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Business Plans

Key Terms from the background reading

QuestionAnswer
business plan A comprehensive document thoroughly describing the business to be undertaken.
key personnel Usually the entrepreneur, any partners, and the first level of personnel reporting directly to the president/CEO.
operations The daily processes and people needed for the business to function in a manner that satisfies customers.
pro forma statements Forward-looking financial statements that predict the future performance of the company.
differentiate To distinguish your business from competitors by offering novel or distinct goods, services, or prices.
price The amount you charge customers for your goods or services.
product A tangible (physical) item that you sell to customers.
service An intangible (nonphysical) offering that you provide to customers.
SWOT analysis A type of competitive analysis focusing on strengths, weaknesses, opportunities, and threats.
Created by: scotts.moore
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