Practicing Success

Target Exam

CUET

Subject

Entrepreneurship

Chapter

Entrepreneurial Planning

Question:

Arun, who is an avid football player, thought of setting up his own Football Academy. For this he requires to create interest in the minds of potential investors and so he drafts few key graphs showing financial trends and key decision making benchmark. He also prepared a slide show and oral narrative meant to trigger discussion.

Identify the format of Business plan discussed above:

Options:

Elevator pitch

Pitch Deck with oral narrative

Written Presentation for external Stakeholders

Internal Operational Plan

Correct Answer:

Pitch Deck with oral narrative

Explanation:

Formats of a business plan: The depth and detail in the business plan depends on the size and scope of the proposed new venture. There is no fixed content for a business plan as it varies according to the entrepreneur's goals and audience (i.e. who are being targeted). Thus, it is common for especially start-ups to have three or four formats as follows for the same business plan.

i) Elevator pitch: It is a three minute summary of the business plan's executive summary. This is often used as a teaser to awaken the interest of potential funders, customers, or strategic partners.

ii) A pitch deck with oral narrative : A hopeful, entertaining slide show and oral narrative that is meant to trigger discussion and interest potential investors in reading the written presentation, i.e. the executive summary and a few key graphs showing financial trends and key decision making benchmark.

iii) A written presentation for external stakeholders: A detailed, well written, and pleasingly formatted plan targeted at external stakeholders.

iv) An internal operational plan: A detailed plan describing planning details that are needed by management but may not be of interest to external stakeholders.