Vaughn Translation Services Business Plan Proposal Week 2

Vaughn Language Translation Services Name Grantham University Date Table of Contents Outline of Business Plan TOC…………………………………..........................................3 Business Plan Introduction………………………………………………………................3 Expected Outcomes or Alternatives………………………………………………………..4 Key to Business Plan Success………………………………………………………….......4 Business Description……………………………………………………………………….5 References………………………………………………………………………………….5 Outline of Table of Contents for Business Plan * Cover Page (Name, course number, section, instructor name and the date) * Executive Summary * Table of contents * Industry Overview * Discussion of business * Analysis of business opportunity Marketing plan Financial Plan * Self- Analysis * Appendix * References Business Plan Introduction This project entails writing a business plan for Vaughn translation services. Vaughn translation services are still at the initial stages and are yet to be operational. The business plan is intended to be used as a guide during the startup and also used to solicit for funding for the whole project. It will be used as an action to launch an operational entity finally from the ideas of the founders. It helps in analyzing all the aspects of the business and reviewing the viability of each component and their potentials. The plan also forms a roadmap that will assist in monitoring and tracking the intended direction that the business is supposed to take. Additionally, the business plan will act as a tool to sell Vaughn translation services to potential investors and funders. The plan of activities offers a platform to be able to answer questions from investors in a clear and succinct manner. As a business student, acquiring proposal writing skills is imperative as it aids in my course work and earns me the necessary credit required to attain the necessary certification. Proposal writing skills is part of the entrepreneurial skills that students are impacted to be able to venture into entrepreneurship in a professional manner. According to Fayolle, Gailly & Lassas-Clerc (2006), there has been a rise in an education program that is aimed at training students in entrepreneurship. Gaining skills in business proposal writing will help me acquire skills required to participate my area of interest which is private practice and entrepreneurship. According to research done by Solomon (2007), the best and most effective way of teaching entrepreneurship was teaching business plan development and case studies alongside tutorials. Entrepreneurial knowledge is imperative as Bosma & Levie, (2010) quips, many businesses fail not due to lack of capital or market-related factors but rather because of lack of entrepreneurial skills. This project falls categorically in my area of interest, and I trust after completion I shall be able to use a business plan to analyses prospective business, the market, and its viability. I expect to have mastered essential skills to enable me to venture into the professional world of private practice and self-employment. I also hope to have acquired the necessary knowledge to merit credit award in my studies. Expected Outcomes or Alternatives The business plan is supposed to be used as a fundraising tool to help fund the venture. A quality and well business proposal will be used to describe the business in a compelling manner in which potential investors will be able to get a vivid description of my dreams and vision for the business and how business plans on achieving the vision. After completion, the program aims to provide a platform to verbally and virtually communicate the attractiveness of the investment. The model of the plan is to enable it to answer the following questions, why is there a need for the services, who are the target market for the business and how are the products unique and different from those of the competitor and how the new business plan on gaining a competitive advantage over the competition. Additionally, it will also answer the question of how profitable the business is, the cash f...