Scholarly and Creative Works Conference, Dominican University of California
San Rafael, CA
Rajeev Sooreea, PhD
Nine out of ten start-up businesses fail. Among the many arguments why this happens, one key reason is that start-ups do not have a well thought-out business plan, which prepares them to think through the business planning process in a systematic manner. In my Entrepreneurship course in the Barowsky School of Business, we used “The Successful Business Plan: Secrets & Strategies” by Rhonda Abrams (2019) to build a semester-long business planning project. Because the work is still in progress, the current study presents some of the main elements that are key for a successful start-up business: mission statement, company description, industry analysis, target market, competition, marketing strategy, and social responsibility. The course has students practice these steps through the creation of their own start-up business. In my case, I focused on a non-alcoholic beverage company called Jaak’s Bevs. This brand explores the concept and business model for a non-alcoholic drink in the market because we observe the trend of a decline in the consumption of alcohol throughout the United States and consumer need of an alternative drink to fit in with peers in social settings or in the comfort of their own homes. In this academic exercise, I examine how these elements of business planning can be applied to Jaak's Bevs to position it for success.