Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare a 1 - 2-page outline of your business plan. Eventually, this outline will become the table of contents for your final plan. BUSINESS PLAN

Prepare a 1 - 2-page outline of your business plan. Eventually, this outline will become the table of contents for your final plan.

BUSINESS PLAN PLANNING WORKSHEET

Conceptualize Identify a problem What businesses are Target Audience Differentiation Strategy the business solves currently addressing the Demographics issue

(Ideas) (Research) (Competitive Analysis) (Consumer (Create/innovate) Characteristics)

_________________ __________________ ___________________ ____________________ ________________________

_________________ __________________ ___________________ ____________________ ________________________

_________________ __________________ ___________________ ____________________ ________________________

Operational Needs Financial Needs HR Needs Technological Needs Legal/Licensing/Insurance

(Procedures/Processes/ (startup & operational) (Management/Employees) (Communication/Software) (Industry Requirements) Equipment) _________________ __________________ ___________________ ____________________ ________________________

_________________ __________________ ___________________ ____________________ ________________________

PURPOSE A BUSINESS PLAN SERVES

A business plan serves many purposes, but the primary intent is to:

  • Identify market needs and how the company plans to fulfill those needs.
  • Identify target audience demographics.
  • Explain the competitive environment and major industry players.
  • Identify the business needs:
    • Raw Materials
    • Production Requirements
    • Capital
    • HR Resources
    • Technological: Hardware/Software
  • Communicate the goals of the business.
  • Communicate how the company plans to meet its goals & objectives.
  • Communicate how likely the business is to succeed - Supported by research.
  • Communicate contingency plans to prevent losses:
    • As a result of new players entering the market
    • As a result of crisis (e.g., natural disaster, accidents, etc.)
    • As a result of an economic downturn
  • Communicate differentiation strategies.
  • Communicate market and selling strategies.
  • Communicate anticipated return-on-investment (e.g., shareholders/lenders)
    • How do you plan to ensure investments are safe and have real potential for growth?
    • How will you guarantee lenders that you are a good financial risk?

ALSO,Problem/Purpose Statement - Explain the need for the business and how you plan to address the need.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Rethinking Prestige Branding: Secrets Of The Ueber-Brands

Authors: Wolfgang Schaefer, J P Kuehlwein

1st Edition

0749470038, 9780749470036

More Books

Students also viewed these General Management questions

Question

3. What values would you say are your core values?

Answered: 1 week ago