Business Plan Flashcards
What is a Business Plan?
an outline of what a business will do, and how it aims to do it.
Why do you need to put your Personal Details in your Business Plan?
Financial Backers will want to know who they are trusting with their money.
What is the Mission Statement?
broad aims of the company. Usually something general and obvious.
Why are Objectives included in Business plans?
to see how you will achieve your aims.
What is Product Description?
details of the market and competitiors. Unique selling point.
What is Production details?
how firm will make its product or provide its service. List all equipment and location.
What is Staffing Requirements?
what personell will be needed. how many people, job descriptions, expected wage bill.
What is Finance in a business plan?
how much money is needed to start up.
What are Drawbacks of a business plan?
time and money
unrealistic plan, leading to problems
