Ch. 5: Business Plan Feasibility Analysis (Figure 5.1 Pg.108) – Process used to determine the initial feasibility of an idea – Helps the __________decide if the business has potential Demand Business Conditions

Ch. 5: Business Plan Competitive ________(Figure 5.2 Pg.110) – Organizing important information about the __________ Competitors – Direct/Indirect _________– Target Customer of Competitors Benefits – Note Features…__________ point of view Distribution – How Benefit is delivered __________/Weaknesses – Of Competitors

Ch. 5: Business Plan Business Plan – Document that presents a __________and detailed picture of the new business and strategy to launch that business

Ch. 5: Business Plan – Required Sections Title Page and Table of Contents Executive Summary Company Description Vision/Mission Statements Management Plan Product/Service Plan Market Analysis Competitive Analysis Marketing Plan Operational Plan Organizational Plan Financial Plan Growth Plan Contingency Plan

Ch. 5: Business Plan Title Page – Company _________and __________ – Owner’s Names Table of Contents – Each Section Easily Identifiable

Ch. 5: Business Plan Executive Summary – Brief explanation of the key points contained on a business plan – __________the reader to read the plan – Include the most important information – No more than _____ pages – What __________is the business addressing and what is the evidence that supports the business’s ability to address the problem

Ch. 5: Business Plan Company Description – Basic Business Concept __________, __________, and Type of Business – Describes the Business __________and why the Business will Succeed

Ch. 5: Business Plan Vision and Mission Statements – __________– Establishes the scope and the purpose of the company and reflects its __________and ____________ Keep it Broad – Stand Test of Time – __________– Expresses the __________aspirations of a company, the major __________for which it will strive

Ch. 5: Business Plan __________Team Plan – You and Your Partner(s) Qualifications Why you are capable of executing your business plan What is your expertise? How will you fill experience gaps? Product/Service Plan – Explain your __________/__________ – __________/__________ of your Product/Service Later Spinoffs?

Ch. 5: Business Plan Market Analysis – __________and __________Data used to Identify your Customer – Helps in determining Sales and Marketing __________ – Analyzes Customers and the Possible Competition Use your Market Research

Ch. 5: Business Plan Competitive Analysis – States your __________over the __________ – Data from your Competitive Matrix – __________Analysis (See Page 318) Strengths and _________– __________ __________and Threats - __________

Ch. 5: Business Plan __________Plan – How will you make your customers aware of your product/service What forms of marketing will you use – Print or Broadcast? Where will your marketing take place and why?

Ch. 5: Business Plan Operational Plan – The Businesses process of __________and delivery of the product/service How does your product get made? – Distribution Channel How does your product __________ your customers? Where are you located?

Ch. 5: Business Plan Organizational Plan – The management __________of your business – Roles of the Partners Who does what and why – Compensation Do you all get paid evenly? Do you earn a salary or portion of sales?

Ch. 5: Business Plan Financial Plan – What are your start up __________ Are these one time costs or reoccurring (How frequently) – Forecast for Business What are your projected sales? Justify your projections

Ch. 5: Business Plan Growth Plan – Can the Business Expand? – Are there __________to expansion? Contingency Plan – __________for the business not __________ Changing __________conditions Lower than expected sales

Ch. 5: Business Plan Common Mistakes in Creating a Business Plan – ____________Growth Levels – Be Conservative – Trying to Do Everything – Know Your __________and where you need Help – Claiming Performance that __________Industry Average – Understanding Need for __________