Business Plan Flashcards
is a written document prepared by the entrepreneur that describes all the relevant external and internal elements involved in starting a new venture
business plan
for a ______, it is important to address both long-term as well as short term strategies for the first 3 years.
for a start up, it is important to address both __________ as well as ________ ________ for the first 3 years.
for a startup, it is important to address both long-term and short-term strategies for the first ____________
3 years
the business plan is sometimes referred to as as
game plan or road map
questions that the business plan answers
- where am i now?
- where am i going?
- how will i get there?
these are people that require or request a business plan
potential investors, suppliers, customers
the business plan should be prepared by
the entrepreneur
they are useful in the preparation of the business plan
lawyers, accountants, marketing consultants, engineers
some of the needed resources can be found through services offered by:
- small business administration (sba)
- senior corps of retired executives (score)
- small business development centers (sbdcs)
the ________ also provides a wealth of information as well as actual sample templates or outlines for business planning
internet
before committing time and energy to preparing a business plan, the entrepreneur should do a ________________ to see whether there are any possible barriers to success
quick feasibility study of the business concept
the information, obtainable from many sources, should focus on
marketing, finance, and production
before beginning toe feasibility study, the entrepreneur should ________________
clearly define the goals and objectives of the venture
name the parts of the upside-down pyramid approach to gathering market information
- general environmental and demographic trends
- national food industry trends
- local environmental and demographic trends
- local food industry trends
- local competition strengths and weaknesses
2 types of a business plan
short plan, comprehensive plan
other name for short term plan
abbreviated business plan
presents only the most important issues and projection for the business
short plan
for short plans, it is typically in the form of _______________________
ppt presentations not more than 30 minutes
provides an in-depth analysis of the factors that will determine the firm’s success or failure, along with the underlying assumptions
comprehensive plan
the first page a banker or investor sees. it should be structured neatly and appealing to your intended audience
cover page
content of the cover page
- company name, address, phone number, fax number, website
- tagline and company logo
- name of contact person with info
- date on which the business plan was prepared
- confidential and proprietary statement
- disclaimer
-number of the copy
statement that denies something specially responsibility, it delinits the scope of rights
disclaimer
to help keep tract of how many have been given out
number of the copy
a sequential listing of the sections of plan, with page numbers; allows the reader to spot-read the plan rather than reading it from front to back
table of contents
