A business plan is a road map for the would-be entrepreneur. A business plan is a formal document that describes, in detail, every bit of information of a proposed venture. The need for entrepreneurs to prepare their own business plan extends to the entrepreneurial team as well. Because planning is essential to the success of any undertaking, it requires creating objectives and directions for the future.
A quality business plan typically consists of 10 different sections, as follows:
- Executive summary
- Research design and development
- Critical risks
- Financial forecasting
- Milestone schedule
Each section requires the inclusion of specific information to answer important questions about the proposed business. Preparing the plan requires paying attention to more than just the content; the presentation must be professional, clearly organized, and error-free. Sometimes, the packaging is as important as the content in ensuring the acceptance of the plan. After a plan has been completed, it must be carefully analyzed and modified to ensure that it is easy to understand and answers all pertinent questions about the nature of the business.
For this assignment, assume that you are an entrepreneur hoping to open a business in your hometown and you are in the process of creating a business plan. Although your business plan is not yet complete, a group of investors has asked you to put together a brief presentation of the outline of your business plan. Therefore, using all of the knowledge you have acquired throughout this course, you begin to develop a PowerPoint presentation that outlines the elements of your business plan.
In your presentation, include a slide for each of the required parts of the business plan, and list your strategies and rationale for each of the parts. Be sure to make your presentation informative as well as exciting because your goal is to attract investors to your business. Make use of either speaker notes or voice-over narration (if your version of PowerPoint has that capability) to supply as much information as possible. Keep in mind that your plan will by no means be complete because you are only in the initial phase at this point; however, you should be able to include some details of what you expect your venture to look like. Have fun and be imaginative with this assignment—your creativity should shine through!