Ch 1: Steps in Creating a Business Plan

About This Chapter

A cogent business plan keeps employees in tune with the company's goals and allows potential investors to review information about the business. The brief video lessons in this chapter can set your company's executives on the path to completing a sound plan for your business.

Steps in Creating a Business Plan - Chapter Summary

In these lessons, our instructors lay out the necessary features of a good business plan and why they are important. Your company's executives can look at the following:

  • The purpose of a business plan
  • How to set goals for the business
  • Elements of the executive summary section of a business plan
  • Characteristics of an effective mission statement
  • What goes into the company description section of a business plan

These corporate training lessons explore all aspects of a business plan and guide your company's leaders through the development process. They can verify their understanding through exams at the end of each of the lessons; there is also a chapter exam that covers all of the material.

How It Helps

  • Reinforces a sense of purpose: Crafting a business plan requires your executives to think deeply about the mission, function and goals of the business.
  • Boosts cooperation: By studying these lessons in a group training session, company leaders can discuss their ideas and iron out areas of disagreement before they become a problem.
  • Promotes teamwork: Setting goals down in writing lets employees at all levels know what their aims should be.
  • Attract investors: A convincing business plan is a must for obtaining funding from investors.

Skills Covered

After reviewing these videos, your company's leaders should be able to:

  • Understand the function and benefits of writing a business plan
  • Describe types of business plans and determine type your company needs
  • Analyze the elements of a business plan, including the mission statement, company description and the executive summary
  • Be prepared to write a business plan that thoroughly describes the organization, purpose, finances and goals of your company

6 Lessons in Chapter 1: Steps in Creating a Business Plan
Test your knowledge with a 30-question chapter practice test
How to Write a Business Plan

1. How to Write a Business Plan

Staring a new business can be both exhilarating and intimidating. As with most things in life, having a plan tends to lead to better outcomes. In this lesson, you'll learn the basics of writing a business plan for a new start-up.

Practical Application: Business Plan Template

2. Practical Application: Business Plan Template

It would be hard to overestimate the importance of a business plan. When launching a business, the quality of the business plan will influence funding, customer acquisition, financial decisions, the management structure, and the overall success of the business.

What Are Business Goals? - Definition & Examples

3. What Are Business Goals? - Definition & Examples

Goals are used to help a business grow and achieve its objectives. They can be used to foster teamwork and help the business describe what it wants to accomplish. Setting goals is an important part of any business plan.

Executive Summaries in Business Reports and Proposals

4. Executive Summaries in Business Reports and Proposals

Executive summaries in business reports and proposals provide a short, detailed synopsis of lengthy papers that allow business professionals to quickly make decisions. Let's take a deeper look at them in this lesson.

Business Plans: How to Develop a Business Mission Statement

5. Business Plans: How to Develop a Business Mission Statement

Companies must develop an effective business mission statement in order to have an effective foundation for their marketing plan. This lesson explains what a mission statement is and the characteristics of a good business mission statement.

The Company Description as an Extended Elevator Pitch

6. The Company Description as an Extended Elevator Pitch

The extended elevator pitch strategy of writing a company description provides an opportunity to create a succinct and memorable review of a business idea. Business plan readers will understand the business' goal and unique proposition offered.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the Creating a Business Plan course

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