Business Plan Quiz

Business Plan Quiz

Take this quiz to discover if you know how to write a business plan.

1. How long should your business plan be?

10 pages

1 page

5 pages

it varies

2. Why is a business plan important?

It helps you learn to write.

It is important to plan.

It isn't!

3. Your profit and loss forecast should cover ...

the first month.

the first year.

month by month for the first year and a summary of the second year.

month by month for the first two years.

4. In writing a business plan for investors, why should you make your plan factual, and not as a sales document?

Because the investors do not want to invest in a business that will do well.

Because investors will recognise that, "If it looks to good to be true then it probably is".

Because it is easier to write it factually.

5. Why should you not hire someone to write your business plan for you?

The person you hire will write it badly.

Because it will take him too long to write it.

Because it is important that you think through how your business will work.

The person you hire might steal your plans.

6. How often should you update your business plan?

Never

Every ten years

Every five years

Every year

7. If you do not need investors, should you still have someone review your business plan?

Yes

No