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Compare your plan to one you found online (provide specific website reference).
If you had six months to do the plan, what would you have spent the most time developing?
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The most interesting (or most challenging) information I found was ___.
If you provide a truly new product or service, where did you find relevant financial information?
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Suppose you are approached by an interested investor to buy your business. Do you know how to value your business to be able to respond? How do you determine the value of your business? Might you work for an investor who bought your business? Why or why not?
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I plan to open a small specialty cupcake bakery in an area with little apparent competition. My market research suggests that I can reach a sales level of $650,000 the first year. My products sell at an average of $3.75 per piece. The above assumptions imply an output of about 48 dozen per day. What are the operational possibilities of reaching this sales level? Why or why not?
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Define 2–4 key operating metrics that can help control your operation. What are the industry standards for these metrics?
How will you balance your time between new product or service innovations and current operational controls?
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For your specific business, what is the single most important operating decision you need to make before startup?
If you produce a product, does it have value as an intellectual property? If so, how can you protect it?
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