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Topic 1: Introduction to Business Plan (Reasons to update business plan…
Topic 1: Introduction to Business Plan
Purpose
convince potential investors to fund your
business venture.
it should be used to
help run your company with a more cohesive vision
Components
similar purpose of RAISING MONEY/PERSUADING INVESTOR
3 PRIMARY REASONS
BUSINESS CONCEPT
Company Overview
Business Operation
Product and Services
Executive Summary
MARKET PLACE SECTION
MARKET ANALYSIS
MARKETING STRATEGY
who is the customers/ where/
FINANCIAL SECTOR
Financial plan
cash flow statement
balance sheet/income statement
financial ratios & breakeven analysis
Reasons to update business plan
industry is a fast-changing one.
Updates help adapt to significant market change
Updated plan is necessary to convince investors for additional financing
Implementation of new technology,services will require a different business plan
old plan doesn't seem to reflect reality any more
.