most important steps in launching a new business venture
One of the most important steps in launching a new business venture is fashioning a well-designed, practical, realistic financial plan.” (Scarborough & Cornwall, 2015, p. 454).
With this assignment, you are creating two important elements of a financial plan: an Income Statement and Balance Sheet. You also are preparing an outline of a presentation of your business plan to potential investors or lenders.
Using the business you created from Assignments 2 and 3, write a three to four (3-4) page paper in which you:
- Prepare a simple pro forma (projected) income statement and balance sheet for the first two years of operation, using income projections and incorporating an advertising plan.
- Outline a plan for hiring and retaining competent, motivated employees for your business.
- Prepare an outline for a “pitch,” i.e., a short 20-30 minute business plan presentation that will be made to lenders or investors.
- Include at least two (2) references outside the textbook.
Your assignment must follow these formatting requirements:
- This course requires use of Strayer Writing Standards (SWS). The format may be different than other Strayer University courses. Please take a moment to review the SWS documentation for details (more information and an example is included in the Strayer Writing Standards left menu link).
- Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.
The specific course learning outcomes associated with this assignment are:
- Analyze the key financial management considerations in operating a small business, including sources of financing.
- Determine the various control and support functions needed to manage a small business.
- Use technology and information resources to research issues in small business management.
- Write clearly and concisely about small business management using proper writing mechanics.