Chapter 3 - Develop a Business Plan

Front

What is a business plan?

Back

Written document that describes all the steps necessary for opening and operating a successful business.

Front

Why do you need a business plan?

Back

To explain your idea, the ability to get financing, it's a road map that sets objectives and goals for the business, To help reduce the risk of business failure.

Front

Complete the sentence: A business plan...

Back

can serve as a tool for helping a business during the startup phase and for managing your business once it is up and running.

Front

A potential business owner’s qualifications and those of any partners

Back

Management Team

Front

A brief account of the key points contained in a business plan

Back

Executive Summary

Front

Describing how you came up with the idea for your business can help others understand how your business will operate.

Back

True

Front

Writing a business plan can force entrepreneurs to think about their goals.

Back

True

Front

A handwritten business plan is acceptable if it is neat, well organized, and inviting to read.

Back

False

Front

The marketing section of your business plan should describe the location of your business.

Back

True

Front

Your business plan should describe the location of your business because

Back

location is often a critical factor in a business's success