2. WHAT
IS
AN
ENTREPRENEUR?
• An
entrepreneur
is
an
amazing
person
who
organizes,
operates,
and
assumes
the
risk
for
a
business
venture.
• To
start
a
new
business
entrepreneurs
need
a
business
plan,
which
we
will
discuss
next.
3. What
is
a
Business
Plan
and
Why
Have
One?
• A
business
plan
is
a
series
of
documents
that
serves
as
a
blueprint
for
starJng
a
business.
• A
business
plan
includes
informaJon
about
– the
business
– the
industry
in
which
it
competes
– its
products
and/or
services
– its
customers
– its
compeJtor,
and
– its
finances
4. What
is
a
Business
Plan
and
Why
Have
One?,
cont’d.
• Business
plans
allow
owner
to
break
down
the
process
because
it
can
be
an
overwhelming
task.
• Business
plans
indicate
1. current
status
of
the
business
2. vision;
future
goals,
and
objecJves
3. a
plan
to
achieve
the
vision
5. What
is
a
Business
Plan
and
Why
Have
One?,
cont’d.
• The
primary
funcJons
of
a
business
plan
are
1. set
goals
and
objecJves
2. aSract
potenJal
investors
3. acquire
financing
4. aSract
quality
emloyees
5. aSract
potenJal
new
customers
6. Components
of
a
Business
Plan
• Cover
Page
• Funds
Required
and
• ExecuJve
Summary
Expected
Uses
• Company
DescripJon
• Financial
Statements
• DescripJon
of
• Owner’s
CredenJals
Products
and
Services
(resume)
• Market
Analysis
• Supplemental
• MarkeJng
Plan
ASachments
• OperaJng
Plan
7. CharacterisJcs
of
a
Good
Business
Plan
• Neat
• Organized
• Professional
• Well-‐wriSen
and
well-‐designed
• Highlight
important
aspects
of
the
business
8. Major
Factors
to
Consider
Before
SelecJng
Your
Business
• What
are
your
interests?
• What
are
your
abiliJes?
• Do
you
have
the
start
up
money
and
necessary
resources?
• Profit
potenJal
• Pleasure
• Availability
