INTERGRATIVE PROJECT

Intergrative Project Assignment Proposal (Personal and Professional Development)

Intergrative Project Assignment Proposal (Personal and Professional Development)

Business Proposal Introduction

When beginning an enterprise it's important to know businesses that start without a business plan fail within the first two years. Success in modern business requires planning. It makes good sense at any early stage to seek the advice and assistance of an experienced professional to ensure that your business is set up on a sound footing. That's where Parfrey Murphy can help you.Background

Before carrying out any detailed work it is essential to analyse your business and appraise your basic commercial strategy. Ask yourself the following questions:What exactly is the product or service you are selling?Is it, or how will it be, ready for its market?How do you go from developed product to first sales?Where, precisely, are those first sales coming from?What team will achieve this?

What are you expecting your business to be doing in a few years' time? What team will be achieving that?Should it be the same?

You, the entrepreneur, will be playing a developing role in this business. How are you going to:

Drive The Business Forward,

Get Those Vital Sales At The Right Margins,

Meet The Production Schedules,

Administer The Business So That You Know Where You Are, have reliable and up to date management information and lead the development of the team managers that you will need in order to achieve your expansion?

If you don't know, or you are just a brilliant inventor who does not really care, stop now!

Finally, do not underestimate the amount of time required to establish and finance a new business venture. It can take up to six months.FIRST PROJECT APPRAISAL

The entrepreneur's first appraisal of the business is the most important. You must appraise your own proposals - taking independent advice and critical comment where necessary - in order to get the important elements clearly in your mind before spending time on more detailed business planning. Done well, your self-appraisal will match the bank's or venture capitalist's appraisal of the major elements of your business.You should begin with fundamental considerations and build up more detailed appraisals afterwards. Start with the three M's: management, markets and margins.

Without competent management, a properly understood market into which the product will sell, and more than adequate margins from trading, there will be little point in taking it further. You cannot assume that all these elements will be there because of the excellence of the product or service. You need to be able to demonstrate, by independent evidence, that each of these elements is present in the business.

The product, the market, the management team and an appropriate commercial strategy go together. It is not always appropriate, for example, to go it alone with a one-product business in a fast moving area of technological development. If the technology needs to be eased into a market dominated by big companies and the management team does not have the skill to do that, a joint venture - teaming up with a significant company ...