Title: Develop a business plan.
Course: Entrepreneurship (12053-I) > Section: Planning an Entrepreneurial Venture

Development should include following established format to produce the following components:

- Executive summary
- Description of the business (e.g., location, customers, form of ownership)
- Product or service
- Marketing plan
- Operation plan
- Financial plan
- Growth plan
- Appendix

Process/Skill Questions:

- Why is it necessary to develop a business plan?
- Why should opportunity recognition be the first step in identifying the new business venture product or service?
- Why is sole proprietorship the best legal structure for an individual entrepreneur to select when starting a new business?
- Why is creating a marketing and promotion plan important to the success of the new venture?
- How can the financial plan set the stage for a business's success?
- What is the role of the business plan in obtaining financing?