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Flashcards in Business Plan Deck (10)
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1
Q

What does a business plan shows you about your business

A

Strengths
Weaknesses
Opportunities
Threats

2
Q

Give the six elements of a business plan

A
Management
A list of companies products or services
Marketing
Finance
Production
Directors signature
3
Q

What do you use a business plan for

A

To show potential investors or the bank when asking for capital or a loan what they are investing in. Ex. Dragons Den

4
Q

Explain in your business plan what you need to include about management

A

Experience and qualifications of the managers
Responsibility of the managers
Company details like name and address

5
Q

Explain in your business plan what you need to include about marketing

A
You need to supply
What the company sells and if the market is big or small
Who are your customers in term of age group
Who are your threats and competitors
Market research
Prices
Advertising plans
Sales projections
6
Q

Explain in your business plan what you need to include about finance

A

Where you will get your money and will you have a cash flow forecast

7
Q

Explain in your business plan what you need to include about production

A

Cost of goods and your suppliers. What are your premises and equipment going to cost and will you need to employ labour

8
Q

Explain cash flow forecast

A

This is when you forecast or estimate the cash you will have in the future

9
Q

Explain why a cash flow forecast is important

A

With no cash a business cannot pay employees and rent etc…. so we need to prepare a forecast to plan for times when cash flow is short

This prevents businesses becoming cash starved

This is the main reason why businesses fail….. Not having enough cash

10
Q

What does receipts mean on a cash flow forecast

A

Cash the business gets in