Joy Keith

Business Plan Analysis Assignment

When making a business plan there are several steps of organization that should be done appropriately

when writing. It should first have an executive summary which would be a short description of the

business. It should include characteristics, marketing points, and end results. This is where you will catch

the readers attention to continue reading your plan. The next section will be a description of the

business. This part should be a brief history of the company, the product or services should be listed of

what is unique and important to the consumers. You will want to clarify milestones and goals too.

Marketing will be the next section, which will be divided into two different parts. First part will be

research and analysis. Which will be the who will buy the product or service. The second part would be

the plan of how to get the consumers to buy the product or service. The marketing section is very

important step to the business plan. After the marketing section you will need to research, design, and

development your product or service. The location should come next. This is where and how you will get

the customers to buy your product or services. The staff or management should come next. This is

where you will list the people who will start this journey will you. You could have a board of directors or

just a management team. You will want to state their salary and pay wages. It is necessary to list what

ownership others will have. Next should be a where you will list critical risk at. We all hope that business

will start out smooth but that is not the case. Here is a good way to list the problems you might

encounter and how you will fix them. You will next want to do some financial planning. It will consist of

inventory, cost of goods sold, wages, expenses, and income. These statements will be a very good tool

for your business to stay on track for years to come. Next will be a deadline schedule. You will list timing

of your objectives and accomplishments. The very last section on your business plan will be the
appendix. This section will include any references or names that have helped you. You can also put your

drawings, documents, or anything else that supports the business plan. A good business plan is your

foundation to your business. It will give you the opportunity to summarize all the important steps along

the way for a successful business.

Faith Business Plan needed an executive summary. They did put a statement of Faith, but this is was just

telling us what they believe in. In the executive summary they could have listed what will make them

unique, what were their marketing strategies, and what result they are striving for. Their marketing

section I thought was very good. It was in the two sections, and they stated the importance factors in

these sections. The section of research, design, and development I don’t really pertains to this type of

business. So, I understand why this was left out. The next section is where they should have put the

information of the location of the store. They should have listed their hours of operation at in this

section too. The management section was good. I feel they listed the important factors wages,

insurance, additional employees, and what their job duties would be. Critical risk should have been a

little bit more. They listed the problems but did not explain how they were going deal with them. Listing

the solutions, I feel are important too. That way you can have some kind of backup plan when they do

occur. The financial section of the business plan was very detailed and understandable. I feel they pretty

much listed all the expenses that they could foresee in the business. They did list a milestone schedule

which is very important to keep on track and meet deadlines. They set themselves up for future goals of

opening another location, which is great positive thinking. The plan is missing an appendix. I feel this is

important part of a business plan. You can list all the people who have advised you along the way. It will

be a great reference tool for you to use in the future. This is where they could also put the contracts

they had drawn up and any other important documents they have.
A business plan is a very important tool for a starting a business. It gives you guidance and

understanding what your intentions are of your business. It keeps you organized and on the right path to

a successful business.

http://www.sba.gov/category/navigation-structure/starting-managing-business/starting-business/how-

write-business-plan

http://www.noobpreneur.com/2010/11/22/how-to-write-a-winning-business-plan-8-tips/

 Hodgetts R.M., & Kuratko, D.F. (2001).  Effective Small Business Management, ( 7th
           ed.). Fort Worth, TX: The Dryden Press. ISBN: 978-0470003435