Business Plans
L1
It is used as a planning tool for business’
Helps a business when applying for finance form a bank or venture capitalists.
L3
In a good plan:
- A convincing case for the products distinctiveness and how it can be protected.
- Consistent logic backed by figures. On Dragons Den the Dragons demand a Yr 3 projections.
- Contingency Plans and Budgets. Preparing for unexpected events.
L4
In a bad plan:
- Nothing convincing about what makes this business/ product stand out.
- Lots of figures with no justification.
- Based on a fad not long term
- Overly dependant on the entrepreneurs dream
- Good ideas but bad timings.
It is used as a planning tool for business’
Helps a business when applying for finance form a bank or venture capitalists.
L3
In a good plan:
- A convincing case for the products distinctiveness and how it can be protected.
- Consistent logic backed by figures. On Dragons Den the Dragons demand a Yr 3 projections.
- Contingency Plans and Budgets. Preparing for unexpected events.
L4
In a bad plan:
- Nothing convincing about what makes this business/ product stand out.
- Lots of figures with no justification.
- Based on a fad not long term
- Overly dependant on the entrepreneurs dream
- Good ideas but bad timings.