Business Plan Intro

The Market is:

• A place where people can sell their own products without a license. (Market stalls)

• The area which a business has delved into in terms of the product/service they are selling or providing.

• The customer which a product will be targeting.

What is a business plan?

• A gallery of photos that explains the location and construction of the business
• A written plan that is a description of all the aspects of the business and includes the business's goals
• A collection of plans that are combined from different business and then analyzed  and compared to your business
• none of the above are correct; a business plan is simply a list of guidelines that tell successful business's how to run their company in order to make a profit 

Refers to what you are selling, including all of the features, advantages and benefits that your customers can get.

• Price

• Packaging

• Promotion

• Product

Refers to the staff and salespeople who work for your business, including yourself.

• Positioning

• Promotion

• Place

• People

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

• Marketing Plan

• Financial Plan

• Organizational Plan

• Introduction

An entrepreneur is someone 

• Someone who works for a new business
• Someone who starts a new business
• Someone who takes over an existing business
• Someone who does not want to work

An entrepreneur must be...

• disorganized
• organized
• lazy

An entrepreneur can own an online business...

• False - entrepreneurs can only create business in person
• True - there are companies online as well as in person

A negative (drawback) of starting a sole proprietorship is...

• You have to raise ALL of the money yourself
• You make all of the decisions
• All of the profits belong to you

What challenges does an entrepreneur face?

• money

• responsibility

• paperwork

• all of the above