Evaluation sheet

Entrepreneurship course: evaluation sheet

Write a business plan for a company of your own making. It should be from your own industry of interest and include the following headings followed by 2-3 explanatory sentences

Business plan section

Description – Did the plan meet these points?

Is the product/service defined

Defining the product/service clearly and succinctly should be the main priority of any business plan. The definition should be easily understandable by both the target market of the product/service and someone not necessarily familiar with the market.

Is the uniqueness of the product/service determined

By identifying the uniqueness of the product/service the business plan will then be able to identify the reason why this product would stand out amongst competitors. The uniqueness will also provide the product with a competitive advantage over its rivals and also direct its marketing message.

Are weaknesses observed

Observing weaknesses in the product/service is needed to provide perspective and a dose of realism to the idea. By observing weaknesses in the business plan a company can alter or change elements of its idea to make the product/service stronger. Weaknesses can also become opportunities and these should be addressed from the outset.

Is the advantage to the consumer explained?

How clearly is this explained in the plan? What benefits will the consumer derive from the product/service and ultimately why would they pay for it over a rival’s product/service? Is this well explained?

Comments

Target market identified

Identifying the target market will help to segment those markets that will best produce sales and profits for the product/service?

Market segmentation will then direct many other functions of the product/service including advertising, sales, production, after sales service. How will the market be identified? Has this been indicated in the plan?

Marketing functions

What marketing will be used? How have these been identified and do they meet the criteria based on the targeted market segmentation above and the product as a whole?

Needs identified

Have the needs been objectively identified and verified? Are they adequate and reasonable taking into account the other factors of the plan? Is there a balance and logically structure between the needs?