Please follow the link to the Small Business Association and answer the following questions.
Chapter 5 Develop a Business Plan
In Chapter 5, you learned about the importance of a business plan when starting a business. The U.S. Small Business Administration provides a web site to help you plan your business.
www.sba.gov
1. What should be included in the description of the business
2. When describing your product/service, what four questions should you answer?
3. What type of information should you gather about your competitors?
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10 comments:
BRITTNEE STOILOV
1. Many things belong in the description of the business such as the marketing, finances, and management. Things like competition, procedures, personnel, and insurance need to also be included in writing the description of your business.
2. When describing your product or service, you should answer the questions, 1. what is your product and what does it do? 2. Is it affordable? 3. What it will do to help/serve the people? 4. Where is it or will it be located?
3. You should have information about your competitors profits, how many customers, if they are in a better area than you, how much they are selling, learn about how the operate and how their staff is.
Stephanie Bryant
12/5/07
(F)
Ch.5 Blog Questions
1.) The things that should be included in the description of the business are information about the nature of the business as well as a list of the primary factors that you believe will make the business a success.
2.) When describing your product/service, the four questions that you should answer are:
- What does your product/service look like or entail?
- Where is your product/service in its life cycle?
- Does your product/service have any copyright, patent, or trade secret information that is relevant to your business?
- Are there any research and development activities you are involved in or are planning to be involved in?
3.) The type of information that you should gather about your competitors are the areas in which your competitors are already firmly situated,as well as their products, services, quality, and price in order to ensure the least direct competition.
1. The things included in the description of a business plan should be the history and background of your idea, your goals and objectives for your company, the products and services you will offer, your for of ownership, management and staffing, marketing, and your current and projected financial statements.
2. you should explain how these products and surivces differ from those already on the market, you should also highlight any unique features of your products or services, and explain the benefits customers will recieve by purchasing from your company.
3. Thier advantages and disadvantages. If they have succeeded or failed, and why? Also if they will be a threat to you.
- Elizabeth Devolve
1. What should be included in the description of the business
Describe what the business will produce, how you will produce it, and who will buy it.
Explain who will run your business and who will supply it with goods
State how the business will win over customers from competitors and what will keep customers
Provides detailed financial info that shows how it will succeed in earning a profit
2. When describing your product/service, what four questions should you answer?
How does the company plan to produce and sell the products
How the products or services differ from those already on the market
Highlight any unique features of your products or services
Explain the benefits customers will get by purchasing form my company
3. What type of information should you gather about your competitors?
You should find out how much the competitors make, what the competitors charge, where the competitors are located, and how long have they been around for.
Adam Hart
Tom Watson
#1
What should be included in the description is history and background, goals and objectives, products or services, form of ownership, management and staffing, marketing current and projected financial statements.
#2
The four questions you should ask are does the product or services of your company describe the plans to produce and sell? You should descibe how your services or products differ from those that are already in the market? Highlight all the unique features of your products or services? Explain the benefits customers will receive by purchasing from your company?
#3
You should gather what they charge for prices, what kind of deals do they offer, what kind of services do they provide, do they have someone that can address your concerns.
1.
- what you will produce
- how you will produce it
- who will buy the product or service
2.
- what
- how
- who
- why
3.
- prices they charge
- brands they use
- products they carry
- types of products
- customor service
- customer comments
B.Finnster
1.
- what you will produce
- how you will produce it
- who will buy the product or service
2.
- what
- how
- who
- why
3.
- prices they charge
- brands they use
- products they carry
- types of products
- customor service
- customer comments
B.Finnster
1. What should be included in the description of the business?
"A description of the business, marketing, finances, and management plans."
2. When describing your product/service, what four questions should you answer?
The questions that need to be answered are:
"What you are selling?
How will your product or service will benefit the customer?
Which products/services are in demand; if there will be a steady flow of cash?
What is different about the product or service your business is offering?"
3. What type of information should you gather about your competitors?
"Start a file on each of your competitors. Keep manila envelopes of their advertising and promotional materials and their pricing strategy techniques. Review these files periodically, determining when and how often they advertise, sponsor promotions and offer sales. Study the copy used in the advertising and promotional materials, and their sales strategy. For example, is their copy short? descriptive? catchy? or how much do they reduce prices for sales? Using this technique can help you to understand your competitors better and how they operate their businesses."
The answers were found at: http://www.iabusnet.org/templates/articledisplay.cfm?ID=499
By Alaryce Ward
1. What should be included in the description of the business?
"A description of the business, marketing, finances, and management plans."
2. When describing your product/service, what four questions should you answer?
The questions that need to be answered are:
"What you are selling?
How will your product or service will benefit the customer?
Which products/services are in demand; if there will be a steady flow of cash?
What is different about the product or service your business is offering?"
3. What type of information should you gather about your competitors?
"Start a file on each of your competitors. Keep manila envelopes of their advertising and promotional materials and their pricing strategy techniques. Review these files periodically, determining when and how often they advertise, sponsor promotions and offer sales. Study the copy used in the advertising and promotional materials, and their sales strategy. For example, is their copy short? descriptive? catchy? or how much do they reduce prices for sales? Using this technique can help you to understand your competitors better and how they operate their businesses."
The answers were found at: http://www.iabusnet.org/templates/articledisplay.cfm?ID=499
By Alaryce Ward
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