Business Plan Writing Quiz

What is the first step in writing a business plan according to the Forbes guide?

• Brainstorm an Executive Summary

• Conduct Market Research

• Create Financial Plans

• Describe Your Services or Products

Which section of a business plan includes the business's registered name and address?

• Executive Summary

• Company Description

• Market Research

• Financial Plans

What should be included in the business goals section of a business plan?

• Only marketing goals

• Both financial and intangible goals

• Only intangible goals

• Only financial goals

Which of the following is NOT a cost to consider in the financial plans section?

• Unanticipated Costs

• Marketing Costs

• Employee Personal Expenses

• Operational Costs

What is the purpose of conducting market research in a business plan?

• To set intangible goals

• To outline the company's history

• To show expertise and competitive advantage

• To determine the company's registered name

What is a common mistake in writing a business plan?

• Using complex sentence structures

• Having too many goals

• Including too many financial details

• Grammar errors or misspellings

Which section of the business plan should include patents or trademarks?

• Market Research

• Services or Products Description

• Company Description

• Executive Summary

What is the role of an executive summary in a business plan?

• To outline the company's goals

• To provide detailed financial data

• To describe the company's history

• To grab investors' attention with basic facts

Which of the following is a key component of a simple business plan?

• Clear and direct information

• Complex financial projections

• Extensive historical data

• Detailed market analysis

What should be the focus when describing services or products in a business plan?

• The company's registered name

• The executive summary

• The competitive advantage in the market

• The company's history