Business Plan
This document provides direction and an action plan for a new business and potential investors
What is a business plan?
These five topics all start with the letter P, and they make up the marketing mix.
What are product, price, placement, positioning, and promotion?
These documents or spreadsheets help demonstrate the financial health of the company. Name any two of them.
What are balance sheet, startup budget, cash flow, PNL, break even analysis.
The people who work in a business
What are employees?
This is the type of business that ELIGO is.
What is an LLC?
A tool that helps you communicate to potential investors or partners that you have thought about all the divisions and leadership structure of the business.
What is an organizational chart?
This is the segment of potential customers that a business aims to reach
What is the target market
These 4 sources of income are called revenue streams. Name any 3 that ELIGO has.
What are trade show sales, website sales, out of ve sales, or B2B sales?
This management strategy ensures that everyone stays "in the loop"
What is communication?
This platform and sales tool is abbreviated by POS
What is "point of sale"?
This important information about the business comes early in the plan and helps demonstrate that the business concept is a good idea that potential customers would want.
What is problem and solution?
This is what sets a company apart from its competitors.
What is a competitive advantage?
Loans, seed money, and angel investments are all examples of what?
What are startup funds or capital?
This management structure allows for "top down" leadership, delegation, and communication. ELIGO has this structure.
What is a hierarchical structure?
This is the most important part of a sales pitch.
What is listening to/understanding the customer?
This section appears first but is actually written last because it provides overall highlights of the business plan.
What is the executive summary?
Sasha is ELIGO's this:
What is ideal customer profile?
When revenue and expense are equal, this point indicates when a company will become profitable.
What is break-even point?
This management strategy is often used for brainstorming, feedback, or sharing.
What is a meeting?
This type of product does not require sales tax. ELIGO sells it.
What is an app?
These four topics are analyzed, explained, and abbreviated with the letters SWOT.
What are strengths, weaknesses, opportunities, and threats.
ELIGO has utilized multiple promotional strategies; name any three of them.
What is social media, email, trade Shows, website, class visits, branded merch, commercial, flyers, announcements, newsletter, in person events, etc.
This four-letter acronym is the base price of a product. Adding the markup determines the retail selling price.
What is COGS (cost of goods sold)?
This intangible ingredient is essential to a happy, efficient, productive company.
What is employee Motivation?
This is the process that helps determine what would prevent it from becoming profitable?
What is a risk analysis?