1... · Web viewDescribes plans to reach the market (i.e. sales force, licensing, distribution), location, and customer service policy Addresses plans for advertising and promotion

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Evaluation Rubric: Management and Organization Plan

NAME:_________________________________ DATE:_________________________________

Section Criteria Comments/Quality of Information Possible Points

Your Points

Legal Form of Business

Indicates legal form selected and state in which legal status is filed.

States why form was selected.

6

Management TeamTells who will lead and manage the business. Identifies qualifications and job responsibilities of entrepreneur and other key management team members.

Includes plans for future management positions and organization.

12

BoardIdentifies board/advisory committee members by name or position and their areas of contribution. States members’ qualifications and structure of relationships (i.e. meetings, communications, compensation.).

Includes expertise in essential areas for business success.

6

RecruitmentStates selection plans for employees.

Indicates any specific screening processes (drug tests, background check, etc).

5

CompensationIncludes ownership/ compensation of owner(s) and key management team members (salaries, benefits, bonuses, etc.). 3

Employee Incentives

Provides info on both monetary and non-monetary employee rewards/incentives.

3

Planning the Entrepreneurial Venture Exercise 15.3.1 Page 1 of 22



CommunicationIncludes plan for communicating mission and values and facilitating open communications within organization.

Identifies both written and verbal internal processes.

3

InfrastructureIdentifies consultants, independent contractors, key alliances.

Includes expertise contributed and compensation amounts/ methods.

7

Grammar/StyleComplete sentences. Written in name of business. No “we,” “I.” 5

TOTAL 50




Evaluation Rubric: Marketing Plan, Part I

NAME:_________________________________ DATE:_________________________________


Your Points

INDUSTRY PROFILE

I

Current Size Provides relevant and specific info on the size of the industry as a whole. Includes national, regional/state, and local data (if available).

Includes charts, numbers and percentages, as appropriate. Identifies dates and sources for info; sources are valid and relatively recent.

10

Growth Potential Includes info on the growth of the industry – past and projected.

Includes dates and sources for information; sources are valid and relatively recent.

4

Industry TrendsIdentifies industry trends – current and projected.

Includes dates and sources for information; sources are valid and relatively recent.

4

Conclusions Indicates what the industry research reveals

Findings and conclusions are summarized

4

Other Characteristics Identifies other relevant characteristic of the industry, including profitability.

Cites dates and sources of information.

2

DistributionStates how the product reaches customer.

Explains how distributions system will be accessed/utilized, if applicable.

2




COMPETITIVE ANALYSIS

Direct CompetitionIdentifies specific direct competitors. (This may require that you identify a specific location for the business.)

Identifies key competitors with addresses.

5

Indirect Competition Identifies businesses that can fill the same need.

Shows an understanding of the types of products/ services that might be substituted.

4

Future CompetitionIdentifies at least one likely source of competition in the future.

Includes rationale and/or source of information.

2

Competitive AnalysisIncludes Competitive Analysis Chart. Indicates how your business will be better/different from the competition.

Shows an understanding of the competition and identifies the source of a competitive advantage.

8

Grammar/Style Complete sentences. Written in name of business. No “we,” “I.”

5

TOTAL 50




Evaluation Rubric: Marketing Plan, Part II

NAME:_________________________________ DATE:_________________________________


Your Points

MARKET ANALYSIS

Target Market ProfileIncludes market profile (target market) with rationale for choice.

Includes description, size and market share potential. Cites source(s) of information.

7

Customer ProfileIncludes profile of typical customer, i.e. demographics, psychographics, product use, etc.

Identifies resources used to determine profile of typical customer.

7

Future MarketsIndicates new markets that might be considered in the future.

Describes opportunity, including market size and potential entry date.

2

MARKET PENETRATION

Company ImageDescribes business image--how customers will view the business.

Identifies key methods for communicating business “brand” to customers.

3

Customer ServiceStates a clear customer service policy.

Shows evidence of research of customer service policies for similar businesses.

2

Location States where the business will belocated and rationale for choice.

Indicates if or why this is a good location (in relation to typical customers).

2




SalesIndicates how internals and/or external sales will be handled.

Includes rationale for choice of sales method(s).

3

Advertising/PromotionIdentifies solid and creative ways to advertise/promote the business.

Shows an understanding of how potential customers seek out product/service.

Considers financial feasibility of utilizing various techniques.

3

Publicity Identifies creative ways to reach customers and gain publicity for business.

Shows an understanding of the difference between advertising and publicity.

3

Telemarketing/Direct Mail Direct Mail/Telemarketing: Identifies how list will be developed or obtained

2

Internet Indicates how Internet will be used: web page, order processing, social marketing, etc.

Shows evidence that you have researched the web usage and presence of similar businesses.

5

Trade Shows (if applicable)Identifies potential trade shows, if applicable.

Includes trade show specifics—locations, costs, participants.

2

Marketing EffectivenessTells how you will measure the effectiveness of marketing efforts.

Identifies method(s) for gathering information on marketing effectiveness.

2

Pricing Strategy and Policies

Clearly indicates pricing strategy to be used.

Includes at least one pricing policy and explains how it will apply.

Shows evidence of research on competitors’ pricing and indicates how prices compare.

2




Price List Provides detailed price list for all major categories or reference to one in appendix.

Shows evidence of research on pricing policies in the industry.

2


3

Total Points 50




Evaluation Rubric: Product/Service Plan

NAME:_________________________________ DATE:_________________________________

Section Criteria Comments/Quality of Content PossiblePoints

Your Points

Description of Product/Service

Gives a clear description of product or service

Tells what problem your product or service solves or how it is unique

7

Features/Benefits States several key features and their corresponding benefits

Tells why features are important to the consumer

7

Stage of Development Indicates stage of development of the industry (introductory, growth, maturity or decline)

Includes stage of development of the business with timeframe for achieving next stage

4

Limitations Indicates one or more limitations of the business--product or service

Explains why this is a limitation

5

Liability Identifies areas of liability for the business.

Explains how the liabilities will be addressed

7

Production/facilities Tells how the business will operate

Tells where the business will be located and how the product/service will be produced or delivered to customers

5




Suppliers Identifies existing or potential suppliers

Lists major raw materials and/or service providers

5

Related and spin-offs Identifies at least one potential spin- off

Identifies future products/services or businesses 5

Intellectual property States if business will have any trademarks, patents, copyrights, trade secrets, etc.

Identifies intellectual property which is a potential source of a competitive advantage

4

Government Approvals/Regulations

Identifies government regulations impacting the business

Lists city, county, state, and federal regulations that apply.

6


5

TOTAL POINTS 60




Evaluation Rubric: Financial Plan/Statements, Part I

NAME:__________________________________ DATE: ___________________________

Section CriteriaComments/Quality of Information

Possible Points

Your Points

Set Up Worksheet (tab at the bottom of the Excel spreadsheet.)

Includes basic set-up information for business.

Information appropriate for type of business.

NOTE: If you are a start-up business, skip the Historical Balance Sheet as it does not apply to start-ups.

4

Start-Up Worksheet (tab at the bottom of the Excel spreadsheet.)

Identifies funding requirements and costs for starting the business.

Includes explanations in notes section.

NOTE: To show sufficient financial resources to start a business, Total Start-Up Cash must be equal to or greater than Total Start-Up Expenditures.

10

Sales Worksheet(tab at the bottom of the Excel spreadsheet.)

Shows sales by major categories.

Sales projections appear to be reasonable for type of business.

NOTE: Include assumptions made for each sales category. For example, an assumption for the sale of lawnmowers for a garden supply store might be: “Sales of Product A, lawn mowers, are seasonal. Sales for spring and summer are estimated at 25 units a month. Sales in late summer, fall, and winter are estimated at 5 units a month.

18




Inventory Worksheet (tab at the bottom of the Excel spreadsheet.)

Shows materials/ inventory costs for retailers and manufacturers. NOTE: Service business will not have inventory costs and will skip this worksheet

Expenses are reasonable for type of business.

Inventory level is logical, always positive.

Costs of Goods Sold (COGS) reflect research of industry norms.

Assumptions are included for each cost estimate.

10

Operating Expenses Worksheet (tab at the bottom of the Excel spreadsheet.)

Includes operating and sales expenses

Expenses are appropriate and reasonable and reflect research or knowledge of similar businesses.

Assumptions explain how expense categories are estimated. Expenses not straightlined—same every month—unless they truly remain constant.

Corporations: Entrepreneur pays self for work. Salaries and benefits are in line with industry standards or entrepreneur’s goals.

18

Total Points 60




Evaluation Rubric: Financial Plan/Statements, Part II

NAME:___________________________________ DATE: ___________________________


Your Points

Capital Budget (tab at the bottom of the Excel

spreadsheet.)

Includes asset purchases, prepaid expenses and payouts to owners NOTE: Pay-out to owners may be termed owner’s draw, dividends, or distributions, depending on legal structure of business.

Realistic for type of business.

Space modifications are included as leasehold improvements.

6

Equity and Debt (tab at the bottom of the Excel spreadsheet.)

Shows debt and equity associated with Start-Up Worksheet as well as new sources.

Shows principal and interest payments on debt.

Debt expenses reflect realistic interest rate/terms.

6

Amortization Schedule (tab at the bottom of the Excel spreadsheet.)

Shows paying off debt at regular intervals over a period of time.

Schedule completed for each loan.

4

Monthly Income Statement

Reflects monthly profits and/or losses.

Figures appear reasonable for type of business.

3

Break Even Analysis Break Even determined in Sales Dollars

Break Even determined in Units

6

Cash Flow Statement Figures appear reasonable for type of business.

Cash balances are always positive and appropriate to maintain operations of business.

3




Year-End Income Statement

Reflect yearly profits and/or losses.


3

Year-End Balance Sheet

Shows companies assets and claims against those assets at a specific point in time.


3

Ratio Analysis Measures profitability, liquidity, risk and efficiency.


3

General Figures on various documents are compatible and consistent.

3

Total Points 40




Evaluation Rubric: Financial Summary

NAME:____________________________________ DATE: ____________________________


Your Points

Start-Up CostsGives general breakdown by category: start-up expenditures, start-up expenses, opening inventory, capital expenditures.

4

Sales ProjectionsProvides sales projections by year.

Includes rationale for how sales calculated.

4

Break Even AnalysisBreak Even state in units and in dollars. 4

Income ProjectionsProvides income projection by year.

Shows evidence of research on costs and profitability of business.

4

Cash Requirements States the cash requirements for start-up, operations and growth of business.

References connection between cash requirements and cash flow

5

Sources of Financing States how funding/financing will be obtained.

Shows realistic funding sources for type of business. Includes costs of financing.

3

Exit Strategy Includes a clear exit plan.

Shows how exit will guide development of business.

3


3

TOTAL 30




Evaluation Rubric: Overall Business Plan

NAME:____________________________________ DATE _____________________________

Section Criteria Comments/Quality of Information PossiblePoints

Your Points

Executive Summary Highlights key information in plan; the business plan miniature.

20

Product/Service Clearly described business, product/service. Demonstrates the feedback from drafts was incorporated; improvements over earlier submission.

30

Management/Organization Identifies key team members, their qualifications and contributions.

Demonstrates the feedback from drafts was incorporated; improvements over earlier submission.

30

Marketing Describes Industry, market and customersDemonstrates the feedback from drafts was incorporated; improvements over earlier submission.

30

Financials Includes funding sources and uses, and key financial statements.

Demonstrates the feedback from drafts was incorporated; improvements from drafts.

30

Grammar/Style Complete sentences. Written in name of business. No “we,” “I.” Professional appearance.

10

Total 150




Evaluation Rubric: Your Business Plan

Learning ObjectiveUse a business plan checklist to evaluate your plan’s strengths and weaknesses with regard to style, format and content requirements.

OverviewFor this exercise, you will evaluate your business plan using the same checklist that your instructor will use to critique your business plan.

Step 1Read your business plan

Step 2Use the following checklist to critique your plan. Score your plan on each item by placing an “X” in the appropriate column below. An “X” in column 1 or 2 (a low score) indicates improvement is needed. An “X” in column 4 or 5 represents a high score, or above average completion of the item.

In the Summary Comments section on the last page, note specific aspects that make the plan strong. Also identify specific areas of weakness and explain how you will improve these areas.

Planning the Entrepreneurial Venture Business Plan Checklist

OVERALL READABILITY Low 1 2 3 4 5 High

Language is clear and concise (does not read like a novel or term paper).

Each section stands on its own and clearly defines and satisfies its objective.

Facts are supported with sufficient documentation (data, charts, and graphs.

Conclusions drawn from facts are reasonable.


Mary Beth Izard, 01/06/11,

Duplicate scale for each category



OVERALL SPELLING/GRAMMAR/MATH YES NO

Spelling is correct.

Grammar is clean.

Math is error-free.

OVERALL FORMATTING YES NO

Font choice is readable.

Spacing between lines is sufficient.

Plan contains headings and subheadings.

Formatting on headings and subheadings is consistent.

Plan includes page numbers.

Plan contains enough white space for readability.

COVER PAGE/TABLE OF CONTENTS YES NO

Cover page contains appropriate information, name of business, chief executive’s name, contact information (i.e. address, telephone, fax numbers, e-mail, and Web address).

Cover page contains company logo.

Page numbers in table of contents correspond correctly to plan content.

Appendix includes a table of contents.



Format as above for this an rest of document, up to Appendix.



EXECUTIVE SUMMARY YES NO

Includes brief overview of key components of business plan in three pages or less.

Describes the unique features and benefits of the product/service.

Identifies the management team, their qualifications, and supporting infrastructure.

Describes the opportunities presented.

Contains plans for penetrating the target market selected.

Specifies how much money the company needs and how funds will be obtained.

PRODUCTS/SERVICES YES NO

Describes product/service in plain English (not too technical).

Describes product/service in specific terms (not too broad).

Provides evidence that the product/service is technologically feasible.

Identifies stage of development and future milestones

Identifies unique features.

Identifies special benefits.

Wholly explains product/service limitations and potential solutions.

Wholly explains product/service liabilities and potential solutions.

Identifies production process and facility plans, if applicable

Identifies suppliers, backup suppliers and subcontractors.

Anticipates future related products/services and spin-offs.

Describes the ways intellectual property will be created and protected.

Lists requirements from regulatory agencies.




MANAGEMENT AND ORGANIZATION YES NO

Explains the legal form of business and identifies state in which legal forms will be filed.

Lists key management team members/positions, including qualifications and primary job responsibilities.

Identifies the board of directors/advisory council members, including primary contributions expected.

Establishes credibility of the management team.

Documents the process of recruiting, selecting and communicating with employees.

Clarifies the compensation and employee reward systems.

Identifies infrastructure members—key advisors, professionals, strategic alliances.

MARKETING PLAN—INDUSTRY PROFILE YES NO

Includes current size and growth potential of the industry.

Discusses industry trends and opportunities associated with each.

Addresses industry profit potential and other key industry characteristics (i.e. geographic locations, seasonality).

Draws conclusions regarding industry research

Identifies how distribution network will be utilized (if relevant).

MARKETING PLAN—COMPETITIVE ANALYSIS YES NO

Identifies direct, indirect, and future competition.

Includes competitive matrix identifying key competitors.

Describes competitive advantage and position in the marketplace.




MARKETING PLAN—ANALYSIS AND PENETRATION YES NO

Describes market profile (target market), including size

Contains customer profile--“typical” customer.

Identifies potential new markets in the future.

Fully illustrates the image of the company

Describes plans to reach the market (i.e. sales force, licensing, distribution), location, and customer service policy

Addresses plans for advertising and promotion.

Describes strategies for utilizing the Internet.

Discusses other penetration strategies, including publicity, telemarketing/direct mail, and trade shows.

Describes plans for evaluating market penetration effectiveness.

MARKETING PLAN—PRICING YES NO

Addresses pricing strategy.

Contains price list, if applicable.

Contains the company’s pricing policies.

FINANCIAL PLAN YES NO

Start-up costs identified.

Sales and profit projections appear to be reasonable.

Assumptions and projections are wholly supported.

All operating expenses have been included.

Salaries and other benefits are in line with industry standards or entrepreneur’s goals.

Includes Break Even analysis

Figures on various documents are consistent.

Sources of debt or equity financing are appropriately identified.




Exit strategy is clearly defined.

APPENDIX (Not all items will be relevant) YES NO

Contains resumes of the management team and key personnel.

Contains all employee contracts, stock option plans, retirement plans.

Contains personal financial statements for each of the principals.

Contains patent and copyright approvals.

Contains such agreements as partnerships, sales, distributor contracts, noncompete/nondisclosure, corporate bylaws, and other legal documents.

Contains copies of product and service brochures or other advertising samples.

Contains copies of all logos that have been developed.

Contains copies of recent reference letters, recommendations, and endorsements.

Contains copies of market studies or articles from trade journals or other media.

Contains professional photographs of the product.

Contains detailed outlines of the operating and control systems.

Contains customer-signed orders or letters of intent.

Contains documents that support the industry study.

Contains detailed description of high-tech products.



Keep YES/No format for this section only.


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Summary Comments Overall1. Strengths:

2. Weaknesses:

3. Suggestions for improvement:
