This week you are responsible for completing your written assignment, which includes the Services section and the Financials section of a Business Plan. For a complete description of the requirements of this written assignment, please refer to the last few pages of the course syllabus.
Your work will be graded based on the points assigned in the written assignment grading rubric, which is also available in your course syllabus. Be sure to review the rubric prior to starting your work!
As you work on your assignment, you may find this article from the U.S. Small Business Administration to be helpful:
Requirements This is your opportunity to think like an entrepreneur! Think of an idea that you have for a new health care organization or service. Write a 1-page Service Description (excluding the header) and a 1-page Operating Budget (excluding assumptions) for your organization or service. Your assignment should not exceed these page limits – Expressing yourself clearly and concisely is an important skill to develop.
To guide the development of your Services Description, you should refer to Exhibit 25-2: Basic Information for the Service or Equipment Description. To guide the development of your Operating Budget, you should refer to Exhibit 25-6: Basic Assumptions for Business Plan Income Statement Projections.
You can also refer to the Operating Budget. Static Budget Example for an Open Imaging Center (p. 185). While typical business plans include an Income Statement, this assignment only requires that your financial section include a one-year Operating Budget (Revenue, Expenses, Operating Income). In order to develop your Operating Budget, you will need to make some assumptions about revenue and expenses items.
In order to make these assumptions, you will need to complete some basic internet-based research. Be sure to clearly identify every assumption that you make and provide the source of the information that supports the assumption. For instance, if you need to identify the average salary for a variety of positions, you might seek out this information on the Department of Labor website. Once you found the information, you would develop a table of average salaries and provide a citation for the Department of Labor website. This table would be placed below the actual Operating Budget and the reference would appear as a footnote to the table as well as on the reference page for your entire Written Assignment. I encourage you to keep your financial statement simple! It is better to be simple and correct, then complicated and wrong
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