Business Basics
This section summarizes the entire business plan in 1–2 paragraphs
What is the Executive Summary?
The type of industry your business operates in
What is Industry?
Anything a business sells to customers
What are Products/Services?
A short phrase that captures your brand message
What is a Slogan?
Business targets within 3–6 months
What are Short-Term Goals?
The purpose and reason a business exists
What is a Mission Statement?
The group of people most likely to buy your product
What is Target Market?
The positive result customers get from your product
What are Benefits?
Platforms like TikTok, Instagram, or flyers
What are Marketing Channels?
The team who helps run the business
Who is the Operations/Management Team?
A statement of long-term future direction
What is a Vision Statement?
The problem your business solves
What is the Problem (or Pain Point)?
The amount of money charged for a product
What is Price?
The amount of money needed to begin the business
What are Startup Costs?
A 1–2 minute presentation that sells your business idea
What is The Pitch?
Three reasons a business will succeed are called this
What are Keys to Success?
Other companies offering similar products or services
Who are Competitors?
Multiple ways the business earns money
What are Revenue Streams?
Money spent every month to run the business
What are Monthly Costs?
The future plan for 1 year
What are Medium-Term Goals?
The official name you give your business
What is the Business Name?
When customers have a need your business can meet
What is an Opportunity?
A bundle of things offered together (like 3 services)
What is a Package?
When revenue equals expenses—no profit or loss
What is Break-Even Point?
The tasks done day-to-day in a business
What are Daily Operations?