Value Proposition canvas- Customer needs and pains
Intro to ent&wht_bus_plan
1. What Should I be Doing? Come in SILENTLY!! Take out your BUSINESS BINDER, A PEN, & PENCIL. SILENTLY!! Put your homework in the homework folder for your class section. (You have 3 minutes) Sit down! Take out your laptop, sign-on, and wait. Go to my website www.mrsjlogan.weebly.com Complete your “Kick-Off” assignment Business Math (You have 5 minutes)
5. Today’s Agenda What Will I Do This Year? Introduction to Entrepreneurship What is a Business Plan?
6. What Will I Do This Year ? You will assume the role of a teen-based business owner. The form of business ownership you will assume is that of a sole proprietorship. Asole proprietorship is a business owned and operated by one person.
7. Ups and Downs of a Sole Proprietorship Advantages Easy to start You are your own boss Control your income Develop the ability to take risks introduce new products to the market Disadvantages Work long hours Provide the necessary startup money, known as CAPITAL Responsible for money, owed, known as DEBT Dependent on your health and ability to operate
8. 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.
9. What is a Business Plan and Why Have One? A business plan is a series of documents that serves as a blueprint for starting a business. A business plan includes information about the business the industry in which it competes its products and/or services its customers its competitor, and its finances
10. 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 current status of the business vision; future goals, and objectives a plan to achieve the vision
11. What is a Business Plan and Why Have One?, cont’d. The primary functions of a business plan are set goals and objectives attract potential investors acquire financing attract quality emloyees attract potential new customers
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13. Components of a Business Plan Cover Page – includes the company name and address information, the author of the business plan, and the date the business plan was prepared.
14. Components of a Business Plan Executive Summary – summarizes all the sections of the business plan; it is to capture the attention of the reader.
15. Components of a Business Plan 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.
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17. Components of a Business Plan Operating Plan – tell how the business will acquire materials and supplies to how they will be distributed to the customers.
18. Components of a Business Plan Schedule of Start-up funds Required – shows the detailed plans for the use of any funds needed to start the business.
19. Components of a Business Plan Financial Statements – includes a Statement of Profit/Loss, a Balance Sheet, a Statement of Cash Flow Resume – also known as owner’s credentials, provides reader with the background and work experience of the owner of the business.
20. Components of a Business Plan Supplemental Attachments Logo and Tagline Business Cards Company Letterhead Customer Prospect Database Promotional Letter Brochure Newspaper Advertisement iMovie (commercial) Website
21. 5 Characteristics of a Good Business Plan Neat Organized Professional Well-written and well-designed Highlight important aspects of the business
22. Ticket Out the Door An _______________ is a person who organizes, operates, and assumes the risk for a business venture. A ________________ is a series of documents that serves as a blueprint for starting a business. A good business plan includes the following characteristics, it is ___________. Neat Organized Professional Well-written and well-designed Highlight important aspects of the business All of the above.
