Business Plan

What is a business plan?

• A gallery of photos that explains the location and construction of the business
• A written plan that is a description of all the aspects of the business and includes the business's goals
• A collection of plans that are combined from different business and then analyzed  and compared to your business
• none of the above are correct; a business plan is simply a list of guidelines that tell successful business's how to run their company in order to make a profit 

What should the aspect of the  cover sheet or table of contents NOT include?

• owners name, company name, and the business's address
• website, email address 
• the business logo
• the competitors of that business

What should the  aspect of the company description include?

• diagrams, photographs
• vision and mission statement
• back up description of the target market, why your idea will be successful and capture the market and why the opportunity is present
• all of the above

What is the most important part of your business plan?

• Executive Summary
• Table of Contents
• Background
• Financial Plan

Which of the following parts of a business plan include the cash flow projection and the repayment plan?

• Background and History
• Executive Summary 
• Market Research
• Financial Plan

Which part of the business plan explains the process of attraction of customers to your business and how you determined the appropriate customers?  

• Market Research/anaylsis
• Financial Plan 
• Background and History
• all of the above

What is the difference between the Start Up plan and the Occupational Plan? Which statement is correct

• The Occupational  Plan tells where you want and plan to start the busines
• Occupational Plan describes in detail how your business will operate
• Start Up Plan- explains why you chose the business frame and location
• Start Up Plan- Includes diagrams of production or areas of service 

What does the area of Background research or History explain? 

• Describes yourself and what experiences you bring to the venture
• describes the customers basis that the product will suit 
• Includes the address of the business and the owner's contact information
• It includes all of the above

What are the advantages of creating a business plan?

• It allows the entrepreneur to focus on what they want to accomplish
• Allows the process they will take to do it become simple and easy
• Allows them to accomplish their desired task
• All of the above

Where do you state the vision for the company, how much money you need, and how you hope to pay the money back well as the opportunity?

• Executive Summary
• Financial Plan
• History
• Table of Contents