Intro to Business Plans

EQ - How does a well-written business plan benefit an entrepreneur?

‰        Introduction to Business Plans

o   Importance of Business Plan (p. 64 – 68)

o   Elements to Include (69 – 77)

§  **NOTE** We have already completed EVERYTHING for our business plan.  Our complete business model gives us our foundation for writing our business plan

o   Begin Business Plan Composition (ROUGH DRAFT DUE JAN. 3)

‰       BUSINESS PLAN ELEMENTS

o   Introduction

§  A detailed description of the business & its goals

§  The ownership of the business

§  Skills and Experience the owner brings to the business

§  The Advantages our business has over the competition

o   Main Body

§  Marketing (71-72)

§  Financial Management (72-73) (Cost Structure)

§  Operations (73)

§  Concluding Statement (73)

o   Appendix

§  Supporting documents that provide additional information to support your plan (these will be limited) (76)

‰       **NOTE** Pages 74-77 should assist greatly

https://docs.google.com/spreadsheet/viewform?formkey=dF9GNk5wRFpfaTlHMGh5MDA5YVhoQ2c6MQ

Finalize Your Business Model

We will begin today by completing the Business Model Canvas Assessment Part 2.  Following that, you will have the remainder of class to finalize your canvas.

Good Luck!

Cost Structure

EQ - How can cost structure make or break a business model?

1. Activator: Muddy Point Review
2. Revisiting the Profit Equation
3. Intro to cost structure
1. Defined
2. Purpose
3. Prioritizing Costs
4. Develop a legitimate cost structure for your business model
5. Create Business Model Canvas cards
6. Preview Business Plans

**Homework** Summarize your business model in writing

The 3 Keys

EQ - How do Key Resources, Key Activities, and Key Partnerships impact a business model?

1. "So Much Room For Activities"



2. Introduction to The 3 Keys
3. Advanced Organizer
4. Mini-lesson: Factors of Production
5. Partnership Reading
6. Class Discussion
7. Muddy Points
8. Create Images for Business Model
9. Test Review

Canvas Work Day

EQ - How do I explain the elements of my business model visually?

1. Activator - Xerox
2. Description of Today's Agenda
3. Canvas Development
4. Unit Exam Preparation