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Business Plan Basics

Business Plan Basics. What is a business plan?. The business plan is a tool to help you find and explore opportunities. Why develop a plan?. The process of making choices is the most important reason for anyone to learn how to write a business plan. . Basic components of the biz plan.

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Business Plan Basics

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  1. Business Plan Basics

  2. What is a business plan? • The business plan is a tool to help you find and explore opportunities.

  3. Why develop a plan? • The process of making choices is the most important reason for anyone to learn how to write a business plan.

  4. Basic components of the biz plan • Executive summary • Company overview • Marketing research • Products or Services • Marketing and sales • Financial projections

  5. Video • http://www.youtube.com/watch?v=rSCC8WCuaRs

  6. Questions to ask yourself • How can you describe the business...in only one paragraph please? • What is your product, or service? • Who will buy it? • Where should you locate the business? • How can you attract customers? • What is your competition?

  7. More questions • What advice do you need and who can provide it? • How will you organize the managers and/or workers of the business? • How will you split the profits? Who is responsible for the losses? • What should you consider to be able to produce the product and get it to the customer? • How much money is needed to get the business started?

  8. More questions • How many customers will you have per month and how much will they buy per month? • How much does it cost to make the product or provide the service? • What are your operating costs? (Include your own salary) • How much money do you need to borrow to start this business? • How will you make the business grow in the future?

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