Answer» Correct Answer - Option 1 : Feasibility of the business.
The correct answer is the Feasibility of the business. - The conclusion part of the business plan will identify the Feasibility of the business.
- Business plans explain what a company does, who runs the company and how the company plans on hitting revenue goals, based on competitive advantages and marketing strategies.
- Business plans are also used to seek investor loans or to finance their business.
- The key components of a business plan are:
- Executive Summary
- It should appear first in the business plan.
- It should summarize what the business seeks to accomplish.
- Since it’s meant to highlight the intentions of the rest of the plan, it is recommended by some to write it in the end.
- It reveals the company’s mission statement, along with a short description of its products and services.
- Investors are looking for reasons why they should risk money in the venture; this is achieved by highlighting the unique ways in which the company solves problems and how an influx of funding will yield success.
- Company Description
- It includes key information about the business, goals and the target customers.
- It also explains why the company stands out from other competitors.
- Market Analysis
- It should help visualize the target customers, how much money they make, what their buying habits are, which services do they want and need, etc.
- Competitive Analysis
- It presents a clear comparison of the business vs direct and indirect competitors.
- Description of Management and Organization
- Breakdown of Your Products and Services
- It includes a detailed breakdown of the products and services.
- Marketing Plan
- It includes promotional and marketing strategies.
- Sales Strategy
- Request for Funding
- It focuses on the amount of money that you need to set up your business and how you plan to use the capital that you are raising.
- Financial Projections
- It breaks down the financial goals and expectations that you’ve set based on market research.
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