Definitions
a written document that details a proposed venture
what is "Business plan"?
The number of elements in an effective business plan
What is "10 elements"?
Set up a timetable of specific steps during a specific period
what is "No realistic goals"?
group of consumers or businesses that a company aims to reach and serve with its products/services and marketing efforts
what is "Target market"?
This element should be constructed after the completion of the entire business summary
What is "Executive summary"?
List the possible issues that may occur
What is "Failure to anticipate roadblocks"?
Financial Statement showing the future revenue and expenses tot estimate profit for a specific period
What is "Profit and Loss (P&L)/ Income Statement"?
This element contains an industry background as well as the uniqueness of the product or service.
What is "Business description"?
Be proactive and follow up on all professional appointments
What is "No commitment or Dedication"?
an example of a major liquidity event, where a private company sells shares to the public
What is "Initial Public Offering"?
This element considers proximity to supplies when starting a business
What is "Operations"?
Get evidence of personal experience and background information for the business
What is "Lack of Demonstrated Experience"?
produces a calculated decision to minimize all types of spending on a specific product to maximize profitability
Hint: an element of the business plan
What is "Harvest Strategy"?
This element considers all the possible problems and alternative courses of action for those potential problems.
What is "Critical risks"?
State specifically how the product or service will meet the needs of the desired target group
What is "No Niche Market"?