06 Dec Overview Establishing the right management structure is necessary for the success of your venture because it can set the stage for an
Overview
Establishing the right management structure is necessary for the success of your venture because it can set the stage for an effective organization. However, the greatest business ideas will never get off the ground without financing. Whether it’s your own money, a loan from the bank, or capital from investors, identifying sources of funding is one of the first steps you will need to take to turn your idea into reality. This week you will research management and financing ideas for your venture.
What You’ll Need
- Your MacBook Pro laptop
- Internet access
- Project 2 Outline Template (Download section)
- Microsoft Office Word
Prepare
Download the Project 2 Outline Template:
Create
Conduct research to provide information on the following topics. Enter your research findings, ideas, and plans directly on the Project 2 Outline Template provided.
Management
- Describe an organizational, management, and staffing structure for the venture.
- List the top 3–5 priorities of the President/CEO in the first 90 days, and in the first year.
Finance
- Identify sources of capital, cash reserves, corporate credit, and other funding options for the venture.
- Identify multiple potential revenue streams.
- What are the fixed and variable expenses? Be sure to consider the organizational and staffing plans you outlined above.
- Explain the impact that your staffing decisions will have on your financial plan.
- Develop a budget framework to ensure positive cash flow.
While researching, go beyond simple web searches, and utilize academic and professional sites. Here are examples:
U.S. Small Business Administration
If you have any questions regarding specific websites or other resources that you would like to use, contact your instructor.
Submit
1. Save your Project 2 Outline Template as either an MS Word document.
2. Name your document as follows: LASTNAME_FIRSTNAME_Project 2
3. Upload your file to LAO and submit.
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