| A | B |
|---|
| Business Plan | A written description of new business venture that describes all aspects of the business. |
| Executive summary | A brief account of the key points in contained in a business plan. It should be no more than two pages and should include the most important information from each section of the plan. It should open with a compelling story to persuade the reader that the business is going to succeed. |
| Vision statement | Establishes the scope and purpose of a company and reflects its values and beliefs. |
| Mission statement | Expresses the specific aspirations of the company, the major goals it will try to reach. |
| competitive analysis | indicates how the proposed business has an advantage over its competitors. |
| Marketing Plan | Discusses how a company makes its customers aware of its products or services |
| Competitive analysis | Describes how the business has an advantage over its competitors. |
| How information in the competitive analysis can be gathered | through viewing their web sites, talking to customers, vendors, suppliers, employees, and attending trade shows… Maybe even reading articles about the competition. |
| What information can be found in the marketing plan? | How a company makes its customers aware of its products and services. |
| What features are included in the marketing plan? | Market niche, pricing, company image, marketing tactic, a media plan, and a marketing budget. |
| Contingency plan | It looks at likely risks to the business, such as lower than expected sales and emergencies that might affect it. It then suggest ways to minimize risks. |
