Ch3 - Why a BP is important: Entre

Which is not one of the 5 mistakes in business planning?

• unrealistic financial projections

• an undefined target markets

• scouting competition

• poor research

Which description is correct for the SBA?

• centers that provide tech assistance to small businesses & prospective entrepreneurs

• a nonprofit association made up of working & retired business professionals

• an independent agency of the federal gov't that was created to provide support to entrepreneurs & small businesses

• a community college for short boys in America

Introduction, marketing, financial management, and concluding statement are 4 of the 5 basic elements of a business plan. What is missing?

• operations

• pricing

• promotions

• outsourcing

The way an entrepreneur intends to extract, or harvest, his or her money from a business after it is operating successfully is called

• a retirement plan

• an exit strategy

• a business plan

• an extraction strategy

An executive summary is

• a simple prediction of future sales

• a summary written by an executive

• a letter to an investor

• a short restatement of the report

An executive summary should be written _______, but displayed _______ in the business plan.

• first , last

• last , first

The SBDC (Small Business Development Centers) provides what type of assistance?

• financial

• technical

• operations

• management

When researching, you can either use:

• recyclable & intangible resources

• print & recyclable resources

• online & print resources

• online & intangible resources

organizations made up of professionals in a specific industry is known as

• trade associations

• SCORE

• SBA

• professional associations

A appendix is optional in a business plan.

• True

• False