...Business Plan Writing for Small Businesses and Entrepreneurs First Screen DeVry University, SBE 440 Alex Smith Professor: Florinel-Frank Cotae July, 10, 2011 First Screen From “Preparing Effective Business Plans” by Bruce R. Barringer McDonald’s Restaurant Part 1: Strength of Business Idea For each item, circle the most appropriate answer and make note of the (-1), (0), or (+1) score. | | Low Potential (-1) | Moderate Potential (0) | High Potential (+1) | 1. | Extent to which the idea: * Takes advantage of an environmental trend * Solves a problem * Addresses an unfilled gap in the marketplace | Weak | Moderate | Strong | 2. | Timeliness of entry to market | Not timely | Moderately timely | Very timely | 3. | Extent to which the idea “adds value” for its buyer or end user | Low | Medium | High | 4. | Extent to which the customer is satisfied by competing products that are already available | Very satisfied | Moderately satisfied | Not very satisfied or ambivalent | 5. | Degree to which the idea requires customers to change their basic practices or behaviors | Substantial changes required | Moderate changes required | Small to no changes required | Part 2: Industry-Related Issues | | Low Potential (-1) | Moderate Potential (0) | High Potential (+1) | 1. | Number of competitors | Many | Few | None | 2. | Stage of industry life cycle | Maturity phase or decline phase | Growth phase | Emergence phase | 3. | Growth rate...
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...for every founder was pretty logical at the moment when NanoGene was created, but as it seems through time this should have changed. As time went by roles within NanoGene were changing and also responsibilities, so compensations and salaries may have changed according to the duty the founder perform and some equivalence with market salary for the same job. As a potential venture investor the way the equity is divided within the founders is relevant, because it´s easier to negotiate and get to agreement when you treat with one or two, rather than a group of people (with common interests, but potentially different points of view). •Evaluate the size and composition of the founding team. What is the difference between being a founder and an early employee? Hint: try to understand well what it means to have "options". The founding team was too big, this is a problem when decision-making time comes, you have to agree with everybody else, so agreement tend to be simpler when less people( and opinions) are involved. In respect to the composition of the team, it is better that somebody owns at least a minimum amount more than the others, so he can have the decision control. A founder owns a percentage of NanoGene Technologies´s equity, while an early employee has an amount of options, what refers to a discount when he wanted to acquire shares. So an early employee has a potential participation in the NanoGene if they decide to do effective. Also the salary of a founder is bigger...
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...Compensation Overview Making Money With WakeUpNow Income Disclosure available at wakeupnow.com/ids. Avg. IBO earns less than $100 Version 3.2014.001 Income Disclosure available at wakeupnow.com/ids. Avg. IBO earns less than $100 Version 3.2014.001 Table of Contents Welcome How Do I Get Paid? Retail Payouts Team Payouts Compensation Plan Chart Luxury Payouts Customers and Structures Conclusion Income Disclosure Statement 1 2 4 6 8 11 18 19 20 WakeUpNow: Live the WUNLIFE. Income Disclosure available at wakeupnow.com/ids. Avg. IBO earns less than $100 Version 3.2014.001 Welcome Congratulations on joining WakeUpNow! WakeUpNow’s business model is built on the oldest type of advertising: wordof-mouth. Instead of buying advertising like television and radio ads, WakeUpNow pays commissions for sharing its amazing products and services with others. It is important to understand that all commissions are based on the sale of products and services to end consumers—that is to customers who purchase WakeUpNow products for their personal use. When you elect to convert from a Preferred Customer to a distributor (Independent Business Owner or IBO), you have taken the first step to earning commissions. You don’t earn commissions for recruiting other IBOs, but you can earn commissions whenever those IBOs or their customers buy products and services—and the more IBOs you bring in, the more products your organization can sell. This guide is your quick look at how WakeUpNow IBOs make money...
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...Part 4: Founder – (or Founders-) Related Issues * Founder of founders experience in the industry/ are of high potential and with experience. All products are specially hand made and designed. The experience is due to the many years of this type of work as a hobby that had eventually seen its potential as a growing business. * Found or founder’s skills as they relate to the proposed new ventures product or service/ is of high potential, and the founder is at a highly skilled level. Due to the amount experience there is a great level of skill that is put into the creation of these products. * Extent of the founders professional and social networks in the relevant industry/ is of moderate potential because of the only form of networking is Facebook, with there still being room for potential growth. * Extent to which the proposed new venture meets the founder or founders personal goals and aspirations/ is of high potential and strong. Founder is focused on goals set by herself and measures goals with each product being made on time or in time for sale. * Likelihood that a team can put together to launch and grow the new venture/ has high potential and is very likely depending on the desire to want to grow the business or consumer demand for products. With that it can become very likely to put a team together to get products out more efficiently. Part 5: Financial Issues * Initial Capital Investment/ is of high potential and requires a...
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...Succeeding the Founder How to Lead a Successful Transition as the Successor Photo Copyright © 2012 Judd Patterson Photo Copyright © 2012 Judd Patterson Reprinted by permission from The CEO Advantage Journal, a publication of CEO Advisors, LLC. Visit w w w.tcajournal.com. by Ben Anderson-Ray and John Kobasic N AUGUST 24, 2011, Steve Jobs resigned his role as Apple CEO and was replaced by Tim Cook. This followed a seven-month period in which Cook was already functioning O O as CEO while Jobs focused on fighting the health problems that ultimately took his life on October 5. Many are watching to see how this unique leadership transition will work out for Apple, but it is not the first unique leadership transition they have faced. Jobs, of course, was the cofounder of Apple, but organizational infighting led to his ouster when John Sculley took over in the mid-1980s. Sculley oversaw the growth of the Macintosh and thus the company, but when that growth slowed and new internal issues arose, a series of CEOs failed to get the company back on track. In 1997, a more experienced Jobs returned and drove tremendous growth. The leadership history of Apple is a good reminder that a leadership transition–particularly one involving the founder– presents both risk and opportunity to any organization. If done poorly, it spawns uncertainty, conflict, and stress, stalling growth and exacerbating misalignment that may or may not have already been there. If done well...
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...The data of FOUNDER TECHNOLOGY GROUP CO.LTD between 2012 and 2014 is as follows: | 2012 | 2013 | Compared with 2012 | 2014 | Compared with 2013 | Current ratio | 1.54 | 1.51 | -0.03 | 0.86 | -0.65 | Quick ratio | 1.26 | 1.32 | 0.06 | 0.66 | -0.66 | Cash ratio | 0.60 | 0.74 | 0.13 | 0.31 | -0.43 | The data of TSINGHUA TONGFANG between 2012 and 2014 is as follows: | 2012 | 2013 | Compared with 2012 | 2014 | Compared with 2014 | Current ratio | 0.96 | 0.92 | -0.04 | 0.92 | 0.01 | Quick ratio | 0.64 | 0.63 | -0.01 | 0.62 | -0.01 | Cash ratio | 0.22 | 0.24 | 0.02 | 0.24 | 0.00 | (1)Current Ratio From the data, we can see that the current ratio of Founder Technology between 2012 and 2014 is continuously declining which means that the Founder Technology’s ability to pay its bill over the short run is becoming weaker. In 2012 and 2013 the current ratio is above 1, but in 2014 the current ratio below 1 which means that the net working capital becomes negative. The Founder Technology should strengthen its ability to pay the bill in the short run. TSINGHUA TONGFANG’s current ratio between 2012 and 2014 slightly declined. Although it is stable but it is lower than TSINGHUA TONGFANG’s ability to pay its bill in short-term should be strengthened. Compared with TSINGHUA TONGFANG, the current ratio of the Founder Technology is less stable, but in 2012 and 2013 the Founder Technology did better than TSINGHUA TONGFANG. In 2014, the Founder Technology’s...
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...POINTS------------------------------------------------------------------------- MAJOR EVENTS-------------------------------------------------------------------------------------------- SIGNIFICANT WRITINGS-------------------------------------------------------------------------------- CONCLUSION----------------------------------------------------------------------------------------------- BIBLIOGRAPHY-------------------------------------------------------------------------------------------- 2 Introduction It has often been stated and thought that Martin Luther was the founder and originator of the Protestant Reformation. Was Martin Luther the founder of the Protestant Reformation? The historical record reveals that although Martin Luther played a very significant role in the formation of the Protestant Reformation; and contributed greatly to its cause and purpose, reformation against unbiblical doctrine was set into motion long before the appearance of the Roman Catholic Church or Martin Luther. All true Bible believing Christians before and after Martin Luther called for reformation back to the...
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...Leadership Determine How Five Guys’ Philosophy Sets it Apart From Other Fast-food Chains Five Guys follows the philosophy of focusing on a few items, and serving them fresh to order. Five Guys is not your typical fast food chain for a number of reasons, one being that they limit their menu. Five Guys serves burgers made to order, which are fresh and never frozen (Boone & Krutz, 2012). Customers can customize their burger with a choice of 17 free toppings such as ketchup, mustard, and jalapeno peppers. The buns are toasted on a grill for better taste, rather than in a bun toaster. The potatoes for the fries are grown in northern Idaho, and are cooked in peanut oil (Boone & Krutz, 2012). Although they may not have a drive-thru, Five Guys offers a sit down restaurant in a warm, clean environment. Analyze the Original Values for the Start-up Company and How it Remains Strong Today Values of a company play a very important part in establishing a business in today's competitive market. The first Five Guys Burgers and Fries opened in Arlington, Virginia in 1986 by the Murrell family (Five Guys’, 2011). The family opened a carry out burger joint in Arlington, Va., that served hand formed burgers and fresh cut fries cooked in pure peanut oil. The Murrell family wanted to provide good food and to keep it simple. The founder of Five Guys believe if you "Treat that person right, he’ll walk out the door and sell for you,"(Five Guys 2011). Since then, Five Guys has received a number...
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...The Economics of Five Guys Determine how Five Guys’ philosophy sets it apart from other fast-food chains. “Do good in school or you will end up flipping burgers your whole life!” How many times have kids heard their parents talk like that? Well that has worked out very well for Jerry Murrell and his sons. Jerry Murrell is the founder and owner of the first Five Guys Burgers and Fries. Their business plan includes making the very best burger around, matching that with perfect fries and not cutting any corners in the process. They started in 1986 and in 2002 when they began selling franchises they only had 5 burgers joints. Today there are over 570 of them and annual sales reach the $483 million mark. The Murrells spend their time overseeing the opening of around four new stores each week. And just think your parents said flipping burgers was a dead end job. When Jerry Murrell began franchising he was just a small burger operation with an almost cultish following in Northern Virginia. Today, the business is, by some, estimated heading in the direction of the $1 billion in value mark. Five Guys only has 87 locations. That is 87 cities or areas where their stores are located. Most of these are in the Washington region, but a hundred more are located along the East Coast this year. There are thousand more being phased into the business plan. Each store, the company says, will make around $1 million per year. Jerry and Janie Murrell and their sons are often asked...
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...the first Five Guys location opened their doors in Arlington, VA, when Jerry and Janie Murrell advised their two older, of four sons to "Start a business or go to college.” The business route won and the Murrell family opened a carry-out hamburger business. In 1987 after the birth of Mr. Murrell’s fifth son, the name "Five Guys" evolved. As their family grew, so did their business. Under the guidance of Jerry, founder and CEO and Janie, the Murrell family served only hand-formed burgers cooked to perfection on a grill along with fresh-cut fries cooked in pure peanut oil. Five Guys was the place to get a fresh, juicy burger with all the toppings you could stuff between fresh-baked buns. What started as a modest burger shack in a Virginia strip mall has exploded into America’s fastest-growing restaurant chain, with five stores opening each week. Five Guys serves up made-to-order burgers with beef that’s never frozen and absurdly large servings of hand-cut fries. The fresh, generous meals allow them to charge more than fast food chains such as McDonald’s and Burger King (Weise, 2011) The Five Guys mission statement is aligned with the philosophy that if you're going to sell hamburgers and french fries in a restaurant industry that is crowded with hamburger-french-fries chains, you'd better do hamburgers and french fries better than anyone else. Simply stated, the mission statement of Five Guys Burgers and Fries is: "We are in the business of selling burgers." "Five Guys goal...
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...Luther, the Protestant Church, with its estimated 800 million members, would not exist. Martin Luther was born on November 10th, 1483, in Eisleben, in the Holy Roman Empire. He was born to Hans and Margarethe Luther. He was a German, who became a priest, hymn-writer, and founder of the Lutheran Church. Hans Luther wanted Martin to have a successful life and be a lawyer, so he enrolled him in schools in Mansfield, Magdeburg, and Eisenach. Martin also enrolled at...
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...Determine how Five Guys’ philosophy sets it apart from other fast-food chains. Sell a really good, juicy burger on a fresh bun. Make perfect French fries. Don't cut corners. That's been the business plan since Jerry Murrell and his sons opened their first burger joint in 1986. When they began selling franchises in 2002, the family had just five stores in northern Virginia. Today, there are 570 stores across the U.S. and Canada, with 2009 sales of $483 million. Overseeing the opening of about four new restaurants a week, the Murrells are proof that flipping burgers doesn't have to be a dead-end job. Four years ago, before franchising, Five Guys was just a little family burger operation with five locations and a steady, if cultish following, in Northern Virginia. Today the business is by some estimates heading toward $1 billion in value. Five Guys has 87 locations. Most are in the Washington region, but a hundred more will open along the East Coast this year, and another thousand are being phased in. Each store, the company says, pulls in about $1 million a year. How Janie and Jerry Murrell and their five sons, the Five Guys, so quickly bit into the nation's $58 billion-a-year burger business is a little bit of a burger whodunit. The Murrells can be gregarious, but they are given to moments of silence when asked how their business grew so big. Their success probably includes a combination of ingredients, though: keeping the business strategy simple (sell burgers and fries) while...
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...Assignment 1: Five Guys Entrepreneurial Leadership “Five Guys Burgers and Fries: Ingredients for Success” Five Guys Burgers and Fries has become a major contender for the forefront of the fast food market. The Company was founded by the Murell brothers in 1986 in Washington D.C. They created a fast food chain that quickly grew to become one of the largest revenue producing chains and franchises in the country. Five Guys was created with a very simple plan that has helped to set it apart in the fast food business. The founders adopted a philosophy that at the time was a leader on the fast food market. They created the business on the philosophy of “Sell a really good, juicy burger on a fresh bun. Make perfect French fries. Don’t cut corners” (Boone, 2012) This philosophy was extremely simple and helped to guide the future of the business. Five Guys puts extreme emphasis on providing the highest quality of food possible for the customer. The company uses grass fed 80% lean beef for their burgers. They also never freeze the meat. Everything that is prepared at the restaurant is fresh. The company spends extra money on quality ingredients such as Idaho Potatoes, and even takes the extra effort to prepare them in a way as to minimize the amount of oil the fries absorb when being made. Five guys have also followed the mentality that the customer will be the company’s best salesperson. The typical fast food chain spends 3% of revenue on advertising. Five Guys does not...
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...Five Guys: Recipe for Success 1 Five Guys Burgers and Fries: Recipe For Success Bonds Contemporary Business- BUS 508 January 25, 2013 Five Guys: Recipe for Success 2 Five Guys Burgers and Fries: Recipe For Success Introduction Five Guys and a Burger was created in 1986 when founder Jerry Murrell realized his two oldest sons did not want to go to college. He was okay with their decision and decided to use their tuition money that had been saved to open the first Five Guys and a Burger, a quality hamburger take out restaurant located in Arlington, Virginia. This paper will discuss the company’s philosophy; start up values, factors for success and the culture of the food. Five Guys Philosophy Five Guys’ philosophy sets them apart from any other food chain. They believe that if you sell quality food and maintain superior customer service that the product will sell itself. “Keep it simple, focus on “food,” not “fast,” and use honest-to-goodness fresh ingredients of the highest quality you can buy.” (Smith, para.3) When a restaurant keeps it simple, inventory and training is much easier within the restaurant and employees usually do a better job due to their tasks being much more manageable. When owning a small business quality versus quantity is important because it...
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...Entrepreneurial Leadership BUS508 25 July 2013 Determine how Five Guys’ philosophy sets it apart from other fast-food chains. “Do you want to flip burgers your whole life!” How many times has a parent said this? Even though this is usually said out of sarcasm this line of work has been very good for the Murrells. The founder and owner of Five Guys Burgers and Fries Jerry Murrell started with a business plan of keeping their business limited and simple and sticking by his philosophy of providing a quality product at a reasonable price in a clean environment. Five guys spends the most out of its competers to product a quality product. When Jerry Murrell began franchising he was just a small burger operation with an almost cultish following in Northern Virginia. Today, the business is, by some, estimated heading in the direction of the $1 billion in value mark. Analyze the original values of the start-up company and how it remains strong today. During the early years the Murrells’ worked long and hard to prefect their product. And to this day Five Guys serves up made-to-order burgers with beef that’s never frozen and absurdly large servings of hand-cut fries. Murrell stated that each topping was a family decision and something that was taken very serious. Having accomplished creating a successful product the Murrells now focus on maintaining this quality by paying attention to detail. One way that the Murrells ensure that the product quality is maintained is by writing...
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