Business Plan Essentials

The main purpose of a business plan is to communicate to potential investors/partners/banks how your business is running, what the company is selling, who it is selling it too, and if your company is profitable/how long it will take it to become profitable.

• True

• False

After the cover page and table of contents, what should be the first thing written in your business plan

• Executive summary

• Marketing plan

• Organizational Hierarchy

• Operating plan

The Executive summary serves what purpose in the business plan?

• A list of the executive board memberst

• A brief overview of what is in the business plan

• A list of all competitors

• A comprehensive list as to who your chosen demographics are

When talking about the opportunity in your business plan you are talking about what?

• The threats to your business

• The time spent acquiring resources

• What niche your company can fill

• How much money you will make

A market focus is concerned with targeted demographics?

• True

• False

When calculating your expected returns what factors do you need to consider

• Cost of goods sold

• Revenue

• Taxes

• All of the above

How should a mission statement be worded?

• It should explain in detail how what the companies goals and aspirations are

• It should indicate what the company is looking to accomplish in the next year

• It should sound good but not really reflect what

• It should clearly and concisely express the companies core mission in one or two sentences

A sole proprietorship has how many owners?

• 10+

• 5-9

• 2-4

• 1

Why would potential investors care about your companies management team and company history?

• They don't

• They will only ever invest in people that have at least 20+ years of experience

• It gives them information that shows why the company might be successful

• It gives them detailed knowledge of the facilities that they would be investing in

Which of these would not be considered a location or facility for a business or company?

• Your personal home

• A warehouse where inventory is kept

• The location where your server farm is located

• The brick and motor location for your offices