Identification should include elements such as
- a mission statement
- a detailed description of the business, its product or service, and its owners/founders
- marketing, operations, financial, and growth plans.
Process/Skill Questions
Thinking
- Why should a business plan address the outlook for the industry?
- How should the “big idea” for the product or service be presented in the business plan?
Communication
- What communication skills are needed to develop a business plan?
- How do presentation skills benefit a business owner applying for a loan?
Leadership
- How does a business plan help shape the company leader’s vision?
- Why should a mission statement be included in a business plan?
Management
- What resources are available to help develop a business plan?
- How can a business plan benefit the company beyond start-up?