INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To harvest crops for the winter
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Which component of a business plan presents the unique features of what the business is selling?
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Capital and resources needed to start a business
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None of the above
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Detailed explanation-1: -This part of your business plan covers the specifics of how you plan to market and sell your products and services.
Detailed explanation-2: -Executive Summary A good executive summary is compelling. It reveals the company’s mission statement, along with a short description of its products and services.
Detailed explanation-3: -The purpose of the design and development plan section is to provide investors with a description of the product’s design, chart its development within the context of production, marketing and the company itself, and create a development budget that will enable the company to reach its goals.
Detailed explanation-4: -“Your business plan should highlight how the product or service will address the need, what is unique about your offering and why it would be difficult to replicate. To do this, you should outline key differentiators, features and why the product or service is something that stands out in the market.”