Chapter_10 - Chapter 10 Writing the Business Plan Copyright...

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Copyright Atomic Dog Publishing, 2006 Chapter 10 Writing the Business Plan
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Copyright Atomic Dog Publishing, 2006 10-1 Introduction The business plan lays out the direction, sources of fuel, and competitive terrain for the growing business. Entrepreneurs can anticipate different scenarios, and prepare in advance for them. A business plan has multiple purposes to the emerging business. A good business plan requires the entrepreneur to develop: - Research skills: To investigate the industry, the market, and the strategies used by the competition - Analysis skills: To craft projections, assess the risks, and creatively apply problem solving to the challenges
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Copyright Atomic Dog Publishing, 2006 10-2 Two Famous Business Plans Entrepreneurs of today are more likely to succeed if they take the time to develop a detailed business plan before they begin. Two famous business plan examples: FedEx Amazon.com - Each of these businesses was based on a fundamental idea that only became real after the founders crafted business plans that guided them through their early days.
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Copyright Atomic Dog Publishing, 2006 10-2a FedEx FedEx is arguably one of the world’s most successful businesses. Its 2003 sales topped $22 billion, and its brand is one of the most recognized on the planet. Fred Smith, the FedEx CEO, founded the company in 1971. He was an undergraduate student at Yale, where he wrote a paper that was to become the idea behind FedEx. In his paper, he pointed out that growth in the computer industry was dependent on the development of a new type of logistic system - One that could speed computer parts to remote corners of the country to keep businesses up and running.
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Copyright Atomic Dog Publishing, 2006 10-2b Amazon.com Jeff Bezos—graduated from Princeton University and landed a job on Wall Street. Bezos observed that Internet usage was increasing by 2,300 percent a year. He saw an opportunity for a new sphere of commerce and immediately began considering the possibilities. Bezos knew that the only way to seize the opportunity was to go into business for himself. On July 16, 1995, Bezos opened his site to the world. In thirty days, Amazon had sold books in all fifty states and forty-five foreign countries. By September, it had sales of $20,000 a week.
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Copyright Atomic Dog Publishing, 2006 10-3 Writing a Business Plan Creating and building a successful enterprise requires effective planning. Planning provides a well thought-out blueprint of action
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This note was uploaded on 10/02/2010 for the course ENTR ENTR 3310 taught by Professor A.lish during the Fall '09 term at University of Houston-Victoria.

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Chapter_10 - Chapter 10 Writing the Business Plan Copyright...

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