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True or false: Business plans should all be identical and follow the exact same layout.
False
Where in a business plan should you list information about competitors within your geographical target market
Market Analysis.
What 2 projected financial statements should be created and included in the financial plan section of your business plan
Projected income statement and balance sheet.
What subsection under your operations strategy breaks down product inspections, testing, etc.
Quality Control.
What does the "Distribution/Shipping" subsection of Operations Strategy cover
How products/services will be distributed and shipped.
In the operations strategy section, what does the "Manufacturing" subsection detail
Manufacturing strategy, such as outsourced, in-house, etc.
In the operations strategy section of your business plan, what should be listed in the "Suppliers" subsection
List of suppliers needed for raw materials or products.
What are two things that should be considered when creating a sales strategy for your business plan
Direct or indirect and inside or outside sales.
Which section/P of your marketing strategy outlines how products/services will be promoted
Promotion.
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.
What P under your marketing strategy describes where the product will be sold
Place.
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 are 3 examples of demographic information that should be included in your market analysis
Age, Gender, Income Level, Education Level, Family Size.
Give me an example of a geographical target market
Answers will vary.
In the Products and Services section, what should be provided alongside each product
A brief description.
What should be included in the "Locations" subsection of the Company Description
Breakdown of the locations where the business will operate
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.)
Give me 3 examples of different legal structures that a business may utilize
Sole proprietorship, partnership, corporation, etc.
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
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 a business plan would include information on your organization's hierarchy, team members, and their roles,
Organizational Structure.
True or false: Only new businesses need a business plan.
False
Give me two reasons why you should have a business plan.
1: Secure funding. 2: help others (partners, employees, etc.) see your vision.
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.
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