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Entrepreneurship: Chapter 3 Develop a Business Plan Flashcards | StudBud

Explore/Entrepreneurship: Chapter 3 Develop a Business Plan

Entrepreneurship: Chapter 3 Develop a Business Plan

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Developing a business plan #entrepreneurship

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Questions 10

Answers

1
Mistakes to avoid when preparing a business plan include all EXCEPT:
wasting time on research
ignoring the competition
providing unrealistic financial projections
failing to define the target market
2
Which of the following organizations can help you write your business plan?
bank
Small Business Development Center
all of the above
Small Business Administration
3
A letter that introduces and explains an accompanying document
harvest strategy
executive summary
cover letter
statement of purpose
4
Writing a business plan:
is a quick and easy process
is quick but difficult
requires patience, research, thought, and time
none of the above
5
The purpose of including supporting documents in a business plan is to:
make the plan lengthy
provide additional information
make you look smart
explain your business idea
6
An entrepreneur's plan for extracting money out of the business after it has become successful
statement of purpose
financial manganement
pro forma financial statement
harvest strategy
7
A brief explanation of why you are asking for a loan and what you will do with the $
business plan
executive summary
statement of purpose
trade association
8
A short restatement of a report is called a(n):
business plan
cover letter
executive summary
statement of purpose
9
A business plan is NOT intended for:
potential investors
business partners
your competition
your bank
10
The main body of a business plan includes which of the following:
statement of purpose
supporting documents
financial management
executive summary