You are going to start a new business, a company of your own! Part of that initiative involves drafting a Business Plan for your company. Choose ONE of the following six ideas for your company, or come up with a completely new idea if you don’t like anything on the list:
1. An amazing new piece of computer software.
2. An incredible new food or beverage
3. A flying electric car
4. A new video game
5. A retail service like a store or a salon
6. A home service like cleaning, landscaping, painting, tutoring, counselling
For your new company, answer the following two questions (starting on the next page). You may use as much space as you like, but I would expect 2-3 pages minimum per question
response.


Page 2
1. Provide a thorough description of your product or service (20 Marks). At a *minimum
you should describe:
A. What is it? What does it do? What price will you sell it for?
B. Who are your target customers?
C. What problem is it that your trying to solve for them, or what opportunity exists
with these potential customers?
D. What is the product’s Value Proposition, ie what does it do that makes it superior
to the competition, if there is any competition?
2. Describe your company (20 Marks). At a *minimum you should describe:
A. What is it named?
B. Where will it be located, and will everyone be in one place or will there be
multiple locations? Why?
C. What kind of skills will be required to staff the organization and why?
D. How will you get your product to market, ie where and how will you sell it? Why
would you do it this way?
E. What kind of marketing will you do? Will you use internet, TV, Social Media,
etc., and why are you choosing these media?