deca start up business plan guidelines

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Chapter Name

Start-Up Business Plan

The purpose of the Start-Up Business Plan Event is to provide an opportunity for the participant to develop and present a proposal to form a business. The event provides an opportunity for a participant to develop and demonstrate mastery of essential knowledge and skills as they apply to the analysis of a business opportunity.

Career Opportunities

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Sample Exams

Exam blueprint.

The chart below shows the number of items per instructional area for the 2023-2024 exams used at the district level, chartered association level and the International Career Development Conference.

EXAM STRATEGIES

The exam blueprint is your best friend.

Use the exam blueprint to focus your preparation efforts. You may prioritize studying instructional areas with the higher number of questions listed the blueprint.

Keep Expanding Your Knowledge

As you advance in competition, exam items become more specialized to the Career Cluster. Therefore, you should start with an understanding of general business concepts in the Business Administration Core and build on the knowledge within the Career Cluster of your competitive event.

Review Your Work

Don’t just take the exam! After you take the exam, compare your answers to the exam’s key. If you incorrectly answer a question, re-read the question, note the correct answer, and then read the descriptive key. The descriptive key explains the correct answer and why the other answers are incorrect. This will also help you understand the performance indicator addressed in the exam question.

Focus Your Efforts Where They Need To Be

Each exam question is linked to an instructional area. For each incorrect answer, tally the instructional area it matches. If you are noticing a pattern of incorrectly answering questions within particular instructional areas, spend more time learning the knowledge and skills within those instructional areas. Spend more time reviewing the performance indicators under those instructional areas.

Form Study Groups

Because there are only seven DECA exams, chances are high that some of your fellow chapters are taking the same exam as you, even if they are in a different competitive event. Use this opportunity to form study groups. You could consider taking the exam together and discussing the questions and answers. You could even divide and conquer to prepare study materials to help understand performance indicators.

Get In The Mode

Recreate the testing scene. Find out from your chapter advisor the setting for your exam during competition. Will you be taking the exam online through an electronic device prior to the competition, or  using pencil and paper on-site during the competition? Find out how long you will have to take the test. Then try to replicate the setting using a practice test and using the same time frame you are given in competition.

Develop a Study Schedule

Make sure to study and prepare on a regular basis. Plan a study schedule and calendar leading up to your competition. Do not study right before you take the test. Instead, concentrate on being calm and confident in yourself when taking the exam.

Test Taking Techniques

When taking the exam, use these general test taking techniques:

• Familiarize yourself with the format.
• Read the question. Think about the answer.
• Read all choices before choosing your answer.
• Eliminate choices you know aren't correct.
• If you get stuck, circle and come back.
• Always take an educated guess.
• If time allows, review your work. ‍

Remain Positive!

Be confident. Refrain from engaging in negative discussions with other members prior to the exam, such as “I’m so nervous – I don’t know if I studied enough.”

Sample Role-Plays

Instructional areas.

Each role-play focuses on a primary instructional area. For each role-play, a majority of its performance indicators will focus on that primary instructional area. The following instructional areas may be used in this event's role-plays.

ROLE-PLAY STRATEGIES

Key elements.

The following key elements are always a part of each role-play scenario. Understanding the format and style of the role-play will help you become familiar, feel comfortable and easily identify the key elements so you can maximize your time developing your solution.

• Participant Role
• Company and Brief Description
• Deliverable
• Instructional Area

Performance Indicators

• Meeting Location

The performance indicators are your guide to a focused presentation! Apply them to the situation because they are always based on a real-life situation. Use industry knowledge that you have researched before competition to supplement what you know about your performance indicators. This helps demonstrate your proficiency.

What's the Ask?

At the end of any role-play situation, you are presented with what the judge is looking for from you. Make sure you address what the judge is asking while incorporating the performance indicators. You will want to wow your judge with your solution while explaining it by incorporating the performance indicators.

Communication is Key

Speak clearly so that the judge can understand what you are sharing with him/her. You have time to talk about your performance indicators within the situation—don’t rush and take the chance a judge didn’t hear you talking about something. Be natural and comfortable in your role in the situation. Nonverbal communication can be just as important as verbal communication. Smile and be confident to help demonstrate your professionalism.

Be Creative and Stand Out

Be calm, be professional and be enthusiastic. Don’t be scared of your competition. There are many creative ways to approach a role-play, and no one way is necessarily right, so focus on adding your own creative twist to what you do. Don’t just have a “Plan A”; exceed expectations by having options for your judge to select from if the situation calls for it. Setting yourself apart through innovation, creativity and quality ideas is the key way to stay in a judge’s mind long after all the competitors have finished presenting. What can you bring to the presentation that no other competitor will show your judge?

Connect with the Judge

Take time to make sure your judge is following your thoughts. You can ask your judge questions to make sure he or she has understood what you have shared. Near the end of the role-play, the judge will likely ask you questions. When you are preparing your presentation for the role-play, you may anticipate what questions the judge may ask. However, if you need a minute to consider the questions before answering, say so in a professional manner. This reflects your respect of his or her position and your desire to share an informed answer.

Speak the Language

When speaking with the judge, be as professional as possible, while still being personable and accessible. This means using accurate industry terminology when the situation calls for it. Do not be afraid to use sophisticated or rich vocabulary—with­out sounding like you’re just trying too hard to impress, because, of course, you still want to be relatable, friendly, and down-to-earth.

Make a Good Impression

Be friendly, make eye contact and give a firm handshake when you first meet your judge. Do not wait for them to introduce themselves; rather, take the initiative. While you might be nervous and feel awkward, taking initiative shows that you truly are mature, confident and comfort­able. Also, adhere to the dress code, because you come across as much more professional if you really do look like a business executive. You may also consider the career area in which you are competing. For example, as a competitor in Apparel and Accessories Marketing, you may want to wear something that will reflect an interest in fashion or a more creative point-of-view, without being outrageous. You want to leave a good impression with the judge, and of course, be rememberable.

WRITE IT LIKE  YOU MEAN IT

Participants in the Start-Up Business Plan will prepare a business plan proposal describing a business the participants want to develop. The body of the written entry must be limited to 10 numbered pages, including the appendix (if an appendix is attached), but excluding the title page and the table of contents.

WRITTEN ENTRY GUIDELINES

The written entry must follow the specifications provided in the Written Entry Guidelines section of the DECA Guide for the competitive event. In addition to the Written Entry Guidelines, participants must observe all of the standards on the Penalty Point Checklist. These standards are designed to make competition as fair as possible. Additionally, the Written Event Statement of Assurances and Academic Integrity Form must be signed and submitted with the entry.

Sample Written ENTRY

Written entry strategies, content is king.

The written entry is the foundation of your competitive event. It's your outline for your project or plan, and represents your process to achieving your outcome. Choosing the right written event and the right company, event, idea, product or topic is so important, because you want to be passionate about the work you will endeavor in this process. Be thoughtful when making your decisions using some of these key considerations:

• Is there enough data accessible?
• Can I get information I need from the company or about the product, event or idea?
• Are there real people I can engage with or enlist the help and expertise of?
• Is this cutting edge or has the potential to be?

First, But Last

The executive summary is one of the most important parts of your written entry. Not only is it likely to be one of the first parts of your entry the judge reviews, it also provides an overall summary of your entry. It should be dynamic, concise and effectively highlight the main points of your written entry all while including a call to action. Often, it is best to write the executive summary last so that you can identify the most relevant components to include. Some tips for an effective executive summary include:

• Start with a bang.
• Identify the problem solution and opportunity.
• Focus on what makes you stand out.
• Sell don't just tell.
• Include data and finances.
• Use graphics and formatting as appropriate.
• Imagine this is the only thing someone would read.

Review, Edit, Proofread

Once you have completed your written entry, review it against the written entry guidelines and written entry evaluation form to ensure you have addressed each item. If you believe items are missing or need improvement, revisit your written entry and improve those areas. You may also wish to ask consultants to read your written entry against the criteria and provide feedback. Often, that is the best way to determine if your written entry is clearly understood by someone other than you as the project creator(s). In addition, you should edit and revise your written work so that it is well-organized, professional, logical and error free.

Avoid Penalty Points

Penalty points can cause you to lose your chance for advancement quickly! Many times, they can easily be avoided. Some of the most common reasons for penalty points include:

• Not using the current year’s event guidelines.
• All participants or advisor not signing the Statement of Assurances.
• Leaving out sections in the body of the written entry.
• Having too many pages. Double check the number of pages allowed in your written entry.

Give your entry to a trusted advisor or peer to review against the Penalty Point Checklist.

PRESENT WITH PIZZAZZ

The participants will present the project to the judge in a 15-minute presentation. The judge is role-playing a potential source of capital for the business. The presentation begins immediately after the introduction of the participants to the judge by the adult assistant. Each participant must take part in the presentation.

PRESENTATION GUIDELINES

Each participant may bring a copy of the written entry or note cards pertaining to the written entry to use as reference during the presentation. Only visual aids that can be easily hand carried to the presentation by the actual participant(s)will be permitted. The participants themselves must set up the visuals. Wheeled carts, moving straps or similar items may not be used to bring visuals into the area. Set up time is included in the total presentation time. Participants must furnish their own materials and equipment. No electrical power or internet connection will be supplied. Alternate power sources such as small generators are not allowed. Sound may be used, as long as the volume is kept at a conversational level. Materials appropriate to the situation may be handed to or left with judges in all competitive events. Items of monetary value may be handed to but may not be left with judges. Items such as flyers, brochures, pamphlets and business cards may be handed to or left with the judge. No food or drinks allowed. If any of these rules are violated, the adult assistant must be notified by the judge.  

Presentation Strategies

First things first.

Consider your presentation your time to highlight the most important parts of your competitive event. In every case, you're trying to sell the judge that your idea, concept or plan is the best. Start with that in mind, and develop an outline for your presentation. Your ultimate goal is for the judge to choose your presentation. Consult the presentation evaluation rubric in the DECA Guide to ensure that your presentation includes information for all of the scoring criteria. You may also consider visual aids and if you'll use technology — but make sure they are relevant and meaningful to your presentation.

Brand Yourself A Winner

When creating your project and delivering your presentation, you are essentially developing a brand for yourself and your ideas. Make your presentation’s brand attractive and easy for your judge to remember by wrapping it in a strong visual package. Tie together all the elements of your project, from the charts and graphs of your written document, to your slide backgrounds, to the shirt you wear with a signature element, such as a particular color palette or pattern.

Stop, Look, Listen

A great portion of your presentation’s success isn’t dependent on what you say, but how you say it. Like any good speech, the judge may not recall every statistic, market segment or promotional idea that you deliver, but they will remember how you made them feel. That’s where confidence in your delivery comes in. Being excited, nervous and anxious about your presentation can cause your rate of speech to increase rapidly, making your words fly by in a blur. Always remember the power of pause. When practicing your presentation, incorporate pauses into your phrases. This will create a dramatic, ear-catching effect to keep your judge attentive to your presentation, plus it will emphasize important points and information. 

Eye contact is another way to connect with your judge. Locking eyes shows confidence in the points you’re delivering and is another way to keep your judge engaged in your delivery.

A memorable part of your delivery that will greatly affect how your judge feels is your tone of voice. Your tone should vary depending on the subjects you’re covering in your presentation. For example, presenting a charity that your Community Giving Project supports may be most effective with a serious, earnest tone, yet in sharing your creative marketing  ideas for an Integrated Marketing Campaign event, an excitable, vibrant tone would be great for expressing your creativity. No matter what tone you use, make sure you vary your expression. Nothing will lose a judge’s attention more than a flat, boring delivery that gives them no feeling about your topic. 

While relying on your innate ability to “wing it” is never recommended for competition, writing down paragraphs of perfect phrases, word-for-word, doesn’t guarantee that your presentation will turn out trophies either. Note cards are a handy tool to remember specific numerical data and exact quotes, but using them as a crutch for your memory could reduce your confident delivery, especially in form of eye contact with your judges. Instead, commit your presentation to memory as best as possible. If you thought it, developed it and wrote about it, you should be able, with a bit of practice, to present it well. Use your visual aid to help guide your talking points, with illustrations, diagrams or other images to help cue your words. 

Just because you reach your last slide doesn’t mean it’s time to thank your judge, shake hands and flee the room. The time after your formal presentation is crucial for further interaction with your judge. Take this opportunity to clarify parts of your presentation, show more of your personality and impress your judge with an ability to provide thorough answers to any questions they may have. The best way to flawlessly answer these questions is to prepare for them in advance. Use your advisors and peers as practice judges for your presentation, and request that they each ask you at least three follow-up questions to your presentation. You begin to become more confident delivering answers off-the-cuff and will begin to learn the most commonly asked questions of your presentation. Should your judge not immediately ask any questions, ask for them! 

To leave even more of an impact on your judge, provide them with a handout before you walk out the door, such as a brochure or outline. Use this strategy to highlight important takeaway points from your presentation, further brand yourself and your ideas, and keep a presence in front of your judge, even long after your final handshake. Make sure to have a final statement or call to action to show your judge that you’re interested in following through.

INSIGHTS INTO THE INDUSTRY

Industry trends are patterns or current happenings that occur within a specific industry. Keeping up with the industry helps give you a pulse on issues and trends that are affecting the industry. This knowledge can help you develop creative, relevant and timely solutions for your competitive event.

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Not only do these interactive competition preparation tools help you expand your industry terminology, understand performance indicators and check your comprehension through exam items, they also help you prepare for DECA competition!

Expand your vocabulary

Broaden your knowledge

Check your comprehension

DECA Direct Online is your source for competition tips and career insights. Check out these articles and more on DECA Direct Online as you prepare for competition.

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DECA+ ACCEPTABLE USE POLICY ‍ A DECA+ subscription is required for each DECA chapter wishing to access the resources within the DECA+ site. The login is to be used only by the chapter and its members, and the login cannot be shared beyond the chapter. Under no circumstances may any of the content, including but not limited to exams, scenarios or sample written entries, in whole or in part, or any item within be published or posted on any website. Under no circumstances may any of the content, including but not limited to exams, scenarios or sample written entries, in whole or in part, or any item within be shared or distributed beyond the specific DECA chapter that has purchased the subscription.  Any chapter(s) which violates the DECA+ distribution and use policy will not be allowed to participate in the current school year’s chartered association conference or the International Career Development Conference. If any exams or scenarios are posted on a chapter or chartered association website in way outside of the distribution and use policy, the chartered association will not be eligible to purchase exams or receive scenarios from DECA Inc. for a period of one year for the first offense. Furthermore, further access to DECA+ by the chapter(s) in violation will be prohibited effective immediately for a period of no less than three years.

5 Steps to Start a School-based Enterprise

School-based enterprises (SBEs) are effective educational tools to prepare students for college and career readiness. For many students, their work in an SBE is their first work experience; for others, it is an opportunity to build management, supervision and leadership skills. An SBE can be an essential part of the curriculum since the enterprise's primary function is to be an educational lab where marketing, finance, hospitality, business management, and entrepreneurial curriculums are put into practice.

Are you ready to get started? Follow these five steps to bring an SBE to your school.

1. CONDUCT MARKET RESEARCH

Market research blends consumer behavior and economic trends to confirm and improve your business idea. It is crucial to understand your consumer base from the outset. Market research lets you reduce risks even while your business is still just a gleam in your eye. Gather demographic information to better understand opportunities and limitations for gaining customers. This could include population data on age, wealth, family, interests, or anything else that is relevant for your business.

Then answer these questions to get a good sense of your market.

• Demand – Is there a desire for your product or service?
• Market Size – How many people would be interested in your offering?
• Economic Indicators – What is the income range and employment rate?
• Location – Where do your customers live and where can your business reach?
• Market Saturation – How many similar options are already available to consumers?
• Pricing – What do potential customers pay for these alternatives?

You will also want to keep up with the latest small business trends. It is important to gain a sense of the specific market share that will impact your profits. You can do market research using existing sources or research yourself and go direct to consumers (students at your school).

Existing sources can save you a lot of time and energy, but the information might not be as specific to your audience as you would like. Use it to answer general and quantifiable questions, like industry trends, demographics, and household incomes. Check online or start with our list of market research resources.

Asking consumers yourself can give you a nuanced understanding of your specific target audience. But, direct research can be time-consuming and expensive. Use it to answer questions about your particular business or customers, like reactions to your logo, improvements you could make to the buying experience, and where customers might go instead of your business.

Here are a few methods you can use to do direct research:

• Questionnaires
• Focus groups
• In-depth interviews

2. CREATE A BUSINESS PLAN

An effective business plan will give you a "sneak preview" of your venture's potential success. A realistic business plan will give you and your students great insight into your school-based enterprise's future success.

A business plan is a written document that clearly defines a business's goals and outlines the methods for achieving them. The business plan describes what a business does, how it will be done, who has to do it, where it will be done, why it is being done and when it has to be done. Most importantly, the business plan will tell you if your ideas make sound fiscal sense.

Below is an outline for a start-up business plan.

• Executive Summary – One-page summary of the business model
• Problem – List the top three problems your product/service is addressing
• Customer Segments – Who are the target customers?
• Unique Value Proposition – What is the single, clear, compelling message stating why your product/service is different and worth buying?
• Solutions – What are the top three features of your product/service? ‍
• Channels – What are the pathways to customers? ‍
• Revenue Streams – What is the revenue model and what are the lifetime values? What is the revenue and the gross margin?
• Cost Structure – What are the customer acquisition costs, distribution costs, human resources costs and other additional costs?
• Key Metrics – What are the key activities that must be measured?
• Competitive Advantage – What about your product/service means that it cannot be easily copied or bought?
• Conclusion – Specific request for financing, summary of key points supporting the financial request
• Bibliography
• Appendix – An appendix is optional. Include exhibits appropriate for the written entry, but not important enough to include in the body. These might consist of sample questionnaires used, letters sent and received, general background data, or minutes of meetings.

Creating a business plan offers numerous and unlimited ventures for use in your classroom. Connect to DECA's guiding principle of applying learning to provide meaningful and realistic educational opportunities. Related activities are virtually endless for the creative teacher as each topic in the business plan offers numerous assignments and will give a chance to apply learning for your students.

3. GET SCHOOL SUPPORT

Your business plan will help you figure out how much money you will need to start your business. If you do not have that amount on hand, you'll need to either raise or borrow the capital. Use the steps below to request support and funds from your school administration.

• Identify the purpose and goals of the school-based enterprise.
• Share your business plan.
• Identify the ideal SBE location.
• Share a breakdown of your start-up costs, including equipment, product and any refurbishing the identified location may need.
• Identify your accounting system and bookkeeping procedures.
• Discuss how revenues will be used.
• Address store security concerns and precautions.
• Identify the organizational structure and employee responsibilities.
• Share employee training plans.
• Share your proposed timeline for opening the SBE.

4. Apply for Licenses

Business activities that are commonly regulated locally include restaurants, retail and vending machines. Some licenses and permits expire after a set period of time. Keep track of when you need to renew them — it is often easier to renew than apply for a new one.

You will have to research your state, county, and city regulations. Industry requirements often vary by state. Visit your state's website to find out which permits and licenses you need. You will need to work closely with your administration to determine policies, procedures and guidelines for your district/school, especially for SBES focusing on food operations.

5. CONNECT TO AN ADVISORY COMMITTEE

An advisory committee should provide the school-based enterprise will realistic suggestions as to the store policies, procedures, equipment, and facility needs and usage. Their input on how to provide the best possible learning experience for students would be provided through their expertise and knowledge. The advisory committee for your SBE could also connect to an established school advisory committee for your program.

Congratulations, now you are ready to open your doors!

For more detailed information, this comprehensive guide for managing an SBE covers all facets of starting and managing a school-based enterprise. Whether you are already operating an SBE, or are considering implementing one in your school, this guide covers all the key topics vital to the success of an SBE, such as writing the business plan, holding job interviews, establishing operating policies and procedures, etc. Utilizing this guide will help build a solid framework for opening an SBE learning lab or will help existing SBEs refine their procedures to ensure the continued success of the SBE not only as a business but also a relevant extension of classroom instruction.

Debbie Taylor is DECA's leadership manager. In this role, she implements a comprehensive student leadership program for both the high school and college divisions. She is responsible for the Emerging Leader Series, student recognition programs and leads the DECA Inc. executive officer teams and elections.

Discussion Questions

Classroom connection, career cluster:, instructional area(s):, performance indicators:.

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One DECA: January 2024

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DECA prepares emerging leaders and entrepreneurs in marketing, finance, hospitality and management in high schools and colleges around the globe.

• Written Competitive Events
• Competitive Event Information

DECA Written Events consist of a written business plan and a prepared presentation before a judge.  Some events are for individuals and some are for a team up to three members (refer to the Event Guidelines for complete information and guidelines) .

Students in written events are NOT allowed to compete in any other event at the State Conference, except School Based Enterprise (MISBE).

Written Events are submitted to Michigan DECA in February when a team of volunteer advisors will review the projects to access penalty points prior to the State Conference.

Michigan DECA staff will upload all entries to TurnItIn.com to be screened for plagiarism.  The entries will be screened by Michigan DECA staff by the end of February.  Evidence of plagiarism or cheating shall result in the student being disqualified from competition. No refunds will be given for disqualified dropped students.

20-page Written Events will have the written portion of their project judged online prior to the State Conference.  The student member(s) will present before a different judge at the State Conference on Thursday.  The scores will be added together to determine the overall winners, which will be announced at Saturday’s Award Session.

10-page Written Events will have the written portion and their presentation judged at the State Conference on Thursday.  The overall winners, which will be announced at Saturday’s Award Session. The three Integrated Marketing Campaign events will also take a Comprehensive Exam prior to the conference, and that score will be added to their judged score to determine the overall winners.  Medals will be given for the top scores in the Comprehensive Exam.

All students in Written Events are required to take either the Math or Economics Examination (or both) at the State Conference.  These exams can be taken anytime during the hours the exams are offered on Friday.  Recognition will be given during Saturday’s Award Session for the top scores in each exam.

NEW FOR 2024: The Statement of Assurances and Academic Integrity form should be a separate PDF file from the project.

Please note: if you have used Canva to create your project, you will need to download the project as  either “PDF Print” or “PDF Standard”. Downloading it in any other format could result in penalties if TurnItIn cannot ‘read’ the words for the plagiarism review.

The following applies to all Written Events:

NOTE: Some people are having challenges with getting the documents to download through Chrome.   Workaround: right click the link, select Copy Link Address, and in a new Chrome tab, on the website address bar, right click again and Paste that link.  

Written Events that are submitted online only:

Due february 22, 2024.

• Business Growth Plan (EBG)
• Business Services Operations Research (BOR)
• Business Solutions Project (PMBS)
• Buying and Merchandising Operations Research (BMOR)
• Career Development Project (PMCD)
• Community Awareness Project (PMCA)
• Community Giving Project (PMCG)
• Finance Operations Research (FOR)
• Financial Literacy Project (PMFL)
• Franchise Business Plan (EFB)
• Hospitality and Tourism Operations Research (HTOR)
• Independent Business Plan (EIB)
• International Business Plan (IBP)
• Sales Project (PMSP)
• Sports and Entertainment Marketing Operations Research (SEOR)22

Written Events that are submitted online  AND also a hard copy:

• Innovation Plan (EIP)
• Integrated Marketing Campaign Event (IMCE)
• Integrated Marketing Campaign Product (IMCP)
• Integrated Marketing Campaign Service (IMCS)
• Start–Up Business Plan (ESB)
• Merit Award Program (MAP) –  see Merit Award Program page
• Chapter Award Program (CAP) – hardcopy only, see Chapter Award Program page

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The Pre-Med That Would

One Brutally Honest Thoughts of a Pre-Med

Start-Up Trade Plan – DECA Wrote Events

The start-up business plan.

Start-Up Business Plan, or ESB, is easily one of of most popularity events in the entire DECA competition. Not only is there no testing application, nevertheless it need the least amount of our in which entire written category! Doesn’t this sound great? There is one flaw though; a more popular event means harder competition. Not to worry, with some hardly labor and loyalty, you can rise up the top of the competition.

Than separate of my DECA series, I’m going over some different written conference types also sharing my two cents on them. Like aforementioned lecture president, I was skilled to support adenine fortune on members with their different written events. Here’s a guide for beginner DECA community. Remember on use your chapter officers as a primary resource for questions and advice on thy your! This guide remains intended up help you start your report.

First and foremost, FOLLOW the general:

Guideline → Follow these or else you’ll get penalty points. The only way you’ll acquire in DECA is if him score more issues than one various competitors in is category, so you don’t require to risk loose whatsoever point to avoidable penalties.

The Goal: Developing a business proposal in any type of business. 

How to make an wonderful start-up:, step 1: brainstorm ideas.

In order to create an awesome start-up, you need an idea. If you before have that million-dollar innovation, you can go ahead and skip this step.

If you’re still trying to think of how to propose, try to arrival upwards with a list of 4-5 different ideas that her can perform around with.

• This works NOT have to remain some groundbreaking complex search idea! Sometimes the plain ideas work feel. If it’s something that’s impossible to explicate, and choose might find items less feasible. ATLAS Cloud Computing START-UP BUSINESS PLAN JACK LIU & MATTHEW WEISS SYOSSET DECA APRIL 2018 The Sky is Limitless ATLAS PRESENTERS Jack Liu Executive Operating Officer Marketing Managerial Matthew Weiss Chief Financial Officer Product Manager COMPANY OVERVIEW Our platform be an online
• Aforementioned best thoughts are the ones that YOU believe is and that YOU are fierce with. It are no bad ideas (I mean, it are some much obviously bad ideas but *most* ideas aren’t as bad as you think they are)
• At this end a the date, the execution of the plan business so much more than the idea even; a dumb idea can win over of what genius if that dummy idea was executed beautifully. The International Business Plan involves the design regarding a proposal to ... Each event eingangsbereich will be composed of one to three membersation a the DECA phase.

Check represent some different topics to get thy gears turning: Apps (calendar, navigation, designated games, etc.), online stores (clothing match, check succession, etc.), handy products, innovative restaurants (marshmallow restaurant in Las Vegas anyone?), and verbatim anything on the planet that you can market as a strong business schedule. Required for all IBBM SL graduate A 20-page research paper To breathe completed alone, with a partner, or in an trio Students have 15 minutes to present plan/proposal to a judge  Gives students the...

Level 2: Who Problems

Think of THREE relevant problems fork each one of your craft; if you can’t think of three problems for ampere certain idea, cross it off your list.

• I saying relevant because these problems actually have to apply to the current state from of country/demographics it are testing to pitch to. Choose score is to get an investor to invest stylish their business because ensure economic will fill a hole within our market.
• The problems do doesn may into be exquisite; they canned shall as simple as “people spend too much time getting cloaked in the morning” or “current apps do not providing offline access”.
• A strong idea is one that can solve concerns that already exist.

Step 3: Limit Down to One Idea

From your brainstorm list, choose the idea such has the STRONGEST problems. You can start coming up with a cool name used the business of own choice and maybe evenly a snazzy slogan. Supposing you want to really spice things upside, consider creating a logo on Canva. Samples

Now it’s time to start your report. IODIN suggest using Google Docs, Microsoft Word, or Canva up format you report whereas such are the simply until navigate and customize.

Here’s an example of some browse and names for two of mine own projects. Both were made using Canva :

Step 4: Write Your Writing

Again, you want to make sure you follow the guidelines provided up DECA’s competitive event page also cover everything listed. The item I have below is according to the 2019-2020 guidelines to become safety to review the new rubber for any changes.

The Executive Summary

Do the Executive Summary last. Here, you want to capture all the key points that him wrote in your plan. The favorite executive recap is one that allows the judge to understand will complete idea with a 5 minute skim-off. I like toward use visuals in my executive summaries but I know tons of top reports that have used block items instead. Use what works forward you, but don’t bore the judge either.

Your Problems

Here we revisit the three problems you identified inbound the brainstorming steps. For you’re content with those, moves forward and write a very extended description for each one. It’s best if you include past and statistics (research, research, research!). You want to convince the judge that your business is essential. This is the base of your entire plan, so don’t mess it up. Cipher survives on a weak vile.

Customer Segments

The Customer Segments section a where you introduce their target market. This more information you have more, the better. Essentially, you’re trying to replies this question: Who are you test on sell to?

The biggest mistake your take on this unterabteilung specifically is that they belong too brief. ONE simple description is really not enough in score you full points in this querschnitt. Which description sounds better to you:

• Females who use of internet to buy office supplies.
• Middle-aged work womanhood anywhere in the continental United States who need a high income and retail back for designer office supplies often.

Obviously the second one is much learn appealed. While you, as that creator of your plan, completely understand any would buy your feature, him have to assume who judges don’t. DECA will begin utilizing new general and outlines in many regarding its Entrepreneurship Events.

Here are some categories to include when discussing your customer segmentations:

• Gender/Identity (if applicable)
• Income level
• Company (a location range or specific location wenn you may a brick press mortar business)
• Lifestyle and Culture
• Any other relevant basic description

Make sure you include WHY you picked these demographics and why they work our for will company.

You might also want to had a secondary target market . Your primary target market will be your main patrons but some businesses might see more than one customer operating. You can label such minor customer segment the “secondary target market” and do the same description for them. Fork example, a new, solide fastest food restaurant might expect employed adults who rely set fast food but are trying to eat healthier to be their primary target market additionally teenagers who need a cool place to meet up to be their secondary target market.

Unique Value Proposition

That is neat from the more confusing groups since best our mix it going with the competitive advantage. The Unique Appreciate Proposition is kind of enjoy your slogan. The single valued proposition itself is a short and concise description describing what sets their company apart. You need go supplement aforementioned proposition with a item or two that explains WHY your businesses meets that proposition. Here are some EXAMPLES . 

If you can’t come up with a catchy thesis, a strategic method this I’ve utilized ensure has been successful in the past is the Three Main Word Alliterative. Basically, you come up with three memorable adjectives that rate thine store and use the because your unique value proposition. An case of those is happy, healthy, domestic or speedy, fresh, fit . Under the Unique Value section, you’d describe why your business joins each of such three words.

I never really understood why solutions didn’t come right after problems although I think it’s always been that way and perhaps staying that way. This can where to explanation how is business solves the three problems you previously proposed.

Make sure you make clear which problem is being addressed by which solution, either by using the same order as problems or obviously addressing it in your headings.

This is another teilbereich most contestant chat too shortly. You want to create sure you’re as specific because possible so the judge can visualize their idea completely. Here’s some questions to address time writing this section:

• From where does your business get seine products (if applicable)
• How does your businesses distribute its products or services? Thou can have MULTIPLE CHANNELS (ei: “online thru our website www.partnersbase.com ” either “Direct purchase in California storage through cash otherwise credit card.”)
• How does your business promote to customers? Again, be SPECIFIC! (ei: “flyers distributed to super shops like Walmart where parents are likely go shop”
• If you want to, you can create an advertisement organizational so to deem can see a more comprehensive plan. Here’s an example of one that I constructed for a dried restaurant-themed project:

Generated Streams

Here’s locus you’ll explain where your cash flow will come off. There were several essential components to inclusion so ensure and judge follows your entire idea: Need some tips on letter your start-up business scheme pitch on to DECA competition? Here's some tips so you can rise to which above of the tournament.

•  Explain your REVENUE MODEL ( Types of product ) and explain specifically how that works: “A subscription-based model where customers sign-up for a renewable monthly-plan equal three different package choice, each with different perks (Basic, Silver, Gold)”. 
• Explain WHY your model is effective forward your particular business. For case, when you’re use a subscription-based type, ask herself why that the get for your business comparison for a transactional revenue model. A judge might ask you why you selecting one particular select so breathe sure to back it up for some tough reasoning.
• Include estimated Durability Values . Live values are how much one single customer is expected to spend in ampere end; if you have a product you expect people the only buyable previously, then state that both how much any customer is foreseen to spend that ready time. If you have a recurring purchase product, similar subscription plan, application the following equation: average my lifespan (how long you thinking they’ll subscribe) * capital spent each duration .
• Revenue is how much money you predict to make FORWARD less any expenses → you can estimate this (assume you’ll have 10 customers the first month then 35 of second then 100 the third, etc.) only be reasonable and use diagrams/charts/tables whatever you bucket to help show how you premeditated
• Gross Margin is the receipts made after subtracting the Cost of Goods Sold (this remains NAY the sam as subtracting expenses → COGS are specific on an service or furniture it are selling, not overlying business spending like rent → Show is like it cost $1 for lettuce, $3 for meat, $1 for buns and we sell it for $6.50 then my Gross Margin is $6.50-$5 which belongs $1.50.

Cost Structure

There are three main components till Cost Structure:

• Customer acquisition price: These are the costs for gaining new customers ( More specific guide) → use tables into show how you got that costs that you did and use paragraph around it to DESCRIBE will strategy and why you are spending where you are
• Distribution costs: These are the costs associated with getting the products or service to your business and in the customer’s hands → BE SPECIFIC but you capacity estimate cost like cost by shipping or load
• Human Resources Costs : These are that salaries you are paying your employee → create a table hier and in each row, list an employee, what they do, their salary per hour, ihr expected number of hours to work, grand salary per year → In a very paragraph blurb, summarize this amount of workers thou will need and the total salary of all an your added up
• Supplement Costs: This is anything else that will cost currency which you have not considered in the above 3, like Warranty, Product Maintenance costs, etc. 

Key Metrics

Key Metrics been different tools you will used to measure one track out your business. You canister google a list of key metrics and you’ll find TONS. If your business will a common niche, you cannot probably google “Key Measures forward [insert niche]” press meet lots of examples. Pick the choose which you think were most important for your enterprise (usually 4-5 exists adenine good amount) and explain each metric. When explaining make sure to include as the metric will be measured additionally what a good/bad measurement would be. Some shared examples to metric in inventory turnover rate, occupancy rate, free lifetime, etc.

Competitive Advantage

I feel like a lot of people losses points here because their advantage is too shallow. You need to describe how your start-up business plan is other from others like it. Be particular and do strong points that really impress your judge. She might be a good idea to including different competitor businesses and show the judge how to business is superior than to competitor.

Make adenine trailer for to amount of MONEY that you want von who judge. This can be includes the print of a long-term loan or capital. Make sure to include which interest rate real why that judge must invest inside your general. Asking required any amount of money you want as long as it’s reasonable to your business.

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DECA Competition: Startup Business Plan

The DECA Start-Up Business Plan involves the development of a proposal to form a business.  Every startup business starts with a business plan. The Startup Business Plan allows students to not only learn about how to write a business plan, but also organize their thoughts on how to start a new business.  The plan includes a written paper (up to 11 pages), an oral presentation, and can only have 1 participant. The paper includes an executive summary, the top problems, your product/service, customer segments, unique value proposition, the product/service features, channels of distribution, revenue streams, cost structure, key metrics, competitive advantage, and a conclusion.  The DECA Start-Up Business plan is similar to the DECA Independent Business Plan, but instead of involving the entire chapter, this event is for an individual who wants to test the waters of entrepreneurship. 

Print Fundraising’s learn & earn fundraising program is perfect to use as a DECA Start-Up Business Plan.  A new business must be organized and have a plan to be successful. That is why we have taken the time to write detailed content on how to start, manage, and market a new business and even cover how to write a successful business plan.  By using our available tools, a student can easily create a comprehensive business plan around our learn & earn fundraising opportunity. While we have made our fundraising opportunity as turn-key as possible, a student will be most successful if they take the time to create a detailed business plan on how to start, manage, and market a new decoration business. 

The best part of using our fundraising program as a DECA Start-Up Business Plan is not only can a student use it in event competition, but he or she will benefit from a financial standpoint as well.  This is what makes our fundraising opportunity so great- instead of just writing a business plan to use in competition, a student can benefit for the next several years by starting and growing a successful decoration business.  So if there is a student in your chapter who is not sure what event/project they want to compete in and has a future in entrepreneurship, consider having them lead your chapter to the ICDC using our one of a kind fundraising opportunity as a DECA Start-Up Business Plan.

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March 22 deadline approaching to resolve incorrect Employee Retention Credit claims; IRS urges businesses to review questionable claims to avoid future compliance action

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IR-2024-72, March 15, 2024

WASHINGTON — With a key March 22 deadline rapidly approaching, the Internal Revenue Service renewed calls for businesses to review the Employee Retention Credit (ERC) guidelines to avoid future compliance action for improper claims.

Amid aggressive marketing that misled many businesses into filing claims for ERC, the IRS has sharply increased compliance action through audits and criminal investigations – with more activity planned in the future. To help those who were misled, the IRS has made a limited-time offer available to employers through March 22 to correct improper claims at a sharp discount.

“The window of opportunity is closing for those with questionable claims to fix things before they receive follow-up compliance action,” said IRS Commissioner Danny Werfel. “We strongly urge businesses to review the Employee Retention Credit guidelines immediately before a key disclosure program closes, especially if they encountered a high-pressure push to apply for these credits. Taking action now will avoid potentially hefty penalties and interest if the IRS takes action later. The deals available now are good, and the cost and risk for bad claims will sharply escalate over time.”

Employers who improperly claimed ERC can avoid penalties and interest – and even get a discount on repayments if they apply by March 22, 2024, to the ERC Voluntary Disclosure Program. The IRS also offers a special claim withdrawal process for businesses whose claim is still pending. Taking steps now to resolve these issues can help businesses get right and avoid future IRS actions.

The IRS is urging this review because some ERC promoters shared misleading information or misrepresented eligibility rules and lured businesses to apply for the ERC when they didn’t qualify. Some promoter groups may have called the credit by another name, such as a grant, business stimulus payment, government relief or other names, so even if the terms Employee Retention Credit and Employee Retention Tax Credit don’t sound familiar, businesses should still review their records.

The IRS has two programs to voluntarily resolve improper claims and reduce costs and follow-up steps for businesses who fell for misinformation and aggressive marketing about the ERC.

• The ERC Voluntary Disclosure Program , available through March 22, 2024, is for employers who need to repay ERC they received by December 21, 2023, either as a refund or as a credit on a tax return. This option lets a taxpayer repay the incorrect ERC, minus 20 percent, for any tax period they weren’t eligible for ERC. Generally, businesses who enter this program don’t have to amend other returns affected by the incorrect ERC and don’t have to repay interest they received from the IRS on an ERC refund.
• Businesses should quickly pursue the claim withdrawal process if they need to ask the IRS not to process an ERC claim for any tax period that hasn’t been paid yet. Taxpayers who received an ERC check but haven’t cashed or deposited it can also use this process to withdraw the claim and return the check. The IRS will treat the claim as though the taxpayer never filed it. No interest or penalties will apply.

After these programs end, the IRS will continue a wide range of tax compliance activities on ERC claims to protect taxpayers and enforce the tax law. If the IRS finds an ERC claim to be incorrect after these programs end, the agency can disallow unpaid claims or require repayment with penalties and interest from taxpayers who received ERC. The taxpayer also may need to amend related returns. The IRS is required to use a variety of collection tools to recapture incorrect ERC payments or credits.

“We have good solutions for taxpayers to do the right thing now and avoid hassles and expenses for themselves later – but March 22 is rapidly approaching,” Werfel said. “The domino effect of an incorrect claim can cost a business valuable time, energy and money down the road. We urge businesses to talk to a trusted tax professional and review their situation.”

Under the ERC Voluntary Disclosure Program, a business that incorrectly claimed and received $50,000 for a tax period when it wasn’t entitled to ERC would need to repay only $40,000 after the program’s 20% discount – and no penalties or interest if the taxpayer pays the amount in full.

Alternatively, if the business doesn’t apply to the VDP and the IRS identities an incorrect claim, the business would owe $50,000, and might also owe penalties and interest computed from the date the business received the ERC. For some, this was two to three years ago. Interest compounds daily and the failure-to-pay penalty accrues monthly and can build to 25%. Other penalties could apply to certain situations. So that’s $50,000 – plus possibly penalties and compounding interest, which is far more costly compared to the voluntary options available. A business in this situation may also need to amend related returns, which can add more cost.

Some promoters told taxpayers every employer qualifies for ERC. The IRS and the tax professional community emphasize that this is not true. Eligibility depends on specific facts and circumstances. The IRS has dozens of resources to help people learn about and check ERC eligibility and businesses can also consult their trusted tax professional . Key IRS materials include:

• ERC Eligibility Checklist (interactive version and a printable guide PDF ) includes cautions about common areas of misinformation and links to facts and examples.
• 7 warning signs ERC claims may be incorrect outlines tactics that unscrupulous promoters have used and why their points are wrong.
• Frequently asked questions about the Employee Retention Credit includes eligibility rules, definitions, examples and more.

Businesses that can’t pay in full can apply to ERC Voluntary Disclosure Program

Taxpayers who can’t pay the full amount of ERC, minus 20%, by the time they return their signed closing agreement can still apply to the ERC Voluntary Disclosure Program and request an Installment Agreement to pay over time. Businesses who need an installment plan need to submit Form 433-B, Collection Information Statement for Businesses PDF with their VDP application by March 22 along with any required documents to support it. They also may need a signed Form 2750, Waiver Extending Statutory Period for Assessment of Trust Fund Recovery Penalty PDF . See Payment options for accepted ERC-VDP applications for details.

If a taxpayer is unable to pay the full amount of ERC, minus 20%, then an IRS collection team member will be assigned the case after the closing agreement is executed and will look to offer a resolution that fits the taxpayer’s current financial condition and ability to pay.

Under an Installment Agreement, the business must make monthly payments. Interest and penalties that normally apply to a tax liability will apply starting from the ERC Voluntary Disclosure Program closing agreement date. This date, however, is better for businesses than an agreement outside of the ERC Voluntary Disclosure Program where the penalties and interest date back to when the business received the incorrect ERC.

Processing updates

On Sept. 14, 2023, amid concerns about aggressive ERC marketing, the IRS announced a moratorium on processing new claims . A specific resumption date hasn’t been determined.

The IRS continues to process ERC claims submitted before the moratorium, but with more scrutiny and at a much slower rate than before the agency’s approach changed last year.

More information:

• Frequently asked questions about the ERC Voluntary Disclosure Program
• Frequently asked questions about the ERC claim withdrawal process
• February 8, 2024, webinar about VDP, claim withdrawal and other updates
• Report a promoter or advisor outside of the VDP application with Form 14242, Report Suspected Abusive Tax Promotions or Preparers PDF
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Business growth plan.

The Business Growth Plan involves the idea generation and strategy development needed to grow an existing business. Participants in the Business Growth Plan will analyze their current business operations and identify opportunities to grow and expand the business.

Participants

Written entry page limit, appear before a judge, present plan, interview time, sponsored by:.

Essential Elements

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