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WorksheetsBusiness Planning
Total questions: 10
Worksheet time: 3mins
The primary purpose of a business plan is to define what the business is or what it intends to be over time.
True
False
Both
Mistakes to avoid when preparing a business plan include all of the following except....
wasting time on research
failing to define the target market
ignoring the competition
Why is a business plan important?
It will not help you tell others about your business
It cannot help you secure financing for your business
It can help you manage your business
What does a business plan do?
It shows how much money you will make
It describes the who, how and what you will produce
It helps reduce the risk of business failure
A marketing plan should create a demand for the ________________ you want to offer.
products or services
things and activities
none of these
When starting a business, it is important to create the best ________________, one that is easily understood by investors and lenders.
business person
business plan
business location
An entrepreneur should know who their ________________ is, that is the company that is selling products similar to theirs.
services
employees
competition
There are ___________________ primary parts to a business plan.
Three
Four
Two
The purpose of including supporting documents in a business plan is to......
make the plan lengthy
explain your business idea
give the readers more information than they might need
Why do you need a business plan?
To explain your idea
It’s a guide that sets objectives and goals for the business
To help reduce the risk of business failure
