Friday, March 7, 2014

EQ 4--What do you think goes in a business plan? What are the parts? Is research involved? What facts do you need to know, if any? Where could you find this information?

     I believe there are many key parts that compose a business plan.  I think there are three basic parts for a business plan, funding, product/service, and employees.  Funding consists of the amount of money needed to be successful and to cover all the costs associated with a business such as paying bills, paying employees, and buying material.  Product/service consists of what the company is going to sell or perform.  The product/service needs to be discussed thoroughly and everyone should be confident as well as familiar with the product.  Employees are a key part, if necessary, for selling and manufacturing the product/service.  I think research should  definitely be involved.  Everyone should discuss different plans and find which plans are more successful then others, and also take into consideration cost efficiency.  Certain facts you should know are details about your product, cost of manufacturing your product, paying employees, business costs, and advertising.  You could find much of this information on the internet, or you could discuss with other businesses as well as business who carry the same or similar product.   

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