Transcript The Teen Entrepreneur

Show Me The Money!
An entrepreneur is a person
who organizes, operates and
assumes the risk for a
business venture.
A business plan is a
document that
describes a new
business and a
strategy to launch
that business.
The primary functions of
a business plan are:
 Set goals & objectives for the
business to follow (road map)
 To attract potential investors
 To acquire financing
 To attract quality employees
Cover Page
Marketing Plan
Executive Summary
Operations Plan
Company Description
Schedule of Startup Funds
Product /Service Plan
Projected Income Statement
Mission and Vision Statements
Management Team Plan
(Owner’s credentials – resume)
Market Analysis
Supporting Documents
An executive summary
is an overview.
The purpose of an
executive summary is to
summarize the key points of a
document for its readers, saving
them time and preparing them for
the upcoming content.
The company description
section of the business plan
outlines the company’s
background information
and basic business concept.
In the product and service
plan section of the
business plan, you
present the nature
of your business and
the unique features
of the product or service.
The vision statement
and mission
statement
state the
guiding
principles by which
a company functions.
vision statement a
declaration of the
scope and purpose of
a company
mission statement a
declaration of the
specific aspirations of
a company, the major
goals for which it will
strive
This section provides analysis of
the conditions and trends
in an industry, the target
market (or customer
profile) of the business,
and a detailed analysis
of the competition
A marketing plan discusses how a
company plans to make its customers
aware of its products or services. It
also describes the market
niche, pricing, company
image, marketing tactics,
a media plan, and a
marketing budget.
This section details the operations of
the business from acquiring materials
and supplies to the distribution of the
products and/or services to customers.
This section details the
plan for use of start-up
funds, as well as
projections for the future
of the business.
The management team plan presents
your qualifications (as well as those of
any partners you may have). You must
describe how you (or your team) have
the capabilities to
execute your
business
plan.
Although business plans vary in styles,
content and format, all business plans
should be:
 Neat
 Organized
 Professional
 Well-written & well-designed
 Thorough; highlighting important
aspects of the business
Every business plan should have a cover
page, a title page, a table of contents, and
supporting documents.
Make a research plan and
gather data.
Set up a notebook to
organize data.
Write a first draft.
projecting exaggerated growth levels
trying to have expertise in all areas
claiming performance above industry averages
underestimating the need for capital
1. What are two functions of the
business plan?
2. What is an executive summary
& what is it’s purpose?
3. What is a common mistake
made in writing a business
plan?