The Business Plan
A written document that describes all the steps necessary for opening and operating a successful business.
What is a business plan?
What is introductory elements, main body, and the appendix?
This introduces and explains an accompanying document or set of documents.
What is the Cover letter?
Organizations made up of professionals in a specific industry.
What is trade associations?
A financial statement based on projected revenues and expenses
What is a pro forma financial statement?
Explains the idea behind your business and spells out how the product/service will be produced and sold
What is the Purpose of a business plan?
This section will contain the bulk of information about the business idea.
What is the main body?
A short restatement of the report.
What is and executive summary?
An independent agency of the federal government that was created to Americans start, build, and grow businesses.
What is the SBA (Small Business Administration)?
Describes the backgrounds and experience of the people who will be running the business.
What is the purpose of the business plan?
Sets the specific objectives and describes how your business expects to achieve them.
What is the purpose of a business plan?
What is the Introduction?
Tax returns, personal financial statement, copy of proposed lease, and sales contracts would all be included in this section
What is the Appendix?
To convince readers that you have come up with a practical business ideas your plan must do this.
What is include information and data from objective sources to show that your idea is founded on solid evidence?
a brief explanation of why you are asking for a loan and what you plan to do with the money
What is a statement of purpose?
Makes you think about all aspects of your business, secure financing, communicate your ideas to others, and serve as a management tool
What is the importance of a Business Plan?
The description of the products/services you will offer, the market, the industry, and your location should all be included in this section.
What is the Marketing section?
This should be written after the business plan has been completed.
What is the executive summary?
SCORE is an acronym for this valuable assistance source
What is the Service Corps of Retired Executives?
Provides detailed financial information that show how your business will succeed in earning profit.
What does a business plan do?
Explains who will run your business and who will supply it with goods.
What does a business plan do?
The Main body should be organized into 5 main sections.
What is the Introduction, Marketing, Financial Management, Operations, and Concluding Statement?
This show the reader what each page covers and should be accurate.
What is the table of contents?
Unrealistic financial projections, undefined target market, poor research, ignored competition, and inconsistencies in the plan
What is mistakes in business planning?
Describes what your business will produce, how you will produce it, and who will buy your product.
What does a business plan do?