1. Lesson 3.3 How to Create an Effective Business Plan
Goals
Describe resources available for researching your business plan.
Name common mistakes to avoid in business planning.
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2. Terms Small Business Administration (SBA)
Small Business Development Centers (SBDC)
Service Corps of Retired Executives (SCORE)
trade associations
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3. Research the Business Plan
Most entrepreneurs spend 50 to 100 hours developing their business plan.
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4. Community, Government, and Professional Resources
Small Business Administration (SBA)
an independent government agency
helps Americans develop new businesses
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5. Small Business Development Centers (SBDC)
a cooperative effort of the private sector, the educational community, and federal, state, and local governments
provides free, individualized help for business plan development for those who cannot afford a private consultant
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6. Service Corps of Retired Executives (SCORE)
retired executives provide free, confidential advice to entrepreneurs
either in person or over the Internet
both short-term and long-term assistance is available
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7. Chamber of Commerce Trade Associations
provides information on local business trends
Trade Associations
organizations that are comprised of professionals in a specific industry
provide educational and networking opportunities
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8. Professional Consultants
experts who will provide business assistance for a fee
Financial Institutions
Bankers and Accountants can provide information about loans and financial statements.
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9. Print Resources
library
magazines
government documents
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10. Online Resources Provide information similar to library information
Industry specific websites
Websites targeted to entrepreneurs and small business owners
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11. What are some of the resources that are available to help you develop your business plan?
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12. Mistakes in Business Planning
Avoid making the following mistakes:
Unrealistic financial projections
An undefined target market
Poor research
Ignored competition
Inconsistencies in the Business Plan
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13. List some common mistakes that are made in business planning.
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14. PERFORMANCE INDICATORS EVALUATED
Demonstrate effective communication skills.
Demonstrate skills in developing a speech using the three basic elements.
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15. Utilize non-verbal gestures as needed.
Apply speaking techniques using appropriate tempo and pitch.
Secure facts and data from multiple sources, emphasizing research skills.
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16. THINK CRITICALLY How can good speaking skills benefit an entrepreneur?
Why is research important when preparing a speech?
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17. Why should you follow copyright laws when preparing a speech?
How do the three elements of a speech contribute to its effectiveness?
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