muzeumuzaby-cz

© John Hall & Associates

John "Zack" Kline was the winner of the Salisbury University 2011 Bernstein Achievement Award. The senior took home a prize of $5000 in potential seed money to fund the business plan he presented for the competition, which was for an Atmosphere Improvement and Renewal (AIR) Lawn Care kit, which Kline wants to provide as an environmentally-friendly and sustainable residential landscaping option.

A total of four students won cash awards in the competition this year, including senior John Stockel, who was selected for his RiteTrak university bike rental service idea. It was based on bike-sharing programs he witnessed while studying abroad in Paris and London, and he created the company with his fiance Emilie Godard who graduated with an MBA from SU in 2009. Christopher Maxa, who is pursuing his master's degree in geographical information systems management, also won for creating Maxa GIS Consulting, to assist small and medium-sized organizations in using geographic information systems technology.

© Yodel Anecdotal

New industries like solar tend to go through an initial period of rapid change and evolution. The business plan for solar cell manufacturers has changed dramatically over the last ten years, with a joint venture business model gaining popularity.

For example, SunPower recently formed a joint venture with AU Optronics to build the 1.4 GW solar cell fabrication plant called Fab 3, while Sharp has formed a $128 million joint venture with Enel Green Power and STMicroelectronics to produce 160 MW of thin-film solar cells. Joint ventures allow solar manufacturers to build their capacity more quickly without raising capital. Similar ventures are also taking place downstream, with investors like NRG partnering up with manufacturers like SunPower to build solar plants. NRG contributed $450 million of equity capital towards work on the SunPower California Valley Solar Ranch project.

© Bright Meadow

Writing business plans effectively is a key skill for small business owners to master. Following a few guidelines can help to simplify the process, but the first thing to keep in mind is that a business plan should be viewed as a living document that addresses all of the critical aspects of your business operations.

It should be flexible enough to change as your business evolves, but every business plan begins with a few key essentials. These essential elements include an executive summary, which is the first part of a business plan and perhaps the most important section because it provides an overview of the entire plan and a history of your company. The market analysis section follows this executive summary and it should show your understanding of your industry.