unit 3 - Business plan

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  • Created by: sade
  • Created on: 30-12-13 17:00
definition of a business plan
a detailed startement setting out the proposals of the business and how it will be developed
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problems with business plans
unforseen events, length and details, omission, optimism
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why should you want a business plan?
to test idea, guidence, assessment, organisation, attract investors, resources
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definition of aim
goal in the long term
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definition of objectives
are targets you need to achieve on the way to aims
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what would be in a business plan?
exclusive summary, aims and objectives, marketing, operative, finance
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business plan requires:
to be detailed, competition and potential, SWOT analysis, weaknesses and how to solve, over stimate cost, be realistic, time to prefect, update regulary
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definition of marketing
is the management process that identifes, anticipates and supplies customer's requirements efficiently and profitably
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3 elements of financial planning
1. statement of sources of finance 2. forcasting cash flows 3. forecasting profits
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why might investors and banks want to see the business plan
information, cash flow, risk, respond positively, advise
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why might suppliers want to see business plan?
reassured if drawn a financial plan that helps them to identify when they will be paid and manage their own cash flow
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who can give business advice?
professionals (accounants and banks), business links, chambers of commerce, trade association
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Other cards in this set

Card 2

Front

problems with business plans

Back

unforseen events, length and details, omission, optimism

Card 3

Front

why should you want a business plan?

Back

Preview of the front of card 3

Card 4

Front

definition of aim

Back

Preview of the front of card 4

Card 5

Front

definition of objectives

Back

Preview of the front of card 5
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