Business Plan

Why is it important to have a business plan?

• To identify opportunities and risks in the future

• It is not very important

• To appear professional

Why conduct market research?

• To network with other businesses

• To keep the Marketing Dept. busy

• To identify what customers want/need

"People don't know what they want until you show it to them" - Who said this?

• Bill Gates

• Steve Jobs

• Elon Musk

What company failed to do Market Research and capitalize on the invention of the Smart Phone?

• Apple

• Samsung

• Nokia

What is Marketing?

• Connecting the business with customers

• Buying products from a different country

• Investing in Research & Development

What is the biggest advertising medium of the 21st Centure

• Newspaper

• Mobile Internet

• Radio

• Television

What was the most popular advertising medium in the 1900's?

• Internet

• Radio

• Television

• Newspaper

Which form of Finance is most risky for a business?

• Debt

• Equity

Which form of Finance is most risky for an investor?

• Debt

• Equity

What form of financing is best for a self-driving car start-up company?

• Debt

• Equity