Business Plan

A brief statement of of what the purpose of your business is, is called?

• Statement of Purpose

• Cover Letter

• Exit Strategy

• Executive Summary

A written document that describes all the steps necessary for opening and operating a successful business.

• Business Plan

• Cover Letter

• Executive Summary

• Statement of purpose

What is a short restatement of the entire report portion of a business plan?

• Executive Summary

• Cover Letter

• Exit Strategy

• Business Plan

A letter that introduces and explains an accompanying document or set of documents.

• Cover Letter

• Executive Summary

• Business Plan

• Statement of Purpose

The way an entrepreneur intends to extract his or her money from a business after it is operating successfully.

• Exit Strategy

• Cover Letter

• Business Plan

• Statement of Purpose

Business Plans are not important

• True

• False

Business Plans explains the idea behind your business and spells out how your product or service will be produce and sold.

• True

• False

Describe your products or services, and explain how they differ from those already on the market, which section of the business plan would this information be place?

• Marketing

• Financial

• Concluding Statement

• Cover Letter

Explain how the business will be managed on a day-to-day basis and discuss hiring and personnel procedures. Which area of the business plan would you place this information?

• Operations

• Introduction

• Financial Management

• Marketing

Mistakes in business planning includes making realistic financial goals.

• True

• False