1 / 10

Business Plan Introduction

Business Plan Introduction. BMA II. Our Goals. The student can categorize a business plan and explain the need for a well-orchestrated business plan.

tadita
Download Presentation

Business Plan Introduction

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Business Plan Introduction BMA II

  2. Our Goals • The student can categorize a business plan and explain the need for a well-orchestrated business plan. • The student can explain a marketing plan, including price competition, non-price competition, market analysis, competition, marketing research, market segmentation, demographics, and sales forecasting. • The student can research business plan outlines, resources, and templates using web search engines. • The student can identify a legal plan, including the appropriate form of legal organization, including sole proprietorship, partnership, corporation, and S corporation. • The can create and present a well-orchestrated business plan and critically explain the contents.

  3. Vocabulary • Business Plan • Sole Proprietorship • Partnership • Corporation • Executive Summary

  4. Introduction • A business plan is a proposal that describes the new business to potential investors. • Basically a detailed description of what the business is and what it will sell. • Different types of Ownership • Partnership • Sole Proprietorship • Corporation • Skills and Experience- Describe the experience and talent of those who are starting the business • Financial Plan- Detail the finances of the business • Organization – This should explain how the organization is set up. Who is in charge? How are duties divided? • Marketing Plan- How you plan on selling and promoting your service or product. Where and to whom will you sell to?

  5. Ownership/Legal Structure • The legal structure of the business will fall into one of four categories and should be explained in the business plan. • Sole Proprietorship- One person owns the company • Partnership – Two or more people own the company • Corporation- Business is a separate legal entity. Least Liability for owner’s personal assets

  6. Marketing • Products/Service • Describe in detail • Market • Demographics- segmenting the market by statistics such as age, race, gender, education, marital status, etc • Geographic- segment the market by location, and product benefits are segmented by certain features or products that the customer is seeking. • Psychographics- segmenting the market by interests or hobbies, such as gourmet cooking or sports • Product Benefits- how does it benefit your target market. • Competition • Who, what, and where • Location • Where will your business be located and why did you choose that location?

  7. Financial Management • Identification of Risk • Human • Natural • Economic • Financial Statement • Income statement • Balance sheet • Cash Flow

  8. Risk Management • Business Risks are the possibility of business loss or failure. There are three types of business risks. • Economic- occur from changes in the overall business conditions • Type or amount of competition • Product obsolescence • Government Regulation • Natural • Human • It is very important for businesses know their strengths and their weaknesses.

  9. Operations • Critical for business success • Management on a day-to-day business • Necessary equipment • Personnel needed for success

  10. Executive Summary • Summarize goals objectives for the business • Emphasize your commitment to the success of the business

More Related