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Satisfactory Essays
UNIT 1• ENTREPRENEURIAL PATHWAYS

THE BUSINESS PLAN: ROAD
MAP TO SUCCESS

2

ENTREPRENEURSHIP: Starting and Operating a Small Business, 3/e
Steve Mariotti and Caroline Glackin

Class Name
Instructor Name
Date, Semester

Performance Objectives
After this lecture, you should be able to complete the following Performance Objectives

1. Know what a feasibility analysis is and when to create one.
2. Know what a business plan is and how to describe it.
3. Explain the various purposes of a business plan and the audience for each. 4. Understand the components of a business plan.
5. Be able to demonstrate proper development and formatting of a business plan.

2

Feasibility Analysis: Will My Idea Work?

Feasibility Analysis-a study to assist in making a go/no go decision based upon a close examination of product/service, market, industry, and financial data in a sufficient degree of detail to ensure confidence in the results.
The feasibility analysis essentially tests a business concept for viability in three areas
• Product and/or service feasibility
• Market and industry feasibility
• Financial feasibility

2

Five Industry Forces by Porter:

•Competitor rivalry
•Barriers to entry
•Threat of substitutes
•Supplier power
•Buyer power

2

What is a Business Plan?

Document that thoroughly explains a business idea and how it will be carried out

• Story of what the business is & will be
• All costs & a marketing plan
• Description of financing
• Estimation of earnings

2

Why Do You Need a Business Plan?

Saves time & money
Key to raising capital
Serves as an operations guide

2

Business Plan Components

Cover page

Management & operations

Executive summary

Financial analysis & projections Mission, vision & culture
Company description

Funding request & exit strategy Opportunity analysis & research Appendices

Marketing strategy & plan

2

Cover Page

Full legal

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