1 / 7

Develop a business plan

Develop a business plan. Why do you need a plan?. Writing everything down on paper will help you visualize all the aspects of your business It will help you convince banks and other potential investors to invest in your idea. What is a Business Plan?.

yen
Download Presentation

Develop a business plan

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. Develop a business plan

  2. Why do you need a plan? • Writing everything down on paper will help you visualize all the aspects of your business • It will help you convince banks and other potential investors to invest in your idea

  3. What is a Business Plan? • A written document that describes all the steps necessary in opening your business • Describes what your business will produce, how you will produce it and who will buy your product/service • Explains who will run your business • Explains who will supply your business • States how you will attract customers • Provides detailed financial information of how your business will earn a profit

  4. Purpose of a Business Plan • Explains the idea behind your business and spells out how your product or service will be produced and sold • Sets specific objectives and describes how your business expects to achieve them. For example: sales projections for the first 5 years or expansion projections • Describes the backgrounds and experience of the people who will be running the business.

  5. Class activity What types of people would you need to help you run each type of business: • Roofing company • Accounting firm • Restaurant • Hair salon • Automotive shop

  6. Why is a Business Plan important? • A business plan makes you think of all aspects of a business • A business plan may help you secure financing for your business • A business plan helps you communicate your ideas to others • A business plan can serve as a tool for managing your business

  7. You try! You are starting a business or buying an existing one. Write a paragraph explaining the idea behind the business. Explain how you plan on marketing your product or services (how will your customers know what you sell and how will you find out who your customers may be)

More Related