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Exploring the Business Plan

QuestionAnswer
business plan a proposal that describes a new business. It is presented to potential investors and lenders
Executive summary a brief description of the key points of the business plan. It should be no longer than two pages and should include the most important information from each section of the business plan.
Product/service plan presents the product or service you are offering, the nature of your business, the unique features of the product/service, and additional products or services that may be offered once the business becomes established.
Management team plan presents the qualifications of the entrepreneurs involved in the business venture. If there are areas of expertise missing, a plan must be shown for solving that problem; describes an advisory board that will assist in getting the business started.
Industry/market analysis This section analyzes the customers, the competition, and the industry in addition to demographic, geographic, and economic data.
Operational plan This section includes all processes involved in producing and/or delivering the product or service to the customer. It may include product development and channels of distribution.
Organizational plan includes the management philosophy of the business, the legal form of the company, key management personnel, and key employment policies.
Marketing plan describes how the business will make its customers aware of its products or services. includes: market being served, pricing policy, company image, marketing strategies that will be used to reach the customer, a promotional plan, and a marketing budget.
Financial plan This section includes financial statements that will help forecast the future financial health of the business.
Growth plan The growth plan presents plans for future expansion of the business.
Purposes of a Business Plan 1. To obtain financing. 2. To serve as a living guide to the business. 3.To provide a start-up blueprint.
Created by: mrsljohnson
 

 



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