear target.  Further, there will be much fewer PowerPoint presentations or lecture from me.  Beginning Monday, my role as facilitator will be to act as your guide on the side.

Our clear target for the week is simple:

We can apply business concepts to launch a virtual startup business.

The tasks for the week can be found below.  Don’t be intimidated by this list.  You can all get it done:

All

·      Log onto the portal - I'll demo for everyone on my computer

·      Reach out to business partners

o   I will touch upon how to approach these business partners in class on Tuesday.

Executives: CEO and CFO

·      Complete business registration form online

o   Basic things can be completed quickly

o   Particulars will take a couple or three days

§  Which type of corporation? Why?

§  Budget

·      Payroll

·      Rent

·      Utilities  - based on schedule I’ll find for you

·      Advertising/promotion

·      Inventory

·      Equipment

·      Supplies

§  How accurate will our budget be? 

***Please consult with Accounting/Finance Department to complete the financial information.  You will all need to research accurate figures to operate your business properly.  Your research results will either help or hurt us in receiving seed money.

Accounting/Finance

·      Assist executives in completing business registration form

·      Determine salaries for all employees at each level

o   Check O-net or Jobs4tn

o   Use the low end for salaries since we only have 19 employees

Sales/Marketing

·      Create product line – list EVERY product you intend to sell 

o   If you intend to do parties, include 2-3 packages at minimum

o   Base this on your audience – how much will they buy and what are they willing to pay?

·      Work on the 5 P’s

o   Product

o   Price

o   Place

o   Promotion

o   Positioning

Use the Scoring Rubric to complete the marketing mix 5 P’s.  We will utilize this rubric when writing anything for the business plan.

Admin and Human Resources

·      Establish company goals and refine mission statement and company vision – to be complete and approved by the firm at end of class Wednesday

·      Create company directory spreadsheet

·      Establish office equipment needed to start up - collaborate with Accounting/Finance department so our start-up costs are accurate.

Use the Scoring Rubric to complete mission statement.  We will utilize this rubric when writing anything for the business plan.

IT/Web Design

·      Company vision: how does each of the following look?

o   The business

o   The employees

o   The products

o   The customers

·      Begin making website

Begin by working on the company website design.  Once marketing has completed its product line (may not be until Wednesday) you can begin to add products to the site.  Remember, our products require a buy-now button when customers buy from us, and Mal’s is by far the easiest free one to use, however there will be an option to use a buy now from the VE home site (recommended).

I know it looks like a lot of work.  It is.  Starting up a business is a daunting task.  It requires you to work in class and out of class in order to succeed.  But don’t worry, guys.  You’re the best students in your class and are very capable of doing all this work really well.