Developing The Plan Part One

1. Why write a business plan?

Developing a good business plan can put you on track to success in a small business. A business plan summarizes an entrepreneur's proposed business venture. It provides an organized report of a company's goals and how management intends to acieve those goals. A business plan is a comntinuing work in progress that should evolve as your business evolves. Developing a business plan is like outlining a strategy for turning your business idea into reality.

2. What to include in a business plan?

A business plan includes a guide to the company's operations, a document presenting your company's strategic vision, and a tool to persuade lenders and investers to finance your business. A business plan also includes a standard by which you can measure and improve your business performance, and it is the basis for making sound business decisions. The elements of the business plan are a management team plan; company description; product and service plan; mission statements; market analusis; industry overview; competitive analysis; operational plan; organizational plan; financial plan; growth plan; contingency plan; executive summery; cover page, title page, and table of contetnts; and supporting documents.

3. What are the key attributes needed to be successful and an entrepreneur?

As an entrepreneur some key attributes are as follows. You need to be able to manage a team, be able to think up names for different plans, you need to be able to research different companies, and be able to do good comparisons. You need to make sure that you have a solid business plan, where you have taken time out to think over everything carefully.

Brainstorming

1. Freezie stand
2. Plant sale
3. Pet sale
4. Ice Cream stand
5. Drink stand
6. School Supply store
7. Book store
8. Music store
9. Food stand
10. School clothing stand


Plant Sale

1. You could sell the plants outside of the school, at other businesses.
2. A lot of people like plants, especially when they're cheaper.
3. It could help raise money for the school.
4. This idea seems the most promising out of them all.

Five Problems

1. It only can take part at the right time of year
2. It's mainly a business directed at parents, rather than teenagers.
3. We'd have to be able to find plants that are cheaper, sell them for cheap, yet still be able to make a profit.
4. The plants may die suddenly, and we could lose money.
5. We will have to find people who will volunteer to sell the plants.