Why is the section on key personnel so important?

Investors invest in people even more than ideas

The main body of a business plan does NOT normally include which of the following:

A full roster, with names, of all planned hires for at least six months

Why do business plans add a contingency to their needed cash?

to make sure their is money for mistakes

In your social media marketing plan, impressions are

How often your ad loads on a persons social media

The appendices should:

Present detailed data supporting claims in the plan

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Business Plan

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Questions 15

Answers

1
A business plan is helpful to:
Key employees
Founders/entrepreneurs
Investors
All are correct
2
There is a government mandated outline that you must use for a business plan.
False
True
3
A business plan is useful to:
Secure financing
All are correct
Set specific objectives
Think through all aspects of the business
4
An example of a operation expense is
marketing
rent
All are operating expenses
salaries
5
Why is the section on key personnel so important?
Investors invest in people even more than ideas
You lose your ownership if you are not listed in the business plan
It is the longest section
It is legally required
6
The main body of a business plan does NOT normally include which of the following:
Bios of key personnel
Information on marketing
Financial management info
A full roster, with names, of all planned hires for at least six months
7
A business plan should avoid talking about the founders and focus on hard facts about the market and plan.
False
True
8
Why do business plans add a contingency to their needed cash?
to make sure their is money for mistakes
They shouldn't!
to make sure there is money to pay employees
to make there is money to buy equipment
9
Pro forma statements are:
Historical financial statements
Statements using the "Pro" layout
Forward-looking predictions
Professionally formed statements
10
In your social media marketing plan, impressions are
What people think about your business
How often your ad loads on a persons social media
All correctly describe impressions
less frequent than clicks
11
The appendices should:
Be omitted
Act as a concluding statement
Contain just footnotes or links to more data
Present detailed data supporting claims in the plan
12
A business plan should:
Include and discuss risks
Never mention risks because they scare off investors
None of the above
Primarily focus on risks
13
Revenue - Operating Expenses - Major Purchases =
Both are correct
Profit
Cash Flow
Neither are correct
14
A business plan is best described as:
The historical record of what's been done with the business so far
A blueprint for the business
A projection of all possible future scenarios
A 30-second pitch given to investors
15
New businesses do not expect to make a profit for the first couple weeks.
True
False

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