WHAT GOES INTO A BUSINESS PLAN? ENTREPRENEURSHIP 11/15/2018 LESSON 2.2 WHAT GOES INTO A BUSINESS PLAN? List and describe the seven basic elements of a business plan Describe how to pull a business plan together Lesson 2.2

Basic Elements of a Business Plan 2.2 Basic Elements of a Business Plan Introductory elements Main body Appendix

Main Body of a Business Plan— Five Sections 2.2 Main Body of a Business Plan— Five Sections Executive Summary Introduction 3. Marketing 4. Financial management 5. Operations 6. Concluding Statement

Main Body of a Business Plan— Introduction 2.2 Main Body of a Business Plan— Introduction Detailed description Ownership and legal structure Skills and experience Competitive advantages

Main Body of a Business Plan—Marketing 2.2 Main Body of a Business Plan—Marketing Products and services Market Industry Location

Main Body of a Business Plan— Financial Management 2.2 Main Body of a Business Plan— Financial Management Identification of risks Financial statements A financial statement based on projected revenues and expenses is called a pro forma financial statement. 3 years of pro forma (projected) income statements Funding request and return on investment

Main Body of a Business Plan— Operations 2.2 Main Body of a Business Plan— Operations Explain how the business will be managed on a day-to-day basis. Discuss hiring and personnel procedures. Include information on insurance and lease or rental agreements. Describe the equipment that will be necessary for production of your products or services. Describe how the products or services will be produced and delivered.

Main Body of a Business Plan— Concluding Statement 2.2 Main Body of a Business Plan— Concluding Statement Summarize the goals and objectives you have for your business. Emphasize your commitment to the success of the business.

Complete the Business Plans 2.2 Complete the Business Plans Introductory elements Cover letter Title page Table of contents Statement of purpose Executive summary Appendix Put it all together