The business plan is a tool to help you find and explore opportunities. Students at any level of education can use the concept of preparing a business plan as a method of exploring all kinds of ideas for starting a business. It is merely a series of questions that lead you to think about the requirements and the possibilities of any kind of business. Until you start to ask these questions, you aren't able to visualize the details necessary to be successful in a business. There are many different approaches to writing a business plan, some more complex than others. But the basic components of a business plan can be organized as follows:

• providing a description of the business,

• choosing the best marketing strategy,

• identifying the management plan, and

• analyzing the finances needed to start the business and make it successful.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• A.31 Use creativity in business activities/decisions,

• D.03 Use proper grammar and vocabulary,

• D.09 Explain the nature of written communications,

• D.11 Write informational messages,

• D.13 Write persuasive messages,

• E.02 Apply basic commands of operating system software,

• E.16 Operate computer-related hardware peripherals,

• K.09 Demonstrate writing/publishing applications,

• K.15 Select sources of business start-up information,

• K16 Conduct an environmental scan to obtain marketing information,

• O.09 Develop business plan

This resource is part of the Entrepreneurship Learning Activities collection.

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