Table of Contents Preface ......................................................................................................................4 1. THE ROUTE FROM CONCEPT TO COMPANY ................................................... 4 1.1 Success factors.................4 1.2 Stages of development ....5 2. THE BUSINESS IDEA ........................................................................................... 8 2.1 Development of a business idea .....................................................................................................................8 2.2 Elements of a promising business idea ..........................................................................................................9 2.3 Protecting your business idea ......................................................................................................................13 2.4 Presenting to investors .14 3. THE BUSINESS PLAN........................................................................................ 16 3.1 Advantages of a business plan .....................................................................................................................16 3.2 Characteristics of a successful business plan..............................................................................................16 3.3 The investor's point of view .........................................................................................................................18 3.4 Tips on preparing a professional business plan .........................................................................................21 4. STRUCTURE AND KEY ELEMENTS OF A BUSINESS PLAN .......................... 23 4.1 Executive summary.......23 4.2 Product or service.........24 4.3 Management team ........26 4.4 Market and competitio28 4.5 Marketing and sales......32 4.6 Business system and organization ...............................................................................................................37 4.7 Implementation schedu41 4.8 Opportunities and risks42 4.9 Financial planning and financing................................................................................................................42 5. CASE STUDY: "CITYSCAPE" ............................................................................ 48 5.1 "CityScape": Idea and business concept ...................................................................................................48 5.2 "CityScape": Business plan .........................................................................................................................49 5.2.1.- EXECUTIVE SUMMARY .................................................................................................................50 5.2.2. - SERVICE IDEA .52 5.2.3. - MANAGEMENT TEAM...................................................................................................................53 5.2.4. - MARKET AND COMPETITION......................................................................................................54 5.2.5. - COMPETITOR ANALYSIS ..............................................................................................................55 5.2.6. – CITY SCOPE'S COMPETITIVE ADVANTAGES ..........................................................................56 5.2.6. - MARKETING AND SALES..............................................................................................................57 5.2.7. - BUSINESS SYSTEM AND ORGANIZATION................................................................................58 5.2.8. - IMPLEMENTATION SCHEDULE...................................................................................................60 5.2.9. - OPPORTUNITIES AND RISKS..............................................