Business plan
Why do you need a business plan?
A business plan is needed to outline goals, strategies, and financial plans, helping guide the business, secure funding, and make informed decisions
Why is it important for people to create and follow a budget?
To manage money effectively, avoid overspending, save for future goals, and handle unexpected expenses.
What do you call the money you earn from your job?
This entrepreneur co-founded Microsoft and is known for his philanthropic work through the Bill & Melinda Gates Foundation.
Bill Gates
This chocolate company’s logo features gold lettering on a brown background and has been crafting chocolate since 1896.
Whittaker
What is market research used for in a business plan?
Market research is used to understand customer needs, evaluate demand, identify target audiences, analyse competitors, and assess market trends to make informed business decisions.
If you earn $1,000 a month and spend $500 on rent and $200 on food, how much do you have left for other expenses?
$300
If you earn $20 an hour and work 15 hours, how much is your total income?
$300
This entrepreneur is a music icon and the founder of Fenty Beauty, a cosmetics brand that promotes inclusivity.
Rhianna
This online marketplace’s logo includes a blue and yellow color scheme and is popular for buying and selling items in New Zealand.
Trade me
Name two types of traditional advertising and one type of modern advertising.
Traditional - Television ads, print ads (newspapers/magazines), radio
Modern - Social media advertising, product placement
What is it called when you save money each month for unexpected expenses?
Unexpected expenses like a job loss.
Emergency fund
What is the name for the amount of income you take home after taxes and deductions?
Net Pay or Take Home Pay
This entrepreneur was one of the co-founders of PayPal, founded SpaceX, and became a major investor in Tesla, eventually becoming its CEO. He’s also involved in Neuralink and The Boring Company.
Elon Musk
This retail chain’s logo features bold red text and is known for its slogan, "Where everyone gets a bargain."
Warehouse
In a business plan, what is a SWOT analysis used for? Identify all 4 categories.
A SWOT analysis identifies the company’s Strengths, Weaknesses, Opportunities, and Threats to help plan for success and challenges.
If you earn $3,000 a month and have the following expenses:
$1,050
Name one type of income other than a salary that someone can earn.
Rental income, investment income, business income
This entrepreneur is one of the world’s most successful investors and leads Berkshire Hathaway. He is often called the “Oracle of Omaha.
Warren Buffet
This dairy company’s logo features green and blue swirls, representing its global reach and ties to New Zealand’s agriculture.
Fonterra
Why is break-even analysis important in a business plan, and how does it help a business owner make financial decisions?
Break-even analysis helps determine the point at which a business will start to make a profit by calculating the level of sales needed to cover all fixed and variable costs.
It helps business owners understand the minimum performance required to avoid losses and can inform pricing, cost-cutting, and sales targets.
You are creating a monthly budget.
Correct this calculation:
120 rent expense per week
To calculate monthly
You take 120 and multiple it by 4 to get 480.
(120 × 52) / 12 = 520
What is the term for money you earn from investments, like interest on savings or dividends from stocks?
Passive Income or Unearned Income
This entrepreneur founded Alibaba, a Chinese e-commerce giant, and is one of the most influential business figures in Asia.
Jack Ma
This airline’s logo features the Koru, a Māori symbol representing new life and growth, and is inspired by the spiral shape of an unfurling fern.
Air NZ