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Discuss the importance of a Business Plan to the success of a small business.
Using the Business Plan Format in Chapter 5 of your textbook, identify, and briefly describe, the 14 elements different components of a business plan, utilizing headings for each element, with a description of the element beneath it.
You should provide a listing of the elements of your Business Plan using the element as a heading; for example; a heading of “Executive Summary” with a description of what is included in the executive summary of a Business Plan.
Using a fictitious or real-life business in the industry of your choice, develop the Business and Industry Profile and the Competitor Analysis elements of your Business Plan as if you were completing them in a real-life business plan. Make sure that you identify the name of your firm (be it real or fictitious) and the type of industry in which it is operating.
When you complete the “Business and Industry Profile” and “Competitor Analysis” elements, provide a mock-up of what a Business and Industry Profile and a Competitor Analysis might look like for either a fictitious company or a real-life company of your choice.
