Intro to ent&wht_bus_plan

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Intro to ent&wht_bus_plan

  1. 1. What Should I be Doing?<br />Come in SILENTLY!!<br />Take out your BUSINESS BINDER, A PEN, & PENCIL.<br />SILENTLY!! Put your homework in the homework folder for your class section. (You have 3 minutes)<br />Sit down!<br />Take out your laptop, sign-on, and wait.<br />Go to my website www.mrsjlogan.weebly.com<br />Complete your “Kick-Off” assignment<br />Business Math (You have 5 minutes)<br />
  2. 2. Introduction to Entrepreneurship <br />&<br />What is a Business Plan?<br />MRS. LOGAN<br />
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  4. 4. Introduction to Entrepreneurship <br />&<br />What is a Business Plan?<br />MRS. LOGAN<br />
  5. 5. Today’s Agenda<br />What Will I Do This Year?<br />Introduction to Entrepreneurship<br />What is a Business Plan?<br />
  6. 6. What Will I Do This Year ?<br />You will assume the role of a teen-based business owner.<br />The form of business ownership you will assume is that of a sole proprietorship.<br />Asole proprietorship is a business owned and operated by one person.<br />
  7. 7. Ups and Downs of a Sole Proprietorship<br />Advantages<br />Easy to start<br />You are your own boss<br />Control your income<br />Develop the ability to take risks<br />introduce new products to the market<br />Disadvantages<br />Work long hours<br />Provide the necessary startup money, known as CAPITAL<br />Responsible for money, owed, known as DEBT<br />Dependent on your health and ability to operate<br />
  8. 8. WHAT IS AN ENTREPRENEUR? <br />An entrepreneur is an amazing person who organizes, operates, and assumes the risk for a business venture.<br />To start a new business entrepreneurs need a business plan, which we will discuss next.<br />
  9. 9. What is a Business Plan and Why Have One?<br />A business plan is a series of documents that serves as a blueprint for starting a business.<br />A business plan includes information about<br />the business<br />the industry in which it competes<br />its products and/or services<br />its customers<br />its competitor, and<br />its finances<br />
  10. 10. What is a Business Plan and Why Have One?, cont’d.<br />Business plans allow owner to break down the process because it can be an overwhelming task.<br />Business plans indicate<br />current status of the business<br />vision; future goals, and objectives<br />a plan to achieve the vision<br />
  11. 11. What is a Business Plan and Why Have One?, cont’d.<br />The primary functions of a business plan are<br />set goals and objectives<br />attract potential investors<br />acquire financing<br />attract quality emloyees<br />attract potential new customers<br />
  12. 12. Components of a Business Plan<br />Cover Page<br />Executive Summary<br />Company Description<br />Description of Products and Services<br />Market Analysis<br />Marketing Plan<br />Operating Plan<br />Funds Required and Expected Uses<br />Financial Statements<br /><ul><li>Owner’s Credentials (resume)</li></ul>Supplemental Attachments<br />
  13. 13. Components of a Business Plan<br />Cover Page – includes the company name and address information, the author of the business plan, and the date the business plan was prepared.<br />
  14. 14. Components of a Business Plan<br />Executive Summary – summarizes all the sections of the business plan; it is to capture the attention of the reader.<br />
  15. 15. Components of a Business Plan<br />Company Description – section that includes all details about the the business including its age, history, legal form of ownership, industry classification, structure, location, the number of employees, and its primary functions.<br />
  16. 16. Components of a Business Plan<br /><ul><li>Description of Products and Services – provides detailed information about the products or services that will be offered to customers.</li></li></ul><li>Components of a Business Plan<br />Market analysis – informs the reader of the conditions and trends in an industry including the target market of the business, demographics of the target market, and an analysis of the competition.<br />Marketing plan – plans for building and maintaining the customer base, benefits that the customers will have for choosing this business or service over competitors, pricing information, and promotion and advertising plan.<br />
  17. 17. Components of a Business Plan<br />Operating Plan – tell how the business will acquire materials and supplies to how they will be distributed to the customers.<br />
  18. 18. Components of a Business Plan<br />Schedule of Start-up funds Required – shows the detailed plans for the use of any funds needed to start the business.<br />
  19. 19. Components of a Business Plan<br />Financial Statements – includes a Statement of Profit/Loss, a Balance Sheet, a Statement of Cash Flow<br />Resume – also known as owner’s credentials, provides reader with the background and work experience of the owner of the business.<br />
  20. 20. Components of a Business Plan<br />Supplemental Attachments<br />Logo and Tagline<br />Business Cards<br />Company Letterhead<br />Customer Prospect Database<br />Promotional Letter <br />Brochure<br />Newspaper Advertisement<br />iMovie (commercial)<br />Website<br />
  21. 21. 5 Characteristics of a Good Business Plan<br />Neat<br />Organized<br />Professional<br />Well-written and well-designed<br />Highlight important aspects of the business<br />
  22. 22. Ticket Out the Door<br />An _______________ is a person who organizes, operates, and assumes the risk for a business venture.<br />A ________________ is a series of documents that serves as a blueprint for starting a business.<br />A good business plan includes the following characteristics, it is ___________.<br />Neat<br />Organized<br />Professional<br />Well-written and well-designed<br />Highlight important aspects of the business<br />All of the above.<br />

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