Business Technology Mr. Bernstein DECA, pp 30-35: Elements of a Business Plan October 16, 2013

Business Technology Mr. Bernstein Business Plan Critical document that describes all aspects of the business venture 1)Business Description 2)Organizational and Marketing Plan 3)Financial Plan The plan outlines the purpose of the business, guides decisions, and may be instrumental in obtaining capital 2

Business Technology Mr. Bernstein Business Description Type of business and statement of purpose Business Philosophy Types of Products Self-Analysis – Personal strengths and weaknesses Geographic “Trading” Area Market Segment Analysis Potential Locations 3

Business Technology Mr. Bernstein Organizational and Marketing Plan Type of Ownership Start-Up Steps Planned Personnel with Job Descriptions Marketing Plan – the Four P’s: Products (also in Business Description) Pricing Place (also in Business Description) Promotional Activities 4

Business Technology Mr. Bernstein Financial Plan Capital Requirements Sources of Capital Projected Income and Expenses Repayment Plan 5

Business Technology Mr. Bernstein Common Mistakes in Business Planning Undefined Target Market Poor Research Ignored Competition Unrealistic Financial Projections Inconsistencies within Plan 6