Business Plan Basics

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

Why do you need a business plan?

• To explain your idea

• the ability to get financing.

• it's a road map that sets objectives and goals for the business

• All of the above

Which of the following is it OK to leave out of a business plan?

• Executive summary

• Location

• Marketing

• Employees needed

• None of the above

It details how the proposed business will sell its product to the target consumer.

• Marketing Plan

• Financial Plan

• Organizational Plan

• Introduction

A description that provides an outline of a business

• Executive Summary

• Business Description

• Contingency Plan

• Mission Statement

A target market is a group of _______ that the _______ has decided to aim its marketing efforts and ultimately its merchandise towards.

• Companies, Business
• Companies, Research
• Customer, Business
• Business, Customer

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

If you were running an accounting firm you would be selling a product?

• True

• False

Net profits are how much money your company makes after taking out all extra costs.

• True

• False