Reasons for a business plan
A company’s blueprint for success. It shows the company’s capabilities—including how the business works now and how it is intended to work in the future.
What is a business plan
This component introduces your business name and the key managers who wrote the plan.
What is the cover page?
Which component is the most important and why?
The executive summary because when the investors read this section, it will make them decide if they want to know more
Here, the business shows how it has performed (or is likely to perform) financially.
What is the financial plan?
How many components are in the business plan? (not the lean canvas)
What is 10?
This component gives an overview of the entire document.
What is the executive summary?
This section includes the marketing plan, how the company will reach and sell to customers, and the company’s plans for handling public relations.
What is strategy and implementation?
Which section would you identify key employees and their skills, experience, and accomplishments.
What is the management plan?
What is the most common reason for writing a business plan?
This section includes every good/service the company offers, a description of the new product (if applicable), and how the new product was/is being developed.
What is products offered?
This is where a start-up business explains what the company is all about and an existing business includes how its venture fits into the company’s current operations. The history of the business goes here as well.
What is company description?
This section includes information about the industry and target market—identifying the target market in specific terms.
What is the market analysis?
A start-up business can benefit from writing a business plan in two situations:
• When it needs money to pay for equipment, labor, etc., as it is beginning operations
• When its owners or partners need to clearly identify their roles in the business
Here, all the sections are listed with their page numbers.
What is table of contents?
Where do the extra items such as management résumés, specific charts or diagrams, market research results, contracts, licenses, and letters of intent.
What is appendices?
Where would you find the description of employees’ experience and skills
What it the management plan?
An existing business can benefit from writing a business plan in the following 6 ways:
Acquire funding, Implement a strategic plan, Assess a new product or promotion, Prepare for an expansion, Obtain a specific contract or agreement, Place a value on the business
Name all the components on the business plan? (not the lean canvas)
• Cover page
• Executive summary
• Table of contents
• Company description
• Product(s) offered
• Market analysis
• Strategy and implementation
• Management plan
• Financial plan
• Appendices
Where would you examine what competitors are doing in the same market
What is the market analysis?
Where would you find the products UVP in the business plan?
What is products offered?