Entrepreneurs & Business Plans

What is an Entrepreneur? Person who organizes, operates, and assumes the risk for a business venture. Famous American entrepreneurs: Henry Ford Dave Thomas Milton S. Hershey Bill Gates Steve Jobs

What is a Business Plan A series of documents that serves as a blueprint for building a business. Information included in a business plan: Information about the business The industry in which it competes Its products and/or services Its customers Its competitors, and its finances

Primary Functions of a Business Plan To set goals and objectives for the business to follow. To attract potential investors To acquire financing To attract quality employees To attract potential customers

Characteristics of a Good Business Plan Neat Organized Professional Well-written and well-designed Highlight important aspects of the business

Who said it? “High expectations are the key to everything.” “Timing, perseverance and 10 years of trying will eventually make you look like an overnight success.” “Failure defeats losers, failure inspires winners.”

What are the characteristics of an entrepreneur?