the business plan executive summary

the business plan executive summary

Developing a Business Plan Executive Summary

1. Introduction

Evidently, the first step of this journey is to carefully plan a path to reach the destination. This entails an idea that a person has chosen to develop. mWay Consulting has the idea of creating a database software for medical students at the University of Alberta. Immense knowledge can be gained through this idea by asking professors and students involving the field. This will help students who are confused with certain topics and for those who are determined to do well in the competitive medical program. In order to reach the finish line, one must use this idea to uncover a series of opportunities. With cloak-and-dagger, it is essential to uncover areas that are not visible to his competitors. A good example is a software that can help consumers avoid making meals that will result in certain food poisoning. Honestly, there is no specific recipe for this sort of success. But regardless, it is important to plan how these ideas will lead to success.

Imagine wherein an individual is lost in an unknown place, given a chance to find his way out, he should expect to face unobstructed roads while others are not. Entrepreneurship is placing the individual in the scenario given. It is a journey with an unclear path to his idea of success. One is willing to accept the risk and uncertainty only to realize an opportunity. These opportunities emerge from ideas that serve as a problem-solving tool or to merely answer the question “What if…?”

2. Company Overview

The scooter’s platform, which you stand on to operate the controls, has a carrying capacity of 117kg. The wheels used on the scooter are a special type of tire called a puncture-resistant, all-terrain tire. This tire is designed to increase rider safety through enhanced traction and grip on a wide variety of surfaces due to its larger size and aggressive tread. It will also absorb the shock of and provide increased ground clearance over obstacles, which would cause a small-wheeled vehicle to jolt or change rider posture, negating the ease of ride offered by the Segway.

The Segway scooter is a two-wheel device using a dynamic stabilization system employing solid-state gyroscopes and tilt sensors. In layman’s terms, this means that it will balance itself while powered on and stationary. All you need to do is apply pressure to the footpad controls on the platform, and the Segway will begin to move or continue to keep its current position on an incline. To turn the scooter, simply turn the left or right side of the handlebar in the corresponding direction. There are no gears or complex maneuvers required. These advanced electronics and the absence of any harmful emissions make it an extremely green transportation solution ideal for indoor use.

The Segway scooter takes all the hard work out of moving around while standing up. Whether it be at the office or warehouse, a trip down to your local shops or public transport to and from the city, the Segway will save you time and fatigue compared to walking. It achieves this by being a battery-powered, self-balancing device controlled by the direction in which the handlebar is turned and your speed of movement.

3. Market Analysis

Demand for environmentally sound building is clear throughout the world. Gas and oil prices are at all-time highs. People are seeking to cut costs in any way possible. Though there is a very strong movement toward cheaper energy costs, building expenses are still an issue. By using environmentally sound building materials and techniques, it is possible to reduce long-term maintenance costs of the building, increase building life, and decrease energy expenses. Builders have not been the ones seeking out these methods and materials, but are being forced to by an educated consumer. With the recent trends in global warming talks and depletion of the ozone layer, people are finding it necessary to take preventive measures to fix the issues. Firms and consumers can save tens of thousands in energy expenses over the life of the building. By using effective insulation, companies can reduce energy costs and consumption. High-performance insulation costs about 10% more than traditional products and can reduce cooling and heating costs by about 20%. This is a huge long-term cost savings and Durability, Efficiency, and Sustainability has found ways to use recycled materials to produce effective insulation. Shifting from the past where eco-friendly construction costs much more than traditional building, we can accommodate clients with tight budgets and still build using effective and efficient techniques. The building material supplier industry is a tough one to break into. There are many large and small firms which we have mentioned already. Some prefer tradition, but there are always new buildings being built and new construction projects. These suppliers are our direct customers and they purchase things to fill the needs of the subcontractors and the builders. In the Chicago area, an overwhelming amount of buildings and structures have survived years and years and have decayed and become unsafe. A high percentage of these are taken down and rebuilt. Because of this, we can cater to suppliers over a widespread and extensive customer base. With our educational approach to the benefits of eco-friendly building, we can offer these supplies to those who are rebuilding structures that have failed due to corrosion, damage, or insufficient building techniques.

4. Competitive Advantage

Competitive advantage is what separates a firm from the competition in the minds of the customers and gives it the edge over the others. The objective of our company is to introduce our product to international markets. As there are many emerging small firms providing the same service, our job is to distinguish them and provide a guideline to success. Our method to entering the market is with the use of a niche market. A niche market is a group of people who have very specific needs for a product or service at the marketing mix in which the firm can be dealing profitably with the least amount of competition. The less competition the company has, the higher the profit margins will be. What is significant in this strategy is the convenience of the internet. Our service is no different from the ones provided by the companies up until today. However, without the huge infrastructure our competitors have, we will market our services at a much cheaper rate. This will provide a discounted service to companies and individuals while still maintaining profit margin due to low operation costs. This will also allow us to provide an affiliate program, giving companies incentive to be sales representatives because of the high commission for something the clients will perceive as a good deal. With an affiliate program, the sales reps being the companies themselves, and a direct linkage to consumer sales, there will be heavy implementation of the pull strategy to try and shift the product.

5. Financial Projections

Under the Schedule C method, the TK Corporation will break even in the first month of operation. With the ability to recognize income and expenses, this will allow TK Corporation to save an additional $18,000 per year by hiring an employee as a shared expense with the parent company for invoicing and other project coordinating tasks. This will allow the TK Corporation to realize a future project break-even point with less workload on the owners, thus more income available for the future. The co-owners will slowly increase the workforce from four to six by the end of year three, increasing the workload to the sixth employee as a future replacement. The estimated average net income per year over the first five years is 79.92%, disregarding any additional assignments from the current client. With projected growth of the company, maintaining on average eight employees per year in SPF, this will equate to an average net income of $168,000 per year towards the fifth year. The future project break-even point will be realized with twelve employees at $214,000 net income with the ability to recognize income and expenses for future saved expenses of $36,000 mentioned above.