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What is a Business Plan And How to Create One. BUS 101 Introduction to Business. A Business Plan is…. a document that identifies the goals of your proposed company and explains how they will be achieved a blueprint for a proposed company. Purposes of a Business Plan.

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what is a business plan and how to create one

What is a Business PlanAnd How to Create One

BUS 101 Introduction to Business

a business plan is
A Business Plan is….
  • a document that identifies the goals of your proposed company and explains how they will be achieved
  • a blueprint for a proposed company
purposes of a business plan
Purposes of a Business Plan
  • Describes how you will build your business
  • Includes ideas about how you intend to make it strong
  • Lists your financing plans
sources for business ideas
Sources for Business Ideas

Previous

Experience

Hobbies

Industry

Experience

ownership options
Ownership Options
  • Start from Scratch
  • Buy an Existing Business
  • Buy a Franchise
business plans include
Business Plans Include:
  • Business Concept
  • Management Qualifications
  • Legal Form Of Business
  • Explain Goods/Services
  • ID Customers/Competitors
  • Product Development
  • Production Methods
  • Marketing
  • Projected Profits & Borrowing Needs
benefits of a business plan
Benefits Of a Business Plan
  • Forces You To Think Critically
  • Reduces Risk
  • Analyze the Concept and Industry
  • Helps persuade Investors & Lenders
planning strategic decisions
Planning Strategic Decisions
  • Management
  • Staffing
  • Production
  • Marketing
  • Finance
executive summary
Executive Summary

A brief concise statement

Often a 1-3 Page Overview

Most Important Part

Used in decision-making by managers

Written as a summary after the plan is completed

description of business
Description Of Business

What will we do?

What goods/services will be provided?

How are we unique?

How do we sell ourproduct?

Where is our location?

Who are our customers?

industry analysis
Industry Analysis

Industry Players?

Industry Outlook?

Industry Projected Sales?

Factors of Expansion Or Contraction?

Affect of Future Economic Conditions?

mission statement core values
Mission Statement & Core Values

Mission Statement - Purpose or mission of company

Core Values -

Fundamental beliefs about what is/is not appropriate in conducting business activities, ideals

management plan
Management Plan

Member Qualifications

Education

Experience

Expertise

Legal Form

Sole Proprietorship

Partnership

Corporation

goods and services
Goods and Services

Description

Better Than Competitors

Market Needs

Competitive Advantage

development and production
Development and Production

How to Obtain/Make Product

Product Design

Design/Manufacture Technology

Own or Contract Facilities

Where to locate

What type of Equipment

Design/layout of facility

Number of Employees

How many units to produce

How to ensure high Quality

marketing
Marketing

Target Market

Pricing

Distribution

Promotion

global issues
Global Issues

Buying and Selling In Other Countries

Identify Cross- Border Challenges

How To Overcome Challenges

Strategies for the future

financial plan
Financial Plan

Cash Needs

Start-up

Operations

Funding Sources

Repay Debt

Projections

Expected Sales

Costs

Profits (Losses)

why businesses fail
Why Businesses Fail

Bad Business Idea

Cash Flow Problems

Inexperience or Incompetence

Lack of Customer Focus

Inability to Handle Growth

can you succeed
Can you Succeed?

Work Hard

Have a Unique Idea

Plan well

Execute

Have a Passion for Business

“If you fail to plan, you plan to fail”