1. Introduction to Entrepreneurship
Business Plan Vocabulary

2. Entrepreneurship
Cover Letter A letter that introduces and explains an accompanying document or set of documents

3. Entrepreneurship
Harvest Strategy (Exit Strategy) The way an entrepreneur intends to extract, or harvest, his or her money from a business after it is operating successfully.

4. Entrepreneurship
Pro Forma Financial Statement A financial statement based on projected revenues and expenses

5. Entrepreneurship
Executive Summary A short restatement of the report, intended to capture the interest of its readers

6. Entrepreneurship
SCORE Service Corps Of Retired Executives More than 11,000 retired executives who volunteer their time to provide entrepreneurs with real world advice and know how

7. Entrepreneurship
Mission Statement A written declaration of an organization's core purpose and focus that normally remains unchanged over time

8. Entrepreneurship
SBA Small Business Administration Interdependent agency of the federal government created to help Americans start, build and grow businesses by providing aid, counsel and financial assistance

9. Entrepreneurship
Trade Association Organizations made up of professionals in a specific industry

10. Entrepreneurship
Chamber of Commerce Community organization offering assistance and information to entrepreneurs on trends affecting local businesses, local resources, zoning and licensing information

11. Entrepreneurship
SBDC Small Business Development Centers Provides management assistance through counselors who provide free one-on-one assistance in developing a business plan

12. 5 Basic Elements of a Business Plan
Entrepreneurship
5 Basic Elements of a Business Plan
Introduction
Marketing
Financial Management
Operations
Concluding Statement

13. Entrepreneurship 5 Most Common Mistakes in a Business Plan
Unrealistic Financial Projections
Undefined Target Market
Poor Research
Ignored Competition
Inconsistencies in the Business Plan