Points: 20 pts
Summary: Write an essay as a draft for the financial management section of your business plan.
Part of the Business plan
Financial management is the topic. Stick to the topic for this essay.
It's preferable to use Microsoft Word 2016 for your writings in this class. You can compose in another program, then copy the text into Microsoft Word (Use paste special-plain text in Word). Most campuses have Microsoft Word available in computer labs and libraries.
- Normal style should have the following styling set (Just like we did in the exercise at the beginning of the semester)
- Font: Times New Roman or Times, 12 pt
- Double spacing
- First line indent
- Your essay should have at least one heading. Any headings should be appropriately heading styles added. The headings can be thought of as an outline for your document. Use heading 1 style for your main heading on your essay. Subheadings of the heading 1 should use the heading 2 style, subheadings of heading 2 should use the heading 3 style & so on. Only use the next level if it is a subheading of another heading. It's possible that your document may only have one heading at level 1 with numerous headings at level 2.
- Correct any spelling or grammar errors as indicated by the program (Note: The computer doesn't get everything right, you can ignore indicated errors that you know are not really errors, and please be sure to proof read and catch errors that the computer doesn't catch.)
- Information from external resources should be appropriately cited using APA 6th edition using Word citation tool.
- Since these essay will be combined into a larger paper, a bibliography does not need to be added to the essay, but will need to be added to the final Business Plan. Citations are required for any information that you have obtained through outside resources for all essays.
Gather your bullet points from the lessons and activities for this unit. Organize the points in a cohesive manner. They should be organized in such a manner to help you write up information concerning the following recommended aspects of your business (Customize as needed for your business):
- Current state of finances
- Historical fiances, if company is already in business.
- Projected finances through next five years (Create a spreadsheet that displays income & expenses projected over 5 years, then copy the spreadsheet data into the essay. - You may need to adjust the columns to be readable)
- First year might include quarterly or even monthly projections
- Funding (if funding is needed now or might be in the future.)
- What funding are you currently requesting?
- What funding may be needed over the next five years?
- Any strategic plans which may need financing? (This might need to be to the final business plan since strategic planning is in a future lesson)
- What will the funding be used for?
- What is the repayment strategy?
- How long with the funding be needed?
- What types of funding?
- What are the terms of the funding?
- Any other financial topics which you think are appropriate
You may need to research additional information and add that information to your bullet points.
Write the essay
Using the bullet points as a guide to write your essay. The essay should be 2-5 pages long (minimum of 500 words). If you are writing fewer pages now, you may need to write more pages in future essays or add in information to this essay for your final business plan assignment which should be 16-20 pages (4000 words). Keep in mind your audience is people in other businesses and you are writing from the perspective of an entrepreneur.
- Use clear and concise language and write in a business-like manner.
- Grammar and spelling are correct.
- Provide enough information without overburdening with details
- Information is comprehensible and written logically.
- Answer – who, what, when, where, why & how
- Be logical, and not emotional, in presentation of your facts, but do display some passion for your business.
- Focus on strengths, but don’t ignore weaknesses
- Document everything
- Minimum page length met. Percentage missing will be deducted from score. For instance, if essay is one and three quarter pages in length and two pages are minimum, then 12.5% of the points will de deducted from the score.
- All the required points are included in the essay. Percentage missing will be deducted from score. For instance, if only 3 of the 4 points are covered, then 25% of the points will de deducted from the score.
- All grammar and spelling errors as indicated by Word are corrected and document has been proof read to catch other grammar and spelling errors. One quarter of a point will be deducted for each, up to 5 points.
- Essay is written in a logical, clear and concise manner. Up to 5 points will be deducted.
The combined points lost for above items 1 & 2 will not be more than 50%
Submitting the Essay
Your essay should be uploaded to Laulima in Assignments, Tasks & Surveys by the due date at the end of the unit covered in this essay.