The Business Plan

What is the most important reason for having a business plan?

• to do market research

• to help you focus on how to succeed in your new venture

• to make a checklist

• to find out what to produce in your business

What is a characteristic of the executive summary in a business plan?

• It contains details.

• It discusses how you will fill in any gaps in expertise.

• It tells the most important points of the business plan.

• It describes your service plan.

What does a mission statement do?

• describes the company

• tells your business concept

• reflects the purpose of the company

• tells the major goals of a business

Which part of a business plan describes the management and tells who will run the firm?

• Operational

• Organizational

• Financial

• Growth

Where would you find information about the type and size of business being started?

• Company Description

• Mission Statement

• Marketing Plan

What part of the business plan identifies risks that are associated with the business?

• Back Up Plan

• Contingency Plan

• Risk Analysis

What part of the business plan identifies growth and trends in a particular industry?

• Industry Overview

• Industry Analysis

• Vision Statement

A business plan should be well organized, easy to read, and in a logical...

• Location

• Font

• Format

What part of the business plan describes the product or service that you plan to offer?

• Industry Overview

• Product and Service Plan

• Competitive Analysis

What part of the business plan looks at how the business will expand in the future?

• Growth Plan

• Financial Plan

• Operational Plan