CrtBussStartUp U4: DEVELOPING A BUSINESS PLAN

What is one of the early stages for any start-up?

• Hiring employees

• Preparing a business plan

• Launching a marketing campaign

• Securing a location

What does a business plan provide for the future operation of the business?

• A marketing budget

• A plan for how the business will operate

• A list of potential clients

• A schedule for product launches

How does a business plan help in managing cash flow?

• By eliminating the need for cash flow forecasts.

• By providing actual figures to compare with forecasts.

• By ensuring constant cash inflow.

• By reducing expenses automatically.

What role does a business plan play in setting priorities?

• It identifies which activities need to be done first.

• It removes the need for prioritization.

• It focuses only on marketing strategies.

• It guarantees all activities are equally important.

How can a business plan help in developing accountability?

• By assigning responsibility for each area.

• By removing individual responsibilities.

• By focusing only on profits.

• By ignoring team roles.

What should be included in the 'Products and services' section of a business plan?

• A list of competitors

• Features of the products and services

• Financial projections

• Employee details

Why is the 'Market' section important in a business plan?

• It describes the business location

• It explains why customers will buy from you

• It lists the business expenses

• It provides employee roles

What should be included in the 'Market research' section?

• Employee training programs

• Size and type of market accessed

• Office furniture details

• Company mission statement

What should you explain in the operations and resources section of a business plan?

• How you will make or buy goods and supply services

• The history of your business

• Your personal hobbies

• The color scheme of your office

What is one aim of most businesses?

• To support the business owner

• To expand globally

• To win awards

• To create a large social media following