What are resources in a business plan?
The resources you need to start a business can be broken into five broad categories: financial, human, educational, emotional and physical resources.
What is a business plan quizlet?
business plan. A document that sets out the basic idea underlying a business and related start-up considerations. The Purpose of a Business Plan. Identifies the nature and context of the business opportunity. Presents the entrepreneur’s approach to exploiting the opportunity.
What are the 2 contents of a business plan?
The standard contents of a business plan includes: an overview. executive summary. general company description.
What are the two main uses of a business plan?
The 3 most important purposes of a business plan are 1) to create an effective strategy for growth, 2) to determine your future financial needs, and 3) to attract investors (including angel investors and VC funding) and lenders.
What are the 4 types of resources?
There are four categories of resources, or factors of production:
- Natural resources (land)
- Labor (human capital)
- Capital (machinery, factories, equipment)
What are examples of key resources?
Business Model: Key resources
- Physical resources, such as raw material, buildings, vehicles, transportation, storage facility, machines and factory.
- Human resources, or staff, such as a talented engineer or marketing experts.
What is the most important part of your business plan?
The executive summary the most important part of your business plan, and perhaps the only one that will get read so make it perfect! The executive summary has only one objective : get the investor to read the rest of your business plan.
How do you write a strong business plan?
Traditional business plans use some combination of these nine sections.
- Executive summary. Briefly tell your reader what your company is and why it will be successful. …
- Company description. …
- Market analysis. …
- Organization and management. …
- Service or product line. …
- Marketing and sales. …
- Funding request. …
- Financial projections.
What is the most important part of the marketing plan?
The Most Important Piece of a Marketing Plan Is Your Targeted Customer. Knowing your target customer is the single most important job of any marketer, and it’s a job that never ends.
What are the 5 components of a business plan?
Business Plan Checklist: 5 Key Components to Include
- Executive Summary. The executive summary is the most important part of the business plan. …
- Company Summary. The company summary is the next critical component of any well-formulated business plan. …
- Market Analysis. …
- Management Team. …
- Revenue Projections.