Business planning Flashcards
(11 cards)
What key elements are included in a business
Executive summary, goals, strategies, and financial projections
What does a business plan detail for potential investors
It shows there goals and financial projections
How does a business plan reduce failure risk
Decisions are based on form and careful thought
List 3 components for a business
Executive summary, market analysis, financial projection
What are smart objectives in a business plan
Specific, measurable achievable, relevant, time- bound
What is the role of a marketing plan
Identifies the audience and highlights the 4 p’s
What do you determine in a financial plan
Sources of finance and cash-flow forecasts
What should a business plan identify about the market
It should identify differences in the customer and customer preferences
What is a drawback of creating a business plan
It can take a lot of time and you can miss the market opportunities
What is a benefit of a good business plan
It helps understand finance and increasing financing chances
