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The business plan is an experiential, hands-on approach to learning. Graduates and board members have expressed that the business plan is the toughest, but most beneficial, part of our program. That experience is what has produced our quality graduates with keen business skills.
The Business Plan Requirement
The Academy uses the Deloitte Touche "How to Write an Effective Business Plan" as our guide for the business plan project. along with a draft business plan that has been honed by local business leaders. SEA has other resources available at the office, including past class project plans and internet references. The business plan is done in teams of three to four. This distributes the work required by student members, which facilitates group interaction and team building. It also closely parallels the process of creating an actual business. Student members must choose their teammates by the fourth Saturday session. Teams must choose their idea for the plan by the ninth Saturday session.
Teams are expected to keep their plan progressing at a rate consistent with the Saturday session topics. Although it is not possible to finish writing each segment as it is presented in the Saturday sessions, each area should be worked on, drafted, and written into a structure as the Saturday sessions progress. The parts should be thought of as one of the components of the whole business. This means that the business plan is a "work-in-progress"; that teams are writing, revising, and rewriting as the ideas are refined. By working on sections of the plan paralleling the Saturday sessions, questions can be addressed in the process and the written Business Plan becomes a more manageable process.
Over the holiday breaks, student members can do rewrites and meet with board members for input. There will be several checkpoints where the student members meet with board members for advice on their plan. At least one member of each team is required to attend the checkpoints – all members are encouraged to attend. There are no extensions or exceptions to the posted deadline.
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