To complete this assignment, you first need to download the Business Plan Student Template file from the book's MyBusinessLab. This Is a Microsoft Word file you can use to complete your business plan. For this assignment, you will fill in Part 1 of the plan. In Chapter 4, we discussed how the starting point for virtually every new business is a business plan.

Business plans describe the business strategy for any new business and demonstrate how that strategy will be implemented. One benefit of a business plan is that In preparing It, would-be entrepreneurs must develop their idea on paper and firm up their thinking about how to launch their business before Investing time and money in it. In this exercise, you'll get started on creating your own business plan.

Exercise Background:

Part 1 of the Business Plan The starting point for any business plan is coming up with a ~great Idea." This might be a business that you've already considered setting up. If you don't have ideas for a business already, look around. What are some businesses that you come into contact with on a regular basis? Restaurants, childcare services, and specialty stores are a few examples you might consider. You may also wish to create a business that is connected with a talent or interest you have, such as crafts, cooking, or car repair. It's important that you create a company from scratch rather than use a company that already exists. You'll learn more if you use your own ideas.