Business Plan Flashcards
ENTREPRENEURIAL PROCESS 1
DISCOVERY
ENTREP PROCESS 2
DEVELOPMENT OF CONCEPT
ENTREP PROCESS 3
ORGANIZING RESOURCES
ENTREP PROCESS 4
IMPLEMENTATION
ENTREP PROCESS 5
REAPING OF RETURNS
A BUSINESS PLAN IS NOT?
- WRITTEN ONCE
- JUST FOR STUDENTS
- JUST FOR STARTUPS
- JUST FOR LOAN APPLICATIONS
- FOLLOWS ONE SIZE FITS ALL TEMPLATE
A BUSINESS PLAN IS A?
- FLEXIBLE
- GUIDE
- FOLLOWED AND REVISE
WHAT IS A BUSINESS PLAN?
WRITTEN DESCRIPTION OF A BUSINESS YOU WILL ESTABLISH IN THE FUTURE
BUSINESS PLANS ARE THE ____ OF YOUR PROPOSED BUSINESS.
BLUEPRINT
5 REASONS WHY YOU SHOULD WRITE A BUSINESS PLAN
- TESTS FEASIBILITY
- GIVES NEW BUZZ BEST CHANCES OF SUCCESS
- SECURES FUNDING
- MAKES SURE BUSINESS PLANNING IS MORE EFFECTIVE
- ATTRACTS INVESTORS
3 FACTORS OF A GOOD BP
- SPECIFIC
- FOLLOWED-THROUGH
- REALISTIC
WHAT IS AN EXEC SUMMARY?
SUMMARIZES DETAILS OF THE BP FOR ITS READERS
AN EXECUTIVE SUMMARY IS WRITTEN WHEN?
LAST (PARANG ABSTRACT)
CONTENTS OF A BUSINESS SUMMARY
THE BUSINESS OPPORTUNITY
DESCRIBE THE NEEDS OF THE MARKET
CONTENTS OF EXEC SUMM
TAKING ADVANTAGE FOR THE OPPT
EXPLAIN HOW YOUR BUZZ WILL SERVE THE MARKET
CONTENTS OF EXEC SUMM
THE TARGET MARKET
DESCRIBE YOUR MARKET BASED ON THE ANALYSIS
CONTENT OF EXEC SUMM
THE BUSINESS MODEL
DESCRIBE THE PRODUCT AND JUSTIFY ITS APPEALINGNESS SA MARKET
CONTENT OF EXEC SUMM
MARKETING AND SALES STRATEGY
OUTLINE OF MARKETING STRATEGY
CONTENT OF EXEC SUMM
THE COMPETITION
DESCRIBE THE STRATEGY FOR GETTING MARKET SHARE
WHAT IS YOUR COMPETITIVE ADVANTAGE
CONTENT OF EXEC SUMM
FINANCIAL ANALYSIS
SUMMARIZE FINANCIAL STATEMENTS AND PROJECTIONS
MIN OF 3 YEARS
