Business Life Cycle
Stage where you test ideas and research before launching.
Prestartup Stage
A written summary of what a venture can accomplish and how.
Venture Plan
The "What?" question focuses on this.
Product/Service Offering
Section 1: Summarizes mission and key points.
Name the section.
Executive Summary
Costs like rent that stay constant regardless of production.
Fixed Costs
Goal in this stage: Expenses = Revenue.
Development Stage (Break-even)
Reason #4: Helps determine this critical startup need.
Funding/Money Required
"Why?" explores why customers should do this.
Buy/Choose Your Product
Section 2: Confirms customer existence via this analysis.
Name the section
Market Analysis/Needs Assessment
Selling assets to raise funds.
Stage where profits allow expansion and debt repayment.
Growth Stage
Reason #5: Identifies these to evaluate progress.
Benchmarks/Targets
"Where?" covers business location and access to this.
Equipment/Resources
Section 3: Analyzes expense goods (e.g., paper) and capital goods.
Name the section
Resource Analysis
Point where total revenue = total costs.
Break-Even Point
"Comfort Stage": Assets > Liabilities, but growth slows.
Comfort Stage
Reason #6: Makes this easier by providing an outline.
Day-to-Day Management
"When?" identifies periods of peak this.
Demand
Section 4: Defines employee roles and backup plans.
Name the section
Operating Strategy
A mentor provides this (e.g., support, ideas).
Guidance
Stage where you reinvent or close due to financial trouble.
Turnaround Stage
Two key elements in the Executive Summary.
Mission Statement + Business Overview
"How?" assesses market size and competitor _______.
Strength/Competition
Section 5: Predicts financial resource use; includes startup costs.
Name the section
Financial Strategies
"To supply a venture with funds."
Capitalize