One Size Does Not Fit All

The first step to outlining a business plan is pricing your product or service for customers who need what you are selling.

• True

• False

There are 3 steps to outlining a business plan which are:

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• having an idea for a product or service

• pricing your product or service for customers who need what you are selling

• outlining a business plan

• making a profit

There is a one-size-fits-all business plan that fits ALL businesses.

• True

• False. The trick is finding one that fits YOUR business.

Your business plan should communicate to investors, partners, and employees about what you’re going to do with your business.

• True

• False. The trick is finding one that fits YOUR business.

Your business plan should communicate:

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• Your vision

• Projected strategies

• Financial forecasts

• Profit

A business plan for businesses that have operated for a few years might:

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• outline metrics

• list tasks or deadlines

• project sales goals

• list expenses

Your business plan will always be a living document because your business will change, and your business plan should be updated to reflect those changes.

• True

• False

Business plans are designed to speak to a specific ________________ audience.

Alternative business plans offer their target audience innovative approaches that emphasize speed, flexibility, and the ability to change direction and adapt.

• True

• False

One alternative idea is to give a ________________ presentation of your business adding a human touch into your business plan and encouraging questions and answers.