1. Countless different types of business plans exist but the three most common types are direct,...

 

Transcribed Image Text:

1. Countless different types of business plans exist but the three most common types are direct, multisided, and marketplace. We use a business plan to set ourselves up for success, you can't go into a business without knowing exactly what your goals are and what you wanna accomplish. 2. A lean canvas is a new adaptation made by Ash Maurya of the original business model canvas, it is an important document of all the important aspects of a business simplified for easy viewing and understanding. The components of a lean canvas are our business's target audience and market, our value proportion, our revenue streams, channels of distribution, and our cost analysis. The components help with the business plan because it gives you a better understanding of all the important assets of our business, helping keep track of our target consumer and how to be seen by them. It also helps keep track of the money we can spend to create and grow our business and how much we want to be able to earn from our company. These components are important as they lay out the foundation of our business plan all in one area we can always go back to. 3. The components of a business plan are first the background information about the business and what problem they are trying to solve/ what they want to achieve with their business. Another two components of a business plan are the financial information for the company and growth strategies on know they want to grow their business. A summary of the business is also included in the business plan alongside the market analysis for the company. These components of our business plan are important to have because if we don't have any financial information and what we want to achieve with the company with a set out step-by-step plan we are going to set unrealistic goals that we won't ever be able to achieve. We can't be swinging to the fences if we don't have all our goals and detailed ways on how to solve them we won't ever be able to succeed. 4. I believe what makes a business plan successful is if your plan includes all of your goals for the foreseen future, target audience, ways you believe you can advertise and get your business out there, and a good description of what your business is going be able to do for people. The most important part of the business plan for your company to be successful is how you sell your business to people, and how you believe your business is going to impact people and their lives enough that they will keep coming back to support you. All of these aspects help create a successful business plan to help develop your business because it's the light in the dark tunnel of the unknown that is in running a business. 1. Countless different types of business plans exist but the three most common types are direct, multisided, and marketplace. We use a business plan to set ourselves up for success, you can't go into a business without knowing exactly what your goals are and what you wanna accomplish. 2. A lean canvas is a new adaptation made by Ash Maurya of the original business model canvas, it is an important document of all the important aspects of a business simplified for easy viewing and understanding. The components of a lean canvas are our business's target audience and market, our value proportion, our revenue streams, channels of distribution, and our cost analysis. The components help with the business plan because it gives you a better understanding of all the important assets of our business, helping keep track of our target consumer and how to be seen by them. It also helps keep track of the money we can spend to create and grow our business and how much we want to be able to earn from our company. These components are important as they lay out the foundation of our business plan all in one area we can always go back to. 3. The components of a business plan are first the background information about the business and what problem they are trying to solve/ what they want to achieve with their business. Another two components of a business plan are the financial information for the company and growth strategies on know they want to grow their business. A summary of the business is also included in the business plan alongside the market analysis for the company. These components of our business plan are important to have because if we don't have any financial information and what we want to achieve with the company with a set out step-by-step plan we are going to set unrealistic goals that we won't ever be able to achieve. We can't be swinging to the fences if we don't have all our goals and detailed ways on how to solve them we won't ever be able to succeed. 4. I believe what makes a business plan successful is if your plan includes all of your goals for the foreseen future, target audience, ways you believe you can advertise and get your business out there, and a good description of what your business is going be able to do for people. The most important part of the business plan for your company to be successful is how you sell your business to people, and how you believe your business is going to impact people and their lives enough that they will keep coming back to support you. All of these aspects help create a successful business plan to help develop your business because it's the light in the dark tunnel of the unknown that is in running a business.

Answer rating: 100% (QA)

Explanation of Common Business Plan Types Business plans come in various forms and youve mentioned three common types direct multisided and marketplace business plans Direct Business Plan This type of ... View the full answer