Create a business case

1. Executive Summary

The executive summary summarizes the business case, including your recommendation. It is often best written last, when youre clear about your recommended course of action, and why.

2. Introduction

This section introduces the business case and briefly sets out what it is about.

3. Statement of the problem

This should be a brief paragraph stating the problem. It should relate back to the why your business will exists and describe the problem it solves and how solving the problem is important.

4. Analysis

This section provides a more detailed account of the problem and why it is important to address it. It should include any analysis you have carried out that identifies the impact of, or the reasons for, or the problem. Hard evidence is always helpful: the number of people affected, or the cost to the those impacted.

5. Discussion of Possible Options

You should identify and discuss possible options for addressing the problem, including doing nothing. For each one, you need to discuss:

- The benefits: why it would be a good idea to do it, including how far it addresses the problem.

- The costs, including resource requirements. Its often helpful to include figures and graphs here, now that weve spend weeks creating varies types.

- The likely timeline for the startup, and when you expect to see a return on the investment, with reasons; and

- The risks, both of doing it, and what might prevent successful implementation.

As best as possible, these should be realistic, and preferably supported by solid data. Where you have estimates, this should be based on reasonable sources, which you should cite when possible.

6. Recommendation

Finally, you should make a recommendation for which option is best, weighing the costs and benefits.

7. Details of your Chosen Option

Depending on the business startup your group selects, the nature of the business case, and how you feel about it, at this stage..you may wish to include a more detailed consideration of your chosen option. Alternatively, you could include a more detailed analysis in an appendix, including all the supporting data, or provide a later report with all the project details.

Options for including more details can include but are not limited to; an outlined project plan for the construction of site where your business will open (if you are choosing a brick and mortar site), or you could include a more thorough and complete risk analysis.

Including this level of detail will demonstrate that you have thought through the business case in some detail and have a reasonable idea of how long it will take, what resources will be necessary, and how to mitigate the risks. This should help you assess what the requirements are for carrying out the work, or whether additional resources will be needed.

You should also make some proposals for project governance, including a group to oversee the project and any critical decision points.

Your Business Case may require a detailed financial appraisal, including opportunity costs of the project, and some Break-Even Analysis if the payback period is several years.

It is also helpful to include information about outcomes and success criteria (thinkstatistical analysis):

• how will you know that your Business is successful?

8. Conclusion

You should conclude the business case with a reminder to the reader of why it is important that your Start-up Business addresses the problem. Make sure that you have made clear why your proposal is the best way of addressing the problem