1. Elements of a Sound Business Plan,
Entrepreneurship
Mr. Bernstein
Elements of a Sound Business Plan, pp
October 2018

2. Entrepreneurship Mr. Bernstein
Business Plan
Critical document that describes all aspects of the business
Business Description
Organizational or Management Team Plan
Marketing Plan or Product and Service Plan
Financial Plan
The plan outlines the purpose of the business, guides decisions, and may be instrumental in obtaining capital

3. Entrepreneurship Mr. Bernstein
Business Description
Type of Business
Mission Statement
Business Philosophy
Types of Products
Self-Analysis – Personal strengths and weaknesses
Geographic “Trading” Area
Market Segment Analysis
Potential Locations

4. Entrepreneurship Mr. Bernstein
Organizational and Marketing Plans
Type of Ownership
Start-Up Steps
Planned Personnel with Job Descriptions, including Management
Marketing Plan – the Four P’s:
Products (also in Business Description)
Pricing
Place (also in Business Description)
Promotional Activities

5. Entrepreneurship Mr. Bernstein
Organizational and Marketing Plan
Type of Ownership
Start-Up Steps
Planned Personnel with Job Descriptions
Marketng Plan – the Four P’s:
Products (also in Business scription)
Pricing
Place (also in Business Descrition)
Promotional Activities
Financial Plan Capital Requirements Sources of Capital Projected Income and Expenses Repayment Plan

6. Entrepreneurship Mr. Bernstein
Common Mistakes in Business Planning
Undefined Target Market
Poor Research
Ignoring Competition
Unrealistic Financial Projections (ie Projecting Exaggerated Growth Levels)
Underestimating Capital Needs
Inconsistencies within Plan