Title: Develop a business model and a business plan.
Course: Entrepreneurship, Advanced (12053-II) > Section: Starting an Entrepreneurial Business

Development should include the following components of the business model:

- Key partners
- Key activities
- Key resources
- Value propositions
- Customer relationships
- Channels
- Customer segments
- Cost structure
- Revenue streams

Development should also include following an established format to produce a business plan incorporating the following components:

- Executive summary
- Description of the business (e.g., location, customers, form of ownership)
- Problem
- Customer segments
- Unique Value Proposition (UVP)
- Solutions
- Channels (pathways to customers)
- Revenue streams
- Cost structure
- Key metrics
- Competitive advantage

Process/Skill Questions:

- What is the purpose of a business plan? For whom is it written?
- How can a business plan help with the operation of the business?
- How is an effective business plan created?
- What research should be done prior to developing a business plan?
- How does a business model differ from a business plan?
- What role does a business model play in the development of a business plan?
- What is the role of the business plan in obtaining financing?
- Why is it a good idea to talk with more than one realtor when selecting a business location?
- What strategies can an entrepreneur use to minimize the amount of cash needed for a startup?
- What are the consequences of not having a business plan?
- Why is it a good idea to have an accountant look over the business plan?
- What are the benefits of working in a partnership when creating a new business?
- How can partners minimize conflict while working to build a new venture?
- How do successful partners define their roles in a new business venture?

Teacher Resources:

- How to Seek Help and Find Key Partners, Entrepreneurship Crash Course
- The Core of a Business - Key Activities & Resources, Entrepreneurship Crash Course
- How to Build Customer Relationships, Entrepreneurship Crash Course
- Is Growth Right for You?, Entrepreneurship Crash Course
- Revenue Streams, Entrepreneurship Crash Course
- Strategyzer Business Model Canvas
- Business Model Canvas Micro-Credentials, VCU da Vinci Center for Innovation
- DECA Competitive Event: Start-Up Business Plan
- Write your business plan, U.S. Small Business Administration