Objectives
- Explain the purpose of a business plan.
- Discuss the two primary reasons for writing a business plan.
- Describe who reads a business plan and what they’re looking for.
- Explain the difference between a summary business plan, a full business plan, and an operational business plan.
- Explain why the executive summary may be the most important section of a business plan.
- Describe a milestone and how milestones are used in business plans.
- Explain why its important to include separate sections on a firm’s industry and its target market in a business plan.
- Explain why the “Management Team and Company Structure” section of a business plan is particularly important.
- Describe the purposes of a “sources and uses of funds” statement and an “assumptions sheet.”
- Business Plan
- A business plan is a written narrative, typically 25 to 35 pages long, that describes what a new business plans to accomplish.
- Dual-Use Document
- For most new ventures, the business plan is a dual-purpose document used both inside and outside the firm.
Types of Business Plans
