Business Plan
A concise overview of the entire business plan. It includes the business name, mission, product or service offered, target market, and basic financial highlights. It should be compelling enough to make investors or stakeholders want to learn more.
Executive Summary
involves planning, organizing, leading, and controlling a company’s resources (people, time, money) to achieve business goals. It includes setting objectives, making decisions, and guiding employees to ensure productivity and efficiency.
Management
The last step in the DMP, assess the results of the decision. Determine if it solved the problem or achieved the goal, and reflect on what can be learned for future decisions.
Evaluate the decision
This function involves setting goals and deciding how to achieve them.
Planning
This is the simplest form of business ownership, where one person owns and operates the business.
Sole Proprietorship
Describes the company’s organizational structure. This section includes details about ownership, the leadership team, their roles and responsibilities, and their backgrounds. It may also include an organizational chart.
Organization and Management
is responsible for managing the business’s money. It includes budgeting, forecasting, financial reporting, and securing funding. This function ensures the business stays profitable and can meet its financial obligations.
Finance
Evaluate the pros and cons of each option. Consider how each one aligns with your goals, values, resources, and potential consequences.
Weigh the evidence
This function includes motivating employees, resolving conflicts, and providing direction.
Leading
This type of business is owned by two or more people who share profits, losses, and responsibilities.
Partnership
Presents expected financial performance, including income statements, cash flow statements, and balance sheets for the next 3–5 years. It should reflect funding needs and market assumptions and show the business's potential for profitability.
Financial Projections
Promoting and selling products or services.
Marketing
Recognize that a decision needs to be made and clearly define the issue or objective you are trying to address.
Identify the Problem or Goal
This function ensures that tasks are assigned and resources are coordinated to reach business goals
Organizing
This business structure allows individuals to buy the rights to operate a branch of an established brand.
Franchise
Outlines the research on the industry, target market, and competitors. It includes demographics, market trends, customer needs, and an analysis of the competitive landscape to show that there is a demand and how the business will position itself.
Market Analysis
focuses on generating revenue by selling the company’s products or services to customers. It involves building relationships, understanding customer needs, presenting solutions, negotiating deals, and closing sales.
Sales
Collect relevant data, facts, and opinions to understand the situation better. This may include internal data, research, or feedback.
Gather information
This function involves measuring progress and making adjustments to stay on track.
Controlling
This hybrid business structure combines the benefits of limited liability with flexible taxation options.
Limited Liability Company (LLC)
Provides detailed information about the business, including its history (if applicable), mission and vision statements, legal structure, location, and the problems it solves for its target market.
Company Description
responsible for tracking, analyzing, and reporting a business’s financial information. It ensures that all financial transactions—like sales, expenses, payroll, and taxes—are accurately recorded and reported.
Accounting
Evaluate the pros and cons of each option. Consider how each one aligns with your goals, values, resources, and potential consequences.
Weigh the Evidence
These four functions—planning, organizing, leading, and controlling—are all part of this broader business role.
Management
This type of ownership protects personal assets by making the business a separate legal entity
Corporation