This exercise lets you evaluate what information is needed in a well-prepared business plan. You can use the Handout 6-C: Writing a Business Plan below to help with this exercise. Handout 6-C One of Mike McNeely's favorite pastimes as a teenager was taking his old car apart and putting it back together again. After graduation, Mike started working as a mechanic for his Uncle Larry's auto repair shop. Many of the customers have specifically asked Mike to work on their cars because they know he is knowledgeable and honest. It's been ten years since Mike started his job. Now he is considering opening his own auto repair shop. He saved up some money and he thinks his rich Uncle Buck will lend him the rest. He has started writing a business plan and so far has: - A description and appraisal of the market area - An analysis of the competition - Alist of potential suppliers - A list of purchasing and pricing procedures - A list of personnel needed and their job descriptions. You must provide DETAILED Answers! 1. What important items are missing from Mike's plans and what are they for? 2. What steps can Mike take to insure success if he starts his own business? In general not from the above handout: 3. Who should prepare the business plan? Why? Should the writer get help from outside professionals and husinessneople? If so Why