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It explains what a business plan is and how it functions as a roadmap for improving business management and assessing economic viability. The session covers why preparing a business plan matters, including decision-making support for management and credibility for bankers and investors. It also outlines key questions before writing, common pitfalls to avoid, practical tips for drafting, and suggested business plan components such as executive summary, business description, operations, market definition, organization, and financial management.",{"@graph":63,"@context":119},[64,80,102],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":11,"@type":70,"position":76},"https://docshare.wps.com/template/presentations/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/developing-a-business-plan-the-key-to-business-success-webinar-august-18-2014/351666/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/developing-a-business-plan-the-key-to-business-success-webinar-august-18-2014/351666.png","ImageObject",442,249,{"name":88,"@type":89},"Fahsai","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-27","2026-09-22",true,{"@type":98,"interactionType":99,"userInteractionCount":101},"InteractionCounter",{"@type":100},"ViewAction",10,{"@type":103,"mainEntity":104},"FAQPage",[105,111,115],{"name":106,"@type":107,"acceptedAnswer":108},"What is the purpose of a business plan in this webinar?","Question",{"text":109,"@type":110},"The webinar states that a business plan has two purposes: helping the management team make decisions to meet objectives and selling the feasibility of the business to bankers and investors as a selling tool.","Answer",{"name":112,"@type":107,"acceptedAnswer":113},"Which questions should you answer before writing a business plan?",{"text":114,"@type":110},"According to the S.B.A. (2009), the webinar advises answering what products or services you provide, what needs you fill, who your potential customers are, why they should buy from you, how you reach them, and where you will get financial resources.",{"name":116,"@type":107,"acceptedAnswer":117},"What are common mistakes to avoid when preparing a business plan?",{"text":118,"@type":110},"The webinar recommends avoiding unreasonable limits on long-term projections, unrealistic expectations about required money and time, over-optimism, and overly sophisticated language.","https://schema.org",{"og:url":78,"og:type":121,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":123,"canonical":78},"index,follow",{"doc_id":125,"site_id":56},351666,1791480686,{"code":4,"msg":5,"data":128},{"doc_id":125,"user_id":129,"nickname":88,"user_avatar":130,"doc_module":9,"category_id":8,"category_name":11,"doc_title":59,"doc_description":61,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":101,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":136,"language":137,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":138,"faqs":139,"seo_title":140,"seo_description":61,"update_tm":141,"read_time":142},549768702563,"https://ap-avatar.wpscdn.com/avatar/8000c4aa63b76e948b?x-image-process=image/resize,m_fixed,w_180,h_180&k=1786536092046926083","First Nations Development Institute Webinar  \nDeveloping a Business Plan: The Key to Business Success  \nSouthern Risk Management Education  \nCenter  \nH.L. Goodwin, Jr.  \nAugust 18, 2014  \nOverview  \n• Help participants to understand the importance of creating a business plan  \n• Define and describe the components of a business plan  \n• Provide access to resources that can help to develop a business plan  \nObjectives  \n1. Understand what a business plan is  \n2. Understand why preparing a business plan is important  \n3. Understand the purpose of a business plan  \n4. Know the components of a business plan  \n5. Be able to prepare a draft business plan  \nWhat is a Business Plan?  \n• A business plan is a written outline that describes and evaluates all aspects of the economic viability of your business  \n• In other words, it is the roadmap that helps you improve the management of your business  \nWhat is a Business Plan?  \nAccording to the U.S Small Business Administration (SBA) 2009, a clear business plan must include a statement about:  \n– Who you are  \n– Why you are in business  \n– What you do  \n– How you do it  \n– Where you operate  \n– How do you generate profits  \n– Who your customers are  \n– Why your business is important  \nPurpose of a Business Plan  \nAccording to McCorkel and Bevers a business plan has two purposes:  \n1. Help the business management team make decisions to meet specified objectives and goals  \n– It will define and focus your objectives using appropriate information and analysis  \n– It uncovers omissions and/or weaknesses in your planning process  \n2. Help sell the feasibility of the business to bankersand investors  \n» It demonstrates the business has a plan and is well-managed » It is a selling tool  \nWhy Prepare a Business Plan?  \n• A business plan is useful in many ways:  \n– It will define and focus your objective using appropriate information and analysis  \n– It uncovers omissions and/or weaknesses in your planning process  \n– It demonstrates the business has a plan and is well managed  \n– It is a selling tool when dealing with important relationships including your banks, lenders, and investors  \nTip: Write down the names, addresses, and phone numbers of key people that might review your business plan. For instance, family members, banker, lawyer, potential customers, investors, etc.  \nWhat to Avoid in a Business  \nPlan  \nAvoid  \n1. Not placing some 1. reasonable limits on longterm future projection.  \n(Long-term means over 2. one-year.)  \n2. Few business plans correctly anticipate how  \nmuch money and time will 3. be required.  \n3. Over optimism. Over confidence. 4.  \n4. Use of sophisticated and complicated language.  \nTry This  \nStick with short-term objectives and modify the plan as your business progresses.  \nBe extremely conservative in predicting capital requirements, timelines, sales and profit.  \nWrite down your strategies in the event of business adversities.  \nMake it easy to read and understand. Use simple language in explaining the issues.  \nBefore You Start Writing  \n• According to the S.B.A.(2009), you should answer the following questions before writing a business plan:  \n– What services or products does your business provide?  \n– What needs does it fill?  \n– Who are the potential customers of your service or product?  \n– Why they should buy from you?  \n– How will you reach your potential customers?  \n– Where will you get the financial resources to start or run your business?  \nComponents of a Business Plan  \n• A business plan can be tailored to fit your needs, but some suggested sections for the business plan include:  \n1. Table of Contents  \n2. Executive Summary  \n3. Business Description  \n4. Operation  \n5. Definition of the Market  \n6. Organization and Management  \n7. Financial Management  \n• Your plan does not need to have each one of this sections, but should include each section necessary to give a full picture of the goals and objectives of the business","cbCaiiXGpDVbw8RS","https://ap.wps.com/l/cbCaiiXGpDVbw8RS","pdf",820722,66,"English","# Overview\n## Objectives\n# What is a Business Plan?\n# Purpose of a Business Plan\n# Why Prepare a Business Plan?\n# What to Avoid in a Business Plan\n## Try This\n# Before You Start Writing\n# Components of a Business Plan","[{\"question\":\"What is the purpose of a business plan in this webinar?\",\"answer\":\"The webinar states that a business plan has two purposes: helping the management team make decisions to meet objectives and selling the feasibility of the business to bankers and investors as a selling tool.\"},{\"question\":\"Which questions should you answer before writing a business plan?\",\"answer\":\"According to the S.B.A. (2009), the webinar advises answering what products or services you provide, what needs you fill, who your potential customers are, why they should buy from you, how you reach them, and where you will get financial resources.\"},{\"question\":\"What are common mistakes to avoid when preparing a business plan?\",\"answer\":\"The webinar recommends avoiding unreasonable limits on long-term projections, unrealistic expectations about required money and time, over-optimism, and overly sophisticated language.\"}]","Developing a Business Plan: The Key to Business Success - Webinar - August 18, 2014 | PDF",1790095194,23]