Business plan

Ignoring competition is a mistake you should avoid making when creating your business plan.

• True
• False

Target Customers are those least likely to buy products and services.

• True

• False

What should the  aspect of the company description include?

• diagrams, photographs
• vision and mission statement
• back up description of the target market, why your idea will be successful and capture the market and why the opportunity is present
• all of the above

What does a mission statement do?

• describes the company

• tells your business concept

• reflects the purpose of the company

• tells the major goals of a business

A business plan is a written document that describes all the steps necessary for opening and operating a successful business.

• True
• False

It isn't necessary to include the location of your business in your business plan.

• True
• False

Why should someone looking to start a business make a business plan?

• Obtain Financing
• Makes you think think about all aspects of your business
• Helps you communicate your ideas to others
• All of the above

A business plan is a written description of a new business venture that describes all of the business

• aspects or areas

• products

• goals

• strategies

A business plan is used by...

• customers to decide if they want to buy something

• employees to see if they want to work there

• investors to see if they want to invest in the business

• All of the answers are correct

Writing a business plan

• is a quick and easy process
• is quick but difficult
• requires patience, research, thought, and time
• none of the above