Business Plan Canvas

What is a business plan?

• Written document that only outlines the business practices of the new business.

• Written document that describes the financial aspects of the business.

• Written document that only describes the ownership of the business.

• Written document that describes all the steps necessary for opening and operating a successful business.

What is one of the primary purposes of creating a business plan?

• To outline your business idea

• To secure funding from investors

• To establish a strategic direction for the business

• To minimize the chances of business failure

• All of the above

Elijah, Anika, and Samuel are evaluating their startup's position in the market. Which analysis will help them understand their competitive edge?

• Growth Plan

• Competitive Analysis

• Contingency Plan

• Market Analysis

How will Isla's new bakery make customers AWARE of its products/services

• Marketing Plan

• Industry Overview

• Product and Service Plan

• Market Analysis

Abigail and Isla are planning to start a new business. Which section of their business plan should detail their qualifications and those of any partners?

• Company Description

• Management Team Plan

• Growth Plan

• Executive Summary

What section outlines the details of the goods or services provided?

• Financial Plan

• Executive Summary

• Product and Service Plan

• Market Analysis

Lily, Mia, and Sophia are evaluating the demographics and preferences of their target audience for their new business. What is this process known as?

• Market Analysis

• Marketing Plan

• Mission Statement

• Growth Plan

A thing that you can touch or a service that you can offer which is sold to your customers

• problem

• product

• solution

• key metrics

Isla is starting a new business and needs to identify her target customers. Who does she want to help?

• unique value proposition

• competitive advantage

• customer segments

• key metrics

Henry is analyzing his startup's performance. This gives him the numbers or stats, which allows him to see how well his business is going.

• key metrics

• customer segments

• solution

• revenue