Intro to ent&wht_bus_plan

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Intro to ent&wht_bus_plan

  1. 1. Introduction to Entrepreneurship & What is a Business Plan? MRS. LOGAN
  2. 2. WHAT  IS  AN  ENTREPRENEUR?    •  An  entrepreneur  is  an  amazing  person  who   organizes,  operates,  and  assumes  the  risk  for   a  business  venture.  •  To  start  a  new  business  entrepreneurs  need  a   business  plan,  which  we  will  discuss  next.  
  3. 3. What  is  a  Business  Plan  and  Why  Have   One?  •  A  business  plan  is  a  series  of  documents  that   serves  as  a  blueprint  for  starJng  a  business.  •  A  business  plan  includes  informaJon  about   –  the  business   –  the  industry  in  which  it  competes   –  its  products  and/or  services   –  its  customers   –  its  compeJtor,  and   –  its  finances    
  4. 4. What  is  a  Business  Plan  and  Why  Have   One?,  cont’d.  •  Business  plans  allow  owner  to  break  down  the   process  because  it  can  be  an  overwhelming   task.  •  Business  plans  indicate   1.  current  status  of  the  business   2.  vision;  future  goals,  and  objecJves   3.  a  plan  to  achieve  the  vision  
  5. 5. What  is  a  Business  Plan  and  Why  Have   One?,  cont’d.  •  The  primary  funcJons  of  a  business  plan  are   1.  set  goals  and  objecJves   2.  aSract  potenJal  investors   3.  acquire  financing   4.  aSract  quality  emloyees   5.  aSract  potenJal  new  customers  
  6. 6. Components  of  a  Business  Plan  •  Cover  Page   •  Funds  Required  and  •  ExecuJve  Summary   Expected  Uses  •  Company  DescripJon   •  Financial  Statements  •  DescripJon  of   •  Owner’s  CredenJals   Products  and  Services      (resume)  •  Market  Analysis   •  Supplemental  •  MarkeJng  Plan   ASachments                •  OperaJng  Plan  
  7. 7. CharacterisJcs  of  a  Good  Business   Plan  •  Neat  •  Organized  •  Professional  •  Well-­‐wriSen  and  well-­‐designed  •  Highlight  important  aspects  of  the  business  
  8. 8. Major  Factors  to  Consider  Before   SelecJng  Your  Business  •  What  are  your  interests?  •  What  are  your  abiliJes?  •  Do  you  have  the  start  up  money  and   necessary  resources?  •  Profit  potenJal  •  Pleasure  •  Availability  
  9. 9. Possible  Teen  Businesses  
  10. 10. Teen  Entrepreneurs  
  11. 11. Class  Assignment  •  Read  pp.  25-­‐27  •  Complete  “  Choosing  Your  Teen  –  Based   Business”  

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