University Personal Business Plan Project: Career and Financial Goals

This Personal Business Plan outlines the student's vision to start a coffee shop business in the UAE after graduation, focusing on entrepreneurship and career development. The plan includes a mission to provide a superior coffee experience and a welcoming environment, targeting millennials. It covers marketing strategies, product positioning, and differentiation through unique offerings like herbal coffee and a library section. The plan also addresses potential risks, such as competition and economic factors, with mitigation strategies like employee training and ethical business practices. The student identifies mentors and summarizes the plan with a six-word memoir: "honesty, customer satisfaction, exception, originality, cost –efficiency and long-term focus".

Running head: PERSONAL BUSINESS PLAN REPORT
Personal Business Plan
Name of the Student:
Name of the University:
Author Note:

1PERSONAL BUSINESS PLAN
Vision and Opportunity
The principles of the Personal Business Plan are similar to that of the corporate business
plan. The Personal Business Plan reviews the personal goals pertaining to the career and
financial development. After the completion of my graduation from the university I would like to
start my own business in United Arab Emirates (UAE). My long time goal is entrepreneurship
and I would like to own a coffee shop and start its operation in UAE.
The initial purpose or objective is to raise capital in order to own and start business of
coffee shop. The mission of the business plan is to start a new coffee shop that would offer more
than coffee to the customers that includes a meeting place and a pleasant environment. I would
ensure that the coffee shop provides healthy and superior quality products to the customers that
would retain environmental health and quality.
The three key questions that guides my choices are:
 What do I love?
 How can I have an impact?
 What do I fear?
It is expected that the coffee shop business in UAE markets would be a successful venture as
the good purchasing power facilitates the people in UAE to dine out often. A coffee shop
business can prove to be a good return on investment.
Marketing and Implementation Strategy
It has been found that the millennials in the UK (age 18-34), consume more coffee than
any other generation. They consider it as an affordable luxury and also prefer those coffee shops
which provide free wi-fi and some snacks too. Hence, my coffee shop would target the
millennial in UK and would try to add intimate and valuable experience to the lifestyle of the
consumer by the integration of caffeine with the comfortable environment. An ideal product
positioning statement is what reflects the value, mission and objective of the company. It defines
what the company promises to the customers to serve. The positioning statement of my coffee
shop would be something like ‘We are the ultimate coffee destination’.

2PERSONAL BUSINESS PLAN
My coffee shop will add value to the society by serving herbal coffee that is nutritious for
health. It will be a place where people will gather and share their knowledge and intellects along
with having a hot mug of coffee. My coffee shop will be different from other UAE students and
from the broader populace in many aspects. I will try to incorporate all the facilities that a
customer expects or needs. It will have free w- fi connections, a small library section, beautiful
and soothing décor. There will be a variety good range of coffee varieties with suitable
combinations. On special occasions it will provide attractive discounts to have the customer
loyalty and their satisfaction. It will be known not only for brilliant coffee but also the snacks
served with it such as cakes, sand-witches and cookies.
Risks and Mitigation
The three checklists or milestones in my business plan are marketing to the key
demographics, using the marketing medium wisely, avoiding marketing pitfalls, gaining
competitive advantage and maintaining the customer loyalty. I will measure if I have
successfully attained these milestones by the help of customer responses. The customer
feedbacks are the best way to know how much I have stood up on their expectations. The
potential competitors, economic system of the country, political situation, social determinants
and of course the buyer persona can affect my attaining of success either positively or negatively.
As a potential risk management strategy I will train my employees regarding service and
safety, tap into technology and use advanced techniques in the operations, maintain the facilities
especially the coffee making equipment, adhere to CSR values and health and safety codes and
lastly hold all necessary licenses. All the business activities will be solely ethical taking the
concern of the staffs and customers by keeping regular interaction with them. The flow of
information will be transparent and adhere to the regulation and policies of the country and
society.
I will choose three people as my mentors if ever asked to. The first person will be the
managing director of Starbucks (due to the massive coffee craze he has generated among the
Starbucks lovers), the second person will be my supervisor (who has taught me the fundamentals
of entrepreneurship) and the third person will be my own self (not as a seller but as a buyer).
The six –words memoir for my personal business plan will be “honesty, customer
satisfaction, exception, originality, cost –efficiency and long-term focus”.

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Bibliography
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evidence from a business plan competition. The World Bank.
Ward, J. (2016). Keeping the family business healthy: How to plan for continuing growth,
profitability, and family leadership. Springer.