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WorksheetsBusiness Plan basics
Total questions: 25
Worksheet time: 13mins
The main purpose of a business plan is to communicate to potential investors/partners/banks how your business is running, what the company is selling, who it is selling it too, and if your company is profitable/how long it will take it to become profitable.
True
False
After the cover page and table of contents, what should be the first thing written in your business plan
Executive summary
Marketing plan
Organizational Hierarchy
Operating plan
The Executive summary serves what purpose in the business plan?
A list of the executive board memberst
A brief overview of what is in the business plan
A list of all competitors
A comprehensive list as to who your chosen demographics are
When talking about the opportunity in your business plan you are talking about what?
The threats to your business
The time spent acquiring resources
What niche your company can fill
How much money you will make
A market focus is concerned with targeted demographics?
True
False
When calculating your expected returns what factors do you need to consider
Cost of goods sold
Revenue
Taxes
All of the above
How should a mission statement be worded?
It should explain in detail how what the companies goals and aspirations are
It should indicate what the company is looking to accomplish in the next year
It should sound good but not really reflect what
It should clearly and concisely express the companies core mission in one or two sentences
A sole proprietorship has how many owners?
10+
5-9
2-4
1
Why would potential investors care about your companies management team and company history?
They don't
They will only ever invest in people that have at least 20+ years of experience
It gives them information that shows why the company might be successful
It gives them detailed knowledge of the facilities that they would be investing in
Which of these would not be considered a location or facility for a business or company?
Your personal home
A warehouse where inventory is kept
The location where your server farm is located
The brick and motor location for your offices
If you were running an accounting firm you would be selling a product?
True
False
If you were running a grocery store you would primarily be selling services?
True
False
Who would be included in key participants in a business plan?
The president of the United States
Business Partners
Your significant other
Your base level employees
The product overview should include all of the following except?
Details on your product
What it looks like/style option if applicable
All services that are listed
how the finances are secured
Net profits are how much money your company makes after taking out all extra costs.
True
False
Which of the following would be considered an indirect competitor of McDonald's?
Wendy's
Burger King
Walmart
Taco Bell
The S in the SWOT analysis stands for?
Strategy
Strengths
Surplus
Superiority
The W in the SWOT analysis stands for?
Weaknesses
Workers
Witnesses
Wins
The O in the SWOT analysis stands for?
Obligations
Outliers
Opportunities
Openings
The T in the SWOT analysis stands for?
Technology
Team Members
Time Constraints
Threats
Marketing refers to how you advertise to potential customers.
True
False
There are only 5 types of marketing.
True
False
What is the most common form of payment in today's world?
Check
Cash
Credit/Debit Cards
Barter
Technology is not that important in today's business environment.
True
False
A threat to a business would be considered an internal problem.
True
False
