Business Plan/Financial

What is a business plan?

• Written document that only outlines the business practices of the new business.

• Written document that describes the financial aspects of the business.

• Written document that only describes the ownership of the business.

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

How a company will make customers aware of its products/services

• Marketing Plan

• Marketing Plan

• Product and Service Plan

• Investor Plan

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

• Company Description
• Management Team Plan
• Growth Plan
• Executive Summary

A brief outline of a business to help investors

• Company Summary

• Company Description

• Management Plan

• Mission Statement

A plan presenting financial forecasts for the business

• Cash Statement

• Financial Plan

• Financial Description

• Investor Plan

The specific aspirations of a company, the major goals it will try to reach.

• Vision Statement

• Company Description

• Mission Statement

• Management Plan

Who would be interested in seeing the business plan of a new company?

• Customers

• Potential investors

• The owners of the company

• Banks/ potential lenders

• Students

When should a business plan be normally updated?

• Every day

• A month after the business starts

• Once a business adjusts its aims/objectives

• Every week

Which of the following are key parts of a business plan?

• Company Description

• Organizational Structure

• Marketing Plan

• Financial Plan

• Management Plan

Beliefs and values that the company has

• Mission Statement

• Description

• Vision Statement

• Planning