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Making the Business Plan Realistic

    Chapter 5 – Making the Business Plan Realistic Learning Objectives After completing this chapter, you will be able to Develop the second draft of the business plan by applying revision methods to improve the realism of the first draft Overview A first draft of a business plan will inevitably be unrealistic for a host of reasons. It is likely to include contradictions between sections of the written part. The financial… Read More »Making the Business Plan Realistic

    Initial Business Plan Draft

      Chapter 4 – Initial Business Plan Draft Learning Objectives After completing this chapter, you will be able to Develop a comprehensive business plan draft Overview This chapter describes an approach to writing your draft business plan. It also outlines the elements of a comprehensive business plan that can be used as a template for starting your business plan. Figure 7 – Initial Business Plan Draft (Illustration by Lee A. Swanson)… Read More »Initial Business Plan Draft

      Business Models

        Chapter 3 – Business Models Learning Objectives After completing this chapter, you will be able to Describe what a business model is Analyze existing and proposed businesses to determine what business models they are applying and what business models they plan to apply Develop and analyze alternative business models for new entrepreneurial ventures Overview In this chapter the concept of the business model is introduced. One concept of the business… Read More »Business Models

        Essential Initial Research

          Chapter 2 – Essential Initial Research Learning Objectives After completing this chapter, you will be able to Apply analytical skills to assess how the nature of the entrepreneurial environment can influence entrepreneurial outcomes Apply the right tools to do impactful analyses at each of the societal, industry, market, and firm levels to evaluate entrepreneurial and other business opportunities Overview This chapter introduces the distinct levels of analyses that must be… Read More »Essential Initial Research

          Developing a Business Plan

            Chapter 1 – Developing a Business Plan Learning Objectives After completing this chapter, you will be able to Describe the purposes for business planning Describe common business planning principles Explain common business plan development guidelines and tools List and explain the elements of the business plan development process Explain the purposes of each element of the business plan development process Explain how applying the business plan development process can aid… Read More »Developing a Business Plan

            Business Plan Development Guide

              Business Plan Development Guide   Main Body Chapter 1 – Developing a Business Plan Chapter 2 – Essential Initial Research Chapter 3 – Business Models Chapter 4 – Initial Business Plan Draft Chapter 5 – Making the Business Plan Realistic Chapter 6 – Making the Plan Appeal to Stakeholders and Desirable to the Entrepreneur Chapter 7 – Finishing the Business Plan Chapter 8 – The Business Plan Pitch References Appendix… Read More »Business Plan Development Guide

              Service Marketing Mix

                Service Marketing Mix Extended Marketing Mix Introduction In this article we discuss how the marketing mix for marketing a service is different to selling a product. If you would like to revisit the characteristics of a service click here. characteristics of a service Just like the marketing mix of a product the service marketing mix comprises of Product, Price, Place and Promotion. How ever as a service is not tangible the marketing mix… Read More »Service Marketing Mix

                A Sample Business Plan

                  Chapter 16-Appendix: A Sample Business Plan The following business plan for Frank’s All-American BarBeQue was built using Business Plan Pro software. It is for the purpose of illustration and does not represent the full capabilities of the software. 16.1 Executive Summary Frank’s All-American BarBeQue has operated for decades in the southern Connecticut shore region. With a tradition of superlative food at fair prices served in a family-friendly atmosphere, the owners now… Read More »A Sample Business Plan

                  Exit Strategies

                    14.4 Exit Strategies LEARNING OBJECTIVES Understand the importance of an exit strategy. Explain the exit strategies that a small business can consider. The most emotional topic a small business owner will face while building a business—and the hardest decision to make—is when and how to exit the business. This very personal decision should be considered while building the business because this decision will impact many other decisions made along the way.Timothy… Read More »Exit Strategies

                    Escapes: Getting Out of the Business

                      14.3 Escapes: Getting Out of the Business LEARNING OBJECTIVES Identify the situations in which an owner may choose to get out of business. Identify and understand the situations that may lead to being forced out of business. Understand the resources that can help an owner make a decision. There are many reasons why an owner might want to walk away from a business; the choice is oftentimes the owner’s. Perhaps the… Read More »Escapes: Getting Out of the Business