A business plan is a detailed plan for a proposed program or service, including information to be used to assess the financial feasibility of the initiative. A good business plan guides you through each stage of starting and managing your business. You’ll use your business plan as a roadmap for how to structure, run, and grow your new business. It’s a way to think through the key elements of your business. Business plans can also help you get funding or bring on new business partners.
The US Small Business Administration (SBA) (https://www.sba.gov/ Links to an external site.) provides support resources and information for building an initial business plan. The first step in planning a new program is to understand the organization’s mission, vision and goals and how the proposed plan aligns to those elements.
The purpose of this assignment is to provide advanced practice nursing students an opportunity to take the first step in conceptualizing a realistic Business Plan for a healthcare entity. Examples include opening or expanding services at a healthcare clinic or creating a new service line. Create a brief summary of each of the components of a Business Plan as outlined below and post on an initial Discussion Board post. The post should be no more than 1-1.5 pages of single-spaced text. Use descriptive headings for each section (do not number). The assignment is worth 10 points, which constitutes 10% of the grade for this course.
Format:
1. Introduction to the hypothetical healthcare business envisioned (a service; not products)
2. List of services provided
3. Evidence of need (consider exploring the SBA website for supportive evidence)
4. Projections for practice income and expenses (estimate)
5. Principle individuals starting the business
6. Organizational plan
7. Plan for managing day-to-day operations
8. Investment needs
9. Potential problems and critical risks
10. Summary
Some questions to consider as you begin:
1. What do you plan to offer?
2. How will you market the services?
3. Who will purchase the services?
4. Where will the business be located?
5. How big will the practice be?
6. How will the practice activities, policies and procedures be organized?
7. How will expenses be covered?
8. What are the potential problems with the business?
Initial and Response DB Posts:
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