Entrepreneurship--Lesson 2-3 Slides

Match

Match the business plan component to its description

• Summarizes what one wants to accomplish with a business, the products and services one sells, financial outlook, the funding needed, one's goals, and one's achievements.

• Determines the size of a market with the marketing analysis and describes potential customers to provide a customized plan to reach them.

• Provides an overview of the employees and others that are part of a business

• Includes a budget, a 12 month profit/loss projection, cash flow statements, a breakeven analysis, and capital requirements to show investors how their money will be spent.

executive summary

marketing plan

organizational structure/management bios

financial plan

• executive summary

• marketing plan

• organizational structure/management bios

• financial plan

Match

Match the following sections of a typical Business Plan with the items that may share in those sections.

• details of the firm’s marketing mix, e.g., pricing strategies, distribution networks, promotional campaigns

• projected cash flows. or for established businesses, this will include the latest final accounts (balance sheet and profit & loss account)

• usually includes competitor analysis, outlining the main rivals in the industry and their respective market share. It should include projected total market sales & growth figures

• its legal ownership status, location(s), business name and all products/services offered

• a brief about key staff in the organization (such as the owners or senior executives), and may include an organizational chart.

Marketing

Finance

The Market

The Business

Personnel

• Marketing

• Finance

• The Market

• The Business

• Personnel

Match

Match the part of the business plan to its definition.

• Competitive Analysis

• Sales Forecast

• Marketing

• Budget

• Daily Operations

Strengths and Weaknesses

How many sales you expect to make

How people hear about your business

How much money you can spend and make

The tasks to be done everyday

• Strengths and Weaknesses

• How many sales you expect to make

• How people hear about your business

• How much money you can spend and make

• The tasks to be done everyday

Multiple Choice

Which of the following is a benefit of thoroughly researching your business plan?

• It guarantees immediate success

• It helps you understand all aspects of running a business

• It eliminates all risks

• It allows you to avoid hiring employees

Multiple Select

Which of the following are examples of community, government, and professional resources that can help in business planning?

• Small Business Administration (SBA)

• Professional consultants

• Books

• Internet search