1.2 business planning

• What are 2 purposes of a business plan


  -To reduce the risk of failure

  -To be as successful as possible
• 5 steps in developing a business idea


  -The idea

  -The people

  -Market research

  -Finance

  -Competitors
• 5 smart objectives


  -Specific

  -Measurable

  -Acheiveable

  -Realistic

  -Timely