Business Plan Guidelines for the Rhode Island Business Plan CompetitionBy April 16, 2008, the six semifinalists in each track will be invited to submit 12 copies of their full plans to the Rhode Island Business Plan Competition.
Complete plans are due by NOON, April 22, 2008.Writing your business plan is an ongoing process and should not be left to the end. Please adhere to the following guidelines. - Plans should be printed in 12-point Times Roman font on white paper, using 1-inch margins on all four margins. Any graphics, tables or charts should be electronically pasted in place.
- Limit your plan to 30 pages, including cover page, appendices, and exhibits.
- Plans should be bound by a staple in the top left corner; do not enclose in 3-ring binders, plastic covers, wire-O binders, etc.
- Mark your business plan “Confidential.” See the section on Protection of Intellectual Property.
- The following sections are recommended:
| SECTION | WHICH INCLUDES | | Cover page | Title of business plan. | | Table of contents | Listing of all sections - one page long. | | Executive Summary | An overview of the financial opportunity and the investment required, as well as the ability of the management team to make it all happen. The judges rely heavily on the Executive Summary to determine their interest in the plan. | | Company Description | Mission, products, and services. | | Industry Analysis | Size and growth projections, seasonal factors, special technologies relevant to industry growth, susceptibility to economic factors, regulatory issues, and special practices. | | The Target Market | Relevant trends, supply and demand factors, purchasing patterns, life cycle patterns, and factors that could change/upset the target market. | | Competition | The position of your product or service within the target market, success factors, barriers to entry, existing and emerging competitors. | | Management | Principals and other key employees, directors, the organization today and what you expect the team to look like at 12, 24, and 36 months after launch. (Resumes go in Appendix.) | | Sales Strategy | Sales assumptions and sales model, marketing messages, marketing and promotion tactics, and sales force structure.Include an explanation of their business model in their plans. Your business model explains how you will generate revenue, e.g. through sales, consulting, licensing, royalties, etc., and how those will be obtained, e.g. direct sales force, distribution agreements, etc. | | Operations | R&D, plant, equipment, and related facilities, production plans, inventory plans, supply and distribution methods, information systems, and customer service. | | Milestones | Short-, medium-, and long-term goals, and exit plans | | Financials | Three to five years of annual pro forma statements (and historical data if they exist) of income and cash flow, balance sheets, and uses of funds, along with relevant assumptions.Carefully review your financial projections. It may be helpful to have someone who is more fully versed in finances to review your projections. | | Risks | Analysis of risks to each of the major sections listed above. | | Appendices | This is where resumes of all team members belong.May include names and phone numbers of personal and professional references, industry consultants, surveys, relevant journal and magazine articles, background on the competition, trade show dates, supplier information, and license agreements. |
Learn about what judges look for in a business plan. Click here. |
