ENT - Business Plans [LESSON]

Business Plan

In this lesson, we will learn about the importance of developing and organizing a successful business plan including the needed components and sections.

Would you Rather? | Activity

Let's have a little fun and weigh in on a few business "Would you Rather?" questions in the learning object below. Click the arrow to proceed through the activity.

Writing a Business Plan | Video

Answer the following questions as you watch the short video below:

  1. Why is it important to develop and organize a business plan?
  2. List some of the components of a business plan.

OER Source: Red Canoe Credit Union “Writing a Business Plan Links to an external site." Used according to terms of use.

A well organized business plan can help you start and run your business. The business plan essentially functions as a roadmap for setting up, managing, and growing your business. It can also help you secure funding or bring on new business partners.

There is no right or wrong way to format a business plan. The important part of a business plan is that it meets the needs of your business.

Business Plan | Presentation

Some of the most common components of business plans are highlighted in the presentation below. Please take the time to read through each. Click the arrow button at the bottom to move on.

Business Plan Matching | Practice Activity

Match the description to the correct business plan section.

Reflection

Successful entrepreneurs understand that a well-written business plan can guide their decision-making process and help the business remain focused. Oftentimes, entrepreneurs will seek investment from venture capitalists to fund their business ventures. This is where a well-structured business plan with a strong focus on the financial aspects of the business comes into play. Before starting a business, the business plan should always be created first.

[CC BY-NC-SA 4.0 Links to an external site.] UNLESS OTHERWISE NOTED | IMAGES: LICENSED AND USED ACCORDING TO TERMS OF SUBSCRIPTION - INTENDED ONLY FOR USE WITHIN LESSON.