Fill in the blank: The ________ section of a business plan breaks down which tools will be used and how a business will keep track of its raw materials and products.
Inventory Management.
Give me two reasons why you should have a business plan.
1: Secure funding. 2: help others (partners, employees, etc.) see your vision.
True or false: Only new businesses need a business plan.
False
What section of a business plan would include information on your organization's hierarchy, team members, and their roles,
Organizational Structure.
Fill in the blank: A _______________ is a document that outlines a company's goals and how it plans to achieve them.
business plan
What section of the business plan provides a brief introduction to the company's mission and the problems its products/services will solve
Executive Summary
Give me 3 examples of different legal structures that a business may utilize
Sole proprietorship, partnership, corporation, etc.
What should be communicated in the business model section of a business plan
A breakdown of how revenue will be generated (E-commerce, subscription-based, etc.)
What should be included in the "Locations" subsection of the Company Description
Breakdown of the locations where the business will operate
In the Products and Services section, what should be provided alongside each product
A brief description.
Give me an example of a geographical target market
Answers will vary.
What are 3 examples of demographic information that should be included in your market analysis
Age, Gender, Income Level, Education Level, Family Size.
What does the "Industry Trends" subsection of Market Analysis cover
Current trends in the industry within the target market and their effect on the business.
What P under your marketing strategy describes where the product will be sold
Place.
In the marketing strategy section of your business plan, what section/P breaks down the amount you will charge customers for your product or service
Price.
Which section/P of your marketing strategy outlines how products/services will be promoted
Promotion.
