type-of-business-plan-2.docx

**DETERMINE THE TYPES OF BUSINESS PLAN** 1. **Feasibility Study - a comprehensive analysis that determines whether a business idea is viable and worth pursuing.** It\'s essentially a test run to see if your concept can be turned into a successful venture. 2. Concept Paper - **a short...

**DETERMINE THE TYPES OF BUSINESS PLAN** 1. **Feasibility Study - a comprehensive analysis that determines whether a business idea is viable and worth pursuing.** It\'s essentially a test run to see if your concept can be turned into a successful venture. 2. Concept Paper - **a short document that outlines the basic idea or concept of a project, research, or proposal.** It serves as a preliminary introduction to the topic, providing a brief overview of the key points and objectives. 3. Project Proposal **is a formal document that outlines a planned project, its objectives, scope, timeline, and budget.** It\'s often used to request funding, approval, or resources for a project. 4. Business Plan - is a comprehensive document that outlines your business strategy and goals**.** It serves as a roadmap for your venture, guiding you through the various stages of growth and development. IDENTIFY AND DESCRIBE THE STEPS IN PREPARING A BUSINESS PLAN 1. Make an evaluation of your personal resources, interest, available raw materials and available specialized technical skills in your community. Create a name of your business. Does it tell well about what your selling? Is it easy to spell and remember? 2. Conduct an analysis or survey of your market. 3. Select a proper business location 4. Make a financial plan 5. Make a production plan 6. Make an organizational plan 7. Make a management plan