Building Block: Business Operations
This building block should take you 3-4 blocks to complete
Goal of task: To demonstrate a sound and efficient plan for how your business will operate, from day-to-day tasks, to long term scheduling and production.
This part of your Business Plan should look ahead to Benchmarks 3 (Media Ad) and 4 (T-Shirt Design & Production). Break down the operations of your business into four sections: Who, What, When, and How. For each section you should create an appropriate heading. Under the heading provide the information needed to understand how that aspect of your business will run. Some sections may be a simple paragraph or series of bullets; others may be more developed. Use enough detail in your language to convince potential lenders that you have effectively planned all aspects of your business. Use a professional and authoritative tone in your writing. Remember, this document is critical to getting your loan approved and funded.
What: List and describe the materials, tools, equipment, and space that you consider to be essential to running your business. Will they be purchased or rented? Why? Justify. (Use the “WMMTTW Cost Table” for this step.)
Who: Name each person that will play a role in your business; describe their particular roles and responsibilities. Who will take on what aspect of the business? Who will take on which task? What norms has the team created? Be thorough.
When: Create a timetable that illustrates how your team will fulfill your business goal by the loan payback date. Be sure to include each needed detail. (Loan applications are due 4/7; loans will fund on 4/11; four week loan payback date is 5/9; six week loan payback date is 5/23). Check the calendar on the IT site for details.
How: Describe the actual workings of each process that needs to occur for your business to succeed. (Review to the benchmark/building block framework on the IT site to anticipate what actions will need to take place throughout the project.) Include important logistical details such as how you’ll manage the creation of your media ad and storyboard, how you’ll approach such work as T-shirt design, and so forth. Finally, include a brief description of your plan for product distribution.
Start by watching this video on silk screening T-shirts. It should help you wrap your mind around some of the tasks involved:
- Each section signed off by one IT Teacher
- Complete document signed off by three IT Teachers and added to Business Plan doc
- Complete document signed off by three IT Teachers and added to Business Plan doc