NUTS AND BOLTS OF GREAT BUSINESS PLANS-2016.pdf

The following notation in parenthesis at the end of

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the following notation in parenthesis at the end of the sentence from which the citation is taken: (author, year). Thus you will put (Jones, 2012) if Jones is the author. If there is no author, you will put the source and the date, as in: (U.S. Department of Commerce, 2011). If a direct quote, cite the page number, as in (Jones, 2012, p. 45). There then should be a complete set of references at the end of the plan. Bring the plan alive. One of the worst things you can do is to write a plan that consists of page after page of unbroken text. Use headings, sub-headings, and sub-sub-heading to break up the text. Just as critically, use tables and figures (exhibits) to break up the text, to illustrate key points, and to bring the plan to life. It is often possible to significantly shorten the text in a given section by using a couple of tables and figures. A picture or diagram can tell a vivid story. Be sure every table and figure is numbered, titled, and referred to in the text.
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IMAGINE > BELIEVE > CREATE 7 BREAKDOWN OF THE MAJOR SECTIONS OF YOUR BUSINESS PLAN THE EXECUTIVE SUMMARY (2 pages max) Although this is the first section of the plan, the Executive Summary is the last section that you write. The Executive Summary concisely summarizes the essence of the business and the key decisions made by the entrepreneurial team in each area of the plan . It is not merely an abbreviated business plan. The reader should get a clear, basic picture of the business, and be enticed to want to read more. Many entrepreneurs or teams fail to consider adequately their markets, their customers and a business model that will enable them to achieve success. Instead they often get wrapped up in an interesting technology or product, which is not the same thing as an attractive business. The questions below will help you focus on the aspects of your executive summary that are relevant to the business plan. These are some initial considerations that first time readers (venture capitalists, banks, business plan judges, etc.) look at before going on to evaluate the members of the team and the soundness of your financial projections. Make sure that your executive summary provides answers to these questions in addition to giving the reader an overview of the highlights from your business plan for the new venture. Opportunity Statement: What is the nature and size of the opportunity or problem? (the underlying need ) What forces are creating the opportunity? Why is the opportunity now? Business Concept and Product or Service: How would you describe the business to a potential investor, team member, or customer if you had only a short elevator ride to share together? Make sure you have a succinct and powerful way to express your business concept. What is unique about this venture?
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  • Spring '17
  • Yongseok Jang
  • Marketing, The Market

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