1. Developing a Business Plan
Chapter 4
Developing a Business Plan

2. free enterprise system business plan strategic plan marketing plan
Developing a Business Plan
Chapter 4
free enterprise system
business plan
strategic plan
marketing plan
financial plan
accounting
transaction
generally accepted accounting principles (GAAP)
budget
merchandise
inventory
cash flow
negative cash flow

3. Developing a Business Plan
Chapter 4
Developing a Business Plan

4. Developing a Business Plan
Chapter 4
Developing a Business Plan

5. Developing a Business Plan
Chapter 4
Developing a Business Plan
Be Realistic
Goals for Your Business should:
Be Specific
Have a Clear Time Frame
Help You Decide What Type of Action to Take
You will probably revise your goals as you go.

6. Developing a Business Plan
Chapter 4
Developing a Business Plan
Short-Term Goals
Two Types of Goals
Long-Term Goals
First identify your short-term and long-term goals. Then create a plan that consists of specific steps toward each goal.

7. Developing a Business Plan
Chapter 4
Developing a Business Plan
Steps to Prepare a Marketing Plan
Assess the competition.
Identify services offered.
Research the current pricing and advertising.
Identify potential customers.

8. Developing a Business Plan
Chapter 4
Developing a Business Plan

9. Developing a Business Plan
Chapter 4
Developing a Business Plan

10. Accounting: The Backbone of Financial Management
Developing a Business Plan
Chapter 4
Accounting: The Backbone of Financial Management
Section 2
Financial Management
Determining Number of Employees
Efficient Payroll Management Involves Two Important Activities:
Using GAAP

11. Accounting: The Backbone of Financial Management
Developing a Business Plan
Chapter 4
Accounting: The Backbone of Financial Management
Successful businesses invest in the future.
Where Can a Business Invest?
Human Capital
Capital Goods
Technology

12. Accounting: The Backbone of Financial Management
Developing a Business Plan
Chapter 4
Accounting: The Backbone of Financial Management
Why Does a Business Need Reserve Funds?
Equipment Repair
Drop in Sales
Natural Disaster

13. Accounting: The Backbone of Financial Management
Developing a Business Plan
Chapter 4
Accounting: The Backbone of Financial Management

14. The Importance of Financial Management
Developing a Business Plan
Chapter 4
The Importance of Financial Management
Aspects of Financial Management
Make a profit
Invest part of profit for future use
Make and monitor investments
Use accounting for sound financial management

15. Economic Indicators Consumer Price Index (CPI) Unemployment Figures 4
Developing a Business Plan
Chapter 4
Economic Indicators
Use Economic Indicators When Developing Your Business Plan
Consumer Price Index (CPI)
Unemployment Figures