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Entrepreneurship Notes

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Entrepreneurship formula – ways and means to make

money grow
Four Areas of Money Making You Should
Planning an Enterprise
Address
1.1 What is a business plan for?
1. How will the business raise
Entrepreneur who plan to enter revenues? What critical factors will
any business endeavor must cause the revenues to materialize?
have a business plan on hand to 2. What will be the cost the enterprise?
guide them throughout the 3. What will be the major investments
process. Different business plans of the enterprise?
are prepared for different 4. How will the enterprise finance the
purposes. investments?

There are business plans written Executive Summary


prior to setting up an enterprise,
The Executive Summary should then
which is similar to a prefeasibility
introduce and highlight the good qualities
and a feasibility study. Many new
of:
enterprises need to convince
prospective business investors 1. The business proponents and their
about the soundness and partners;
potential of their business. They 2. The entire organization and its
need to convey the capabilities capabilities;
and competencies of their 3. The technology providers and their
owners and managers. They expertise and experience
must also be able to “sell” the 4. The supplies and all the service
proponent and the business providers
proposition to the audience
It should likewise describe the product or
service of the enterprise, their features and
attributes, and why they are the right ones
There are situations where good
to deliver to the customers.
business plans are needed:
Enterprise Strategy – builds and develop
Clearly, a business plan serves
the game plan for attaining competitiveness
many masters.
Enterprise Delivery System – is the entire
First, it serves the entrepreneur who must
process of converting input(resource) into
set a navigational course.
output and these output into income
Second, it serves investors and cautions
financers
Third, it serves the managers and others of
the organization so that they will know the
strategies and programs of the enterprise
Contents of a Business Plan
1.2 A business concept contains
essence of the enterprise in a
concise but powerful manner

concise – short, direct,


summarized

A business plan should be specific and


transparent product concept to business
model

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