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Entrepreneurship: Develop a Business Plan Flashcards | StudBud

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Entrepreneurship: Develop a Business Plan

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Developing a business plan #entrepreneurship

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Questions 10

Answers

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