deca startup business plan ideas

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Chapter Name

Start-Up Business Plan

The purpose of the Start-Up Business Plan Event is to provide an opportunity for the participant to develop and present a proposal to form a business. The event provides an opportunity for a participant to develop and demonstrate mastery of essential knowledge and skills as they apply to the analysis of a business opportunity.

Career Opportunities

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Sample Exams

Exam blueprint.

The chart below shows the number of items per instructional area for the 2023-2024 exams used at the district level, chartered association level and the International Career Development Conference.

EXAM STRATEGIES

The exam blueprint is your best friend.

Use the exam blueprint to focus your preparation efforts. You may prioritize studying instructional areas with the higher number of questions listed the blueprint.

Keep Expanding Your Knowledge

As you advance in competition, exam items become more specialized to the Career Cluster. Therefore, you should start with an understanding of general business concepts in the Business Administration Core and build on the knowledge within the Career Cluster of your competitive event.

Review Your Work

Don’t just take the exam! After you take the exam, compare your answers to the exam’s key. If you incorrectly answer a question, re-read the question, note the correct answer, and then read the descriptive key. The descriptive key explains the correct answer and why the other answers are incorrect. This will also help you understand the performance indicator addressed in the exam question.

Focus Your Efforts Where They Need To Be

Each exam question is linked to an instructional area. For each incorrect answer, tally the instructional area it matches. If you are noticing a pattern of incorrectly answering questions within particular instructional areas, spend more time learning the knowledge and skills within those instructional areas. Spend more time reviewing the performance indicators under those instructional areas.

Form Study Groups

Because there are only seven DECA exams, chances are high that some of your fellow chapters are taking the same exam as you, even if they are in a different competitive event. Use this opportunity to form study groups. You could consider taking the exam together and discussing the questions and answers. You could even divide and conquer to prepare study materials to help understand performance indicators.

Get In The Mode

Recreate the testing scene. Find out from your chapter advisor the setting for your exam during competition. Will you be taking the exam online through an electronic device prior to the competition, or  using pencil and paper on-site during the competition? Find out how long you will have to take the test. Then try to replicate the setting using a practice test and using the same time frame you are given in competition.

Develop a Study Schedule

Make sure to study and prepare on a regular basis. Plan a study schedule and calendar leading up to your competition. Do not study right before you take the test. Instead, concentrate on being calm and confident in yourself when taking the exam.

Test Taking Techniques

When taking the exam, use these general test taking techniques:

• Familiarize yourself with the format.
• Read the question. Think about the answer.
• Read all choices before choosing your answer.
• Eliminate choices you know aren't correct.
• If you get stuck, circle and come back.
• Always take an educated guess.
• If time allows, review your work. ‍

Remain Positive!

Be confident. Refrain from engaging in negative discussions with other members prior to the exam, such as “I’m so nervous – I don’t know if I studied enough.”

Sample Role-Plays

Instructional areas.

Each role-play focuses on a primary instructional area. For each role-play, a majority of its performance indicators will focus on that primary instructional area. The following instructional areas may be used in this event's role-plays.

ROLE-PLAY STRATEGIES

Key elements.

The following key elements are always a part of each role-play scenario. Understanding the format and style of the role-play will help you become familiar, feel comfortable and easily identify the key elements so you can maximize your time developing your solution.

• Participant Role
• Company and Brief Description
• Deliverable
• Instructional Area

Performance Indicators

• Meeting Location

The performance indicators are your guide to a focused presentation! Apply them to the situation because they are always based on a real-life situation. Use industry knowledge that you have researched before competition to supplement what you know about your performance indicators. This helps demonstrate your proficiency.

What's the Ask?

At the end of any role-play situation, you are presented with what the judge is looking for from you. Make sure you address what the judge is asking while incorporating the performance indicators. You will want to wow your judge with your solution while explaining it by incorporating the performance indicators.

Communication is Key

Speak clearly so that the judge can understand what you are sharing with him/her. You have time to talk about your performance indicators within the situation—don’t rush and take the chance a judge didn’t hear you talking about something. Be natural and comfortable in your role in the situation. Nonverbal communication can be just as important as verbal communication. Smile and be confident to help demonstrate your professionalism.

Be Creative and Stand Out

Be calm, be professional and be enthusiastic. Don’t be scared of your competition. There are many creative ways to approach a role-play, and no one way is necessarily right, so focus on adding your own creative twist to what you do. Don’t just have a “Plan A”; exceed expectations by having options for your judge to select from if the situation calls for it. Setting yourself apart through innovation, creativity and quality ideas is the key way to stay in a judge’s mind long after all the competitors have finished presenting. What can you bring to the presentation that no other competitor will show your judge?

Connect with the Judge

Take time to make sure your judge is following your thoughts. You can ask your judge questions to make sure he or she has understood what you have shared. Near the end of the role-play, the judge will likely ask you questions. When you are preparing your presentation for the role-play, you may anticipate what questions the judge may ask. However, if you need a minute to consider the questions before answering, say so in a professional manner. This reflects your respect of his or her position and your desire to share an informed answer.

Speak the Language

When speaking with the judge, be as professional as possible, while still being personable and accessible. This means using accurate industry terminology when the situation calls for it. Do not be afraid to use sophisticated or rich vocabulary—with­out sounding like you’re just trying too hard to impress, because, of course, you still want to be relatable, friendly, and down-to-earth.

Make a Good Impression

Be friendly, make eye contact and give a firm handshake when you first meet your judge. Do not wait for them to introduce themselves; rather, take the initiative. While you might be nervous and feel awkward, taking initiative shows that you truly are mature, confident and comfort­able. Also, adhere to the dress code, because you come across as much more professional if you really do look like a business executive. You may also consider the career area in which you are competing. For example, as a competitor in Apparel and Accessories Marketing, you may want to wear something that will reflect an interest in fashion or a more creative point-of-view, without being outrageous. You want to leave a good impression with the judge, and of course, be rememberable.

WRITE IT LIKE  YOU MEAN IT

Participants in the Start-Up Business Plan will prepare a business plan proposal describing a business the participants want to develop. The body of the written entry must be limited to 10 numbered pages, including the appendix (if an appendix is attached), but excluding the title page and the table of contents.

WRITTEN ENTRY GUIDELINES

The written entry must follow the specifications provided in the Written Entry Guidelines section of the DECA Guide for the competitive event. In addition to the Written Entry Guidelines, participants must observe all of the standards on the Penalty Point Checklist. These standards are designed to make competition as fair as possible. Additionally, the Written Event Statement of Assurances and Academic Integrity Form must be signed and submitted with the entry.

Sample Written ENTRY

Written entry strategies, content is king.

The written entry is the foundation of your competitive event. It's your outline for your project or plan, and represents your process to achieving your outcome. Choosing the right written event and the right company, event, idea, product or topic is so important, because you want to be passionate about the work you will endeavor in this process. Be thoughtful when making your decisions using some of these key considerations:

• Is there enough data accessible?
• Can I get information I need from the company or about the product, event or idea?
• Are there real people I can engage with or enlist the help and expertise of?
• Is this cutting edge or has the potential to be?

First, But Last

The executive summary is one of the most important parts of your written entry. Not only is it likely to be one of the first parts of your entry the judge reviews, it also provides an overall summary of your entry. It should be dynamic, concise and effectively highlight the main points of your written entry all while including a call to action. Often, it is best to write the executive summary last so that you can identify the most relevant components to include. Some tips for an effective executive summary include:

• Start with a bang.
• Identify the problem solution and opportunity.
• Focus on what makes you stand out.
• Sell don't just tell.
• Include data and finances.
• Use graphics and formatting as appropriate.
• Imagine this is the only thing someone would read.

Review, Edit, Proofread

Once you have completed your written entry, review it against the written entry guidelines and written entry evaluation form to ensure you have addressed each item. If you believe items are missing or need improvement, revisit your written entry and improve those areas. You may also wish to ask consultants to read your written entry against the criteria and provide feedback. Often, that is the best way to determine if your written entry is clearly understood by someone other than you as the project creator(s). In addition, you should edit and revise your written work so that it is well-organized, professional, logical and error free.

Avoid Penalty Points

Penalty points can cause you to lose your chance for advancement quickly! Many times, they can easily be avoided. Some of the most common reasons for penalty points include:

• Not using the current year’s event guidelines.
• All participants or advisor not signing the Statement of Assurances.
• Leaving out sections in the body of the written entry.
• Having too many pages. Double check the number of pages allowed in your written entry.

Give your entry to a trusted advisor or peer to review against the Penalty Point Checklist.

PRESENT WITH PIZZAZZ

The participants will present the project to the judge in a 15-minute presentation. The judge is role-playing a potential source of capital for the business. The presentation begins immediately after the introduction of the participants to the judge by the adult assistant. Each participant must take part in the presentation.

PRESENTATION GUIDELINES

Each participant may bring a copy of the written entry or note cards pertaining to the written entry to use as reference during the presentation. Only visual aids that can be easily hand carried to the presentation by the actual participant(s)will be permitted. The participants themselves must set up the visuals. Wheeled carts, moving straps or similar items may not be used to bring visuals into the area. Set up time is included in the total presentation time. Participants must furnish their own materials and equipment. No electrical power or internet connection will be supplied. Alternate power sources such as small generators are not allowed. Sound may be used, as long as the volume is kept at a conversational level. Materials appropriate to the situation may be handed to or left with judges in all competitive events. Items of monetary value may be handed to but may not be left with judges. Items such as flyers, brochures, pamphlets and business cards may be handed to or left with the judge. No food or drinks allowed. If any of these rules are violated, the adult assistant must be notified by the judge.  

Presentation Strategies

First things first.

Consider your presentation your time to highlight the most important parts of your competitive event. In every case, you're trying to sell the judge that your idea, concept or plan is the best. Start with that in mind, and develop an outline for your presentation. Your ultimate goal is for the judge to choose your presentation. Consult the presentation evaluation rubric in the DECA Guide to ensure that your presentation includes information for all of the scoring criteria. You may also consider visual aids and if you'll use technology — but make sure they are relevant and meaningful to your presentation.

Brand Yourself A Winner

When creating your project and delivering your presentation, you are essentially developing a brand for yourself and your ideas. Make your presentation’s brand attractive and easy for your judge to remember by wrapping it in a strong visual package. Tie together all the elements of your project, from the charts and graphs of your written document, to your slide backgrounds, to the shirt you wear with a signature element, such as a particular color palette or pattern.

Stop, Look, Listen

A great portion of your presentation’s success isn’t dependent on what you say, but how you say it. Like any good speech, the judge may not recall every statistic, market segment or promotional idea that you deliver, but they will remember how you made them feel. That’s where confidence in your delivery comes in. Being excited, nervous and anxious about your presentation can cause your rate of speech to increase rapidly, making your words fly by in a blur. Always remember the power of pause. When practicing your presentation, incorporate pauses into your phrases. This will create a dramatic, ear-catching effect to keep your judge attentive to your presentation, plus it will emphasize important points and information. 

Eye contact is another way to connect with your judge. Locking eyes shows confidence in the points you’re delivering and is another way to keep your judge engaged in your delivery.

A memorable part of your delivery that will greatly affect how your judge feels is your tone of voice. Your tone should vary depending on the subjects you’re covering in your presentation. For example, presenting a charity that your Community Giving Project supports may be most effective with a serious, earnest tone, yet in sharing your creative marketing  ideas for an Integrated Marketing Campaign event, an excitable, vibrant tone would be great for expressing your creativity. No matter what tone you use, make sure you vary your expression. Nothing will lose a judge’s attention more than a flat, boring delivery that gives them no feeling about your topic. 

While relying on your innate ability to “wing it” is never recommended for competition, writing down paragraphs of perfect phrases, word-for-word, doesn’t guarantee that your presentation will turn out trophies either. Note cards are a handy tool to remember specific numerical data and exact quotes, but using them as a crutch for your memory could reduce your confident delivery, especially in form of eye contact with your judges. Instead, commit your presentation to memory as best as possible. If you thought it, developed it and wrote about it, you should be able, with a bit of practice, to present it well. Use your visual aid to help guide your talking points, with illustrations, diagrams or other images to help cue your words. 

Just because you reach your last slide doesn’t mean it’s time to thank your judge, shake hands and flee the room. The time after your formal presentation is crucial for further interaction with your judge. Take this opportunity to clarify parts of your presentation, show more of your personality and impress your judge with an ability to provide thorough answers to any questions they may have. The best way to flawlessly answer these questions is to prepare for them in advance. Use your advisors and peers as practice judges for your presentation, and request that they each ask you at least three follow-up questions to your presentation. You begin to become more confident delivering answers off-the-cuff and will begin to learn the most commonly asked questions of your presentation. Should your judge not immediately ask any questions, ask for them! 

To leave even more of an impact on your judge, provide them with a handout before you walk out the door, such as a brochure or outline. Use this strategy to highlight important takeaway points from your presentation, further brand yourself and your ideas, and keep a presence in front of your judge, even long after your final handshake. Make sure to have a final statement or call to action to show your judge that you’re interested in following through.

INSIGHTS INTO THE INDUSTRY

Industry trends are patterns or current happenings that occur within a specific industry. Keeping up with the industry helps give you a pulse on issues and trends that are affecting the industry. This knowledge can help you develop creative, relevant and timely solutions for your competitive event.

5 Things You Really Need to do when Starting Your Own Business

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Not only do these interactive competition preparation tools help you expand your industry terminology, understand performance indicators and check your comprehension through exam items, they also help you prepare for DECA competition!

Expand your vocabulary

Broaden your knowledge

Check your comprehension

DECA Direct Online is your source for competition tips and career insights. Check out these articles and more on DECA Direct Online as you prepare for competition.

3 Written Event Competition Tips To Consider

The ultimate written event guide, 4 things you must remember while public speaking, deca goes lean in entrepreneurship.

DECA+ ACCEPTABLE USE POLICY ‍ A DECA+ subscription is required for each DECA chapter wishing to access the resources within the DECA+ site. The login is to be used only by the chapter and its members, and the login cannot be shared beyond the chapter. Under no circumstances may any of the content, including but not limited to exams, scenarios or sample written entries, in whole or in part, or any item within be published or posted on any website. Under no circumstances may any of the content, including but not limited to exams, scenarios or sample written entries, in whole or in part, or any item within be shared or distributed beyond the specific DECA chapter that has purchased the subscription.  Any chapter(s) which violates the DECA+ distribution and use policy will not be allowed to participate in the current school year’s chartered association conference or the International Career Development Conference. If any exams or scenarios are posted on a chapter or chartered association website in way outside of the distribution and use policy, the chartered association will not be eligible to purchase exams or receive scenarios from DECA Inc. for a period of one year for the first offense. Furthermore, further access to DECA+ by the chapter(s) in violation will be prohibited effective immediately for a period of no less than three years.

DECA Goes Lean in Entrepreneurship

Beginning with the 2015-2016 school year, DECA will begin using new terminology and outlines in many of its Entrepreneurship Events. Specifically, DECA has adopted terminology associated with the lean business model canvas. This article will explain why the changes are being made, explain the major components of the lean business model canvas, and provide a list of resources to help advisors and members learn more.

Why is DECA Changing Its Entrepreneurship Events?

Each year DECA’s Competitive Events Taskforce meets in the winter to review a select grouping of DECA’s competitive events. During the 2014-2015 school year this committee met and decided that DECA’s Business Management and Entrepreneurship Events were becoming dated and were in need of revision. Input was sought and received from members of DECA’s National Advisory Board (Kauffman Foundation, International Franchise Association Educational Institute) and instructors of entrepreneurship at the secondary and postsecondary levels.

This taskforce took the responsibility and challenge very seriously. Ultimately, the taskforce decided that DECA should adopt the lean business model canvas as the foundation for its Entrepreneurship Events.

Why the Lean Business Model Canvas?

Input received from industry experts suggested that DECA’s business plan outlines were becoming less and less commonly used by entrepreneurs. The business model canvas and lean start-up canvas are now more commonplace in practice. Further investigation determined that the lean business model canvas mentality was the future and where DECA should align itself.

DECA strives to be at the forefront of industry trends and by adopting the lean business model canvas, DECA is now in a better position to serve instructors and students of entrepreneurship.

What is the Lean Business Model Canvas?

During the Competitive Events Taskforce’s work, it was discovered that more and more entrepreneurs are framing their business models using a “canvas.” The canvas is a way to present the key components of a business model on one piece of paper. Once the key components have been identified, the details of the business plan and model can be filled in using more detail. The lean business model canvas has nine sections or components.

Below are brief explanations of the components:

• Problem – In this section, members should list the top three problems their product/service is addressing.
• Customer Segments – In this section, members should list who the primary customers will be for their product or service.
• Unique Value Proposition – In this section, members should identify the single, clear, compelling message that states why their product/service is different and worth buying.
• Solution – In this section, members should identify the top three features of their product/service.
• Channels – In this section, members should determine the possible pathways to customers.
• Revenue Streams – In this section, members must explain the revenue model, determine life time values, describe the revenue, and determine gross margins.
• Cost Structure – In this section, members should calculate the customer acquisition costs, the distribution costs, the human resources costs, and any other additional costs.
• Key Metrics – In this section, members should identify the key activities that must be measured.
• Competitive Advantage – In this section, members should describe what about their product/service means that it cannot be easily copied or bought.

Note: Download the canvas template here .

Which Events Use Which Components of the Lean Business Model Canvas?

Download this chart to see which components of the lean business model canvas are used in each of DECA’s Entrepreneurship Events.

There are many, many videos, books, podcasts, online courses, seminars, etc. related to the lean business model canvas.

Below is a list of suggested resources to begin learning more about this topic:

• Capture Your Business Model in 20 Minutes – Lean Canvas
• The Lean Canvas Business Model – Creating The Killer Business Plan
• Lean Startup Summary
• Running Lean: Iterate from Plan A to a Plan That Works (Lean Series) by Ash Maurya
• Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers by Alexander Osterwalder and Yves Pigneur
• Value Proposition Design: How to Create Products and Services Customers Want (Strategyzer) by Alexander Osterwalder and Yves Pigneur
• The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses by Eric Ries

Online Courses

• Lean Canvas Course
• How to Build a Startup
• Business Model Canvas vs. Lean Canvas
• Lean Canvas Process and Examples
• Social Lean Canvas
• Lean Launch Lab

Discussion Questions

Classroom connection, career cluster:, instructional area(s):, performance indicators:.

DECA Announces Competitive Event Topics and Updates for 2024-2025

Get a head start on the 2024-2025 competition season with DECA's updates, topics and resources for next year's competitive events program.

Get Ready for Round Two of the DECA Virtual Business Challenge

The DECA Virtual Business Challenge (VBC) is an official competitive event free to high school members and hosted by Knowledge Matters. The event is based on the Virtual Business series of simulations and offers over $20,000 in scholarship money.

Test Your Skills with the Stukent Social Media Marketing Challenge

Do you have what it takes to be a successful social media marketing professional? The Stukent Social Media Marketing Challenge is your chance to compete using a social media marketing simulation.

Participate in the Knowledge Matters Digital Presentation Skills Challenge

The DECA/Knowledge Matters Digital Presentation Skills Challenge will test your skills at creating and delivering a digital presentation.

DECA prepares emerging leaders and entrepreneurs in marketing, finance, hospitality and management in high schools and colleges around the globe.

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DECA Competition: Startup Business Plan

The DECA Start-Up Business Plan involves the development of a proposal to form a business.  Every startup business starts with a business plan. The Startup Business Plan allows students to not only learn about how to write a business plan, but also organize their thoughts on how to start a new business.  The plan includes a written paper (up to 11 pages), an oral presentation, and can only have 1 participant. The paper includes an executive summary, the top problems, your product/service, customer segments, unique value proposition, the product/service features, channels of distribution, revenue streams, cost structure, key metrics, competitive advantage, and a conclusion.  The DECA Start-Up Business plan is similar to the DECA Independent Business Plan, but instead of involving the entire chapter, this event is for an individual who wants to test the waters of entrepreneurship. 

Print Fundraising’s learn & earn fundraising program is perfect to use as a DECA Start-Up Business Plan.  A new business must be organized and have a plan to be successful. That is why we have taken the time to write detailed content on how to start, manage, and market a new business and even cover how to write a successful business plan.  By using our available tools, a student can easily create a comprehensive business plan around our learn & earn fundraising opportunity. While we have made our fundraising opportunity as turn-key as possible, a student will be most successful if they take the time to create a detailed business plan on how to start, manage, and market a new decoration business. 

The best part of using our fundraising program as a DECA Start-Up Business Plan is not only can a student use it in event competition, but he or she will benefit from a financial standpoint as well.  This is what makes our fundraising opportunity so great- instead of just writing a business plan to use in competition, a student can benefit for the next several years by starting and growing a successful decoration business.  So if there is a student in your chapter who is not sure what event/project they want to compete in and has a future in entrepreneurship, consider having them lead your chapter to the ICDC using our one of a kind fundraising opportunity as a DECA Start-Up Business Plan.

• Project Managment

How to Create a Winning Deca Startup Business Plan

Introduction.

Deca is a startup business plan that seeks to provide innovative solutions to the challenges faced by small businesses. Our mission is to provide entrepreneurs with the tools and resources they need to succeed in the ever-changing business landscape. We believe that small businesses are the backbone of the economy and should be given the opportunity to thrive. Our goal is to provide entrepreneurs with the resources and guidance they need to create a successful business. We offer a comprehensive suite of services, including business planning, financial planning, marketing, and more. With our help, entrepreneurs can create a business plan that will help them reach their goals and achieve success.

Creating a winning Deca startup business plan requires careful consideration of the company’s goals, objectives, and strategies. A well-crafted business plan should provide a comprehensive overview of the company’s mission, vision, and values, as well as a detailed description of the products and services offered. Additionally, the plan should include a financial analysis, a marketing strategy, and a competitive analysis.

Step 1 : Establish the Company’s Goals and Objectives

The first step in creating a winning Deca startup business plan is to establish the company’s goals and objectives. This should include a clear statement of the company’s mission, vision, and values. Additionally, the plan should include a description of the products and services offered, as well as the target market.

Step 2 : Conduct a Financial Analysis

The second step in creating a winning Deca startup business plan is to conduct a financial analysis. This should include an assessment of the company’s current financial position, as well as a forecast of future financial performance. Additionally, the plan should include a detailed budget and cash flow analysis.

Step 3 : Develop a Marketing Strategy

The third step in creating a winning Deca startup business plan is to develop a marketing strategy. This should include an analysis of the target market, as well as a description of the company’s marketing objectives. Additionally, the plan should include a detailed description of the company’s marketing tactics, such as advertising, public relations, and social media.

Step 4 : Conduct a Competitive Analysis

The fourth step in creating a winning Deca startup business plan is to conduct a competitive analysis. This should include an assessment of the company’s competitors, as well as a description of the competitive advantages and disadvantages. Additionally, the plan should include a detailed description of the company’s competitive strategies.

Step 5 : Finalize the Plan

The fifth and final step in creating a winning Deca startup business plan is to finalize the plan. This should include a review of the company’s goals and objectives, as well as a review of the financial analysis, marketing strategy, and competitive analysis. Additionally, the plan should include a detailed description of the company’s management team and organizational structure.

By following these steps, entrepreneurs can create a winning Deca startup business plan that will help them achieve their goals and objectives. A well-crafted business plan should provide a comprehensive overview of the company’s mission, vision, and values, as well as a detailed description of the products and services offered. Additionally, the plan should include a financial analysis, a marketing strategy, and a competitive analysis.

The Benefits of Developing a Deca Startup Business Plan

Developing a business plan for a Deca startup is an essential step in the process of launching a successful business. A business plan is a comprehensive document that outlines the goals, strategies, and objectives of a business. It serves as a roadmap for the business, providing guidance on how to achieve its goals and objectives.

The benefits of developing a business plan for a Deca startup are numerous. First , it provides a clear vision of the business’s goals and objectives. This helps to ensure that the business is focused on achieving its goals and objectives in a timely and efficient manner. Additionally, a business plan can help to identify potential risks and opportunities that may arise during the course of the business’s operations. This can help to ensure that the business is prepared to address any issues that may arise.

Second , a business plan can help to attract potential investors and lenders. A well-written business plan can provide potential investors and lenders with an overview of the business’s goals and objectives, as well as its financial projections. This can help to increase the likelihood of securing the necessary funding to launch the business.

Third , a business plan can help to ensure that the business is properly organized and managed. A business plan can provide a framework for the business’s operations, helping to ensure that the business is running efficiently and effectively. Additionally, a business plan can help to ensure that the business is properly staffed and equipped to meet its goals and objectives.

Finally , a business plan can help to ensure that the business is properly marketed and promoted. A business plan can provide guidance on how to effectively market and promote the business, helping to ensure that the business is reaching its target audience. Additionally, a business plan can provide guidance on how to effectively manage the business’s finances, helping to ensure that the business is properly funded and managed.

In conclusion , developing a business plan for a Deca startup is an essential step in the process of launching a successful business. A business plan can provide a clear vision of the business’s goals and objectives, help to attract potential investors and lenders, ensure that the business is properly organized and managed, and help to ensure that the business is properly marketed and promoted.

Tips for Writing a Comprehensive Deca Startup Business Plan

1. Begin with an Executive Summary: Provide a brief overview of your business, including its purpose, goals, and objectives.

2. Describe Your Business: Explain the type of business you are starting, the products or services you will offer, and the target market you are aiming to reach.

3. Outline Your Business Model: Describe the business model you will use to generate revenue and profits.

4. Develop a Marketing Plan: Explain how you will market your business and attract customers.

5. Create a Financial Plan: Estimate the start-up costs, operating expenses, and projected income.

6. Identify Your Resources: Describe the resources you will need to launch and operate your business, such as personnel, equipment, and financing.

7. Develop a Risk Management Plan: Identify potential risks and develop strategies to mitigate them.

8. Outline Your Exit Strategy: Describe how you will exit the business if necessary.

9. Include Supporting Documents: Include any additional documents that support your business plan, such as resumes, contracts, and financial statements.

10. Proofread and Edit: Carefully review your business plan for accuracy and completeness.

What Investors Look for in a Deca Startup Business Plan

Investors look for a number of key elements when evaluating a startup business plan. The plan should be comprehensive, well-structured, and clearly articulate the company’s vision and objectives.

1. Executive Summary : The executive summary should provide a concise overview of the business plan, including the company’s mission, products or services, target market, competitive advantages, and financial projections.

2. Market Analysis : Investors want to understand the market opportunity and the competitive landscape. The market analysis should include an overview of the industry, an analysis of the target market, and an assessment of the competitive environment.

3. Business Model : Investors want to understand how the company plans to generate revenue and profits. The business model should include a description of the company’s products or services, pricing strategy, and sales and marketing plan.

4. Financial Plan : Investors want to understand the company’s financial projections and how the company plans to use the funds it raises. The financial plan should include a detailed budget, cash flow projections, and a break-even analysis.

5. Management Team : Investors want to understand the team behind the business. The management team should include a description of each team member’s qualifications and experience.

6. Exit Strategy : Investors want to understand how they will be able to exit their investment. The exit strategy should include a timeline for when the company plans to go public or be acquired.

By providing a comprehensive and well-structured business plan, entrepreneurs can demonstrate to investors that their startup is a sound investment.

How to Use Financial Projections in a Deca Startup Business Plan

Financial projections are an important part of any Deca startup business plan. They provide a roadmap for the company’s financial future and help to ensure that the business is on track to meet its goals. When creating financial projections for a Deca startup business plan, it is important to consider the following:

1. Estimate the startup costs . This includes the cost of any equipment, supplies, and other resources needed to get the business up and running. It is important to be realistic when estimating these costs, as they will have a direct impact on the financial projections.

2. Estimate the revenue . This includes any income that the business will generate from sales, services, or other sources. It is important to be realistic when estimating the revenue, as it will have a direct impact on the financial projections.

3. Estimate the expenses . This includes any costs associated with running the business, such as salaries, rent, utilities, and other overhead costs. It is important to be realistic when estimating the expenses, as they will have a direct impact on the financial projections.

4. Estimate the cash flow . This includes any money that will be coming in and out of the business. It is important to be realistic when estimating the cash flow, as it will have a direct impact on the financial projections.

5. Estimate the profits . This includes any money that will be left over after all expenses have been paid. It is important to be realistic when estimating the profits, as they will have a direct impact on the financial projections.

By taking the time to accurately estimate the startup costs, revenue, expenses, cash flow, and profits, a Deca startup business plan can be created with realistic financial projections. This will help to ensure that the business is on track to meet its goals and remain financially viable.

Strategies for Crafting an Effective Deca Startup Business Plan

1. Begin with an Executive Summary: Provide a brief overview of the business, its mission, and the goals you hope to achieve.

2. Describe Your Business: Explain the concept of your business, the products or services you will offer, and the target market you are aiming to reach.

3. Outline Your Financial Plan: Include a detailed budget, projected income and expenses, and any financing you may need.

4. Develop a Marketing Plan: Describe how you will promote your business, including online and offline strategies.

5. Create an Operations Plan: Outline the day-to-day operations of your business, including staffing, inventory management, and customer service.

6. Identify Your Risks and Challenges: Describe any potential risks or challenges you may face and how you plan to address them.

7. Include a Timeline: Establish a timeline for launching your business and achieving your goals.

8. Finalize Your Plan: Proofread and edit your plan to ensure accuracy and clarity.

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7 chatgpt prompts to start a business.

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No one would say that starting a business is a safe career path. By some estimates , 90% of startups fail. The cards are stacked against you. But as Adam Grant once wrote , “[G]reat entrepreneurs have a different response to the fear of failure. Yes, they’re afraid of failing, but they’re even more afraid of failing to try.”

Just because many businesses fail doesn’t mean that you shouldn’t try—especially if you have a great idea. What’s more, AI tools like ChatGPT are making it easier and less expensive than ever to start a business—even if you want to kick things off as a side hustle, as I did with my company nearly two decades ago. Had ChatGPT been around then, I probably would have quit my day job sooner.

If you’re considering launching a startup, here are seven ChatGPT prompts to help you each step of the way.

Generate Startup Ideas

In the business world, there’s a trope about founders following their dreams and chasing their passions. I’m sure that happens sometimes—an entrepreneur launches a business related to their passion, which translates to a successful innovation. But I think a more surefire way to build a successful startup is identifying a problem and figuring out how to solve it.

ChatGPT can be a second brain at the idea generation stage. Even if you reject all of the LLM’s ideas, you’ll have a wider pool to choose from.

Here is one prompt to get the ball rolling at this preliminary stage:

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“What are common issues faced by [target market] regarding [context]?”

For example: “What are common issues faced by journalists regarding recording interviews?”

(The results ranged from technical problems and ethical concerns to interviewee comfort and data management — so many angles to consider!)

Once you identify your target market’s issues and needs, you can ask ChatGPT to help brainstorm innovative solutions. Try the following prompt:

“Can you suggest innovative ways to [describe the issue and include the target market]? Please provide a list of 5 potential solutions."

Remember: the more context you provide, the more refined your answers will be. If, for example, you’re targeting a certain geographic area or age range, let ChatGPT know.

Validate Your Business Idea

So, you’ve come up with what sounds like a strong idea for a startup. A second opinion is essential. When I was starting out, I discussed my idea for an online form company at length with my mentor. I suggest doing the same. But if a second opinion is helpful, a third (or fourth) opinion is even better. ChatGPT can offer guidance on confirming the validity of your idea and strategies for ensuring financial feasibility—in other words, that your idea will be profitable.

One of the first things to check is the current landscape of the market. To help with your competitor research, you can ask ChatGPT:

“I am starting a business to [describe product or service]. Can you list the main competitors in the [industry] market?”

For a more fleshed-out reply, you can pinpoint additional information. For example: “Describe their strengths and weaknesses,” or “Who are their current customers?”

I’ve written before about how crucial it is to listen to users. They are an entrepreneur’s most important stakeholders. It doesn’t matter how brilliant your business idea is—if it’s not serving your users’ needs or solving their problems, it won’t succeed.

The listening process begins even before you launch your business. ChatGPT can help you tap into insight from potential customers. You can use this prompt:

"I am launching a business to [describe product or service]. What are some methods for collecting and analyzing potential customer feedback? Provide a list of 5 methods.”

You can then use these methods to ensure your business idea has traction. And if it doesn’t, you can use customer feedback to figure out how to tweak and refine it.

Craft Your Business Plan

Writing a business plan is a necessary but sometimes harrowing step in launching a startup. It’s no surprise that grad school programs dedicate semester-long courses to it. But you don’t need an MBA in order to lay out your business’s proposition. ChatGPT can help you to identify the most important elements (executive summary, market analysis, and financial projections) and build out each.

Even if you’re not seeking VC funding and instead are taking the bootstrapping route , mapping out your business plan is an important exercise for laying out your goals, figuring out how to get there, and staying on track.

Here’s a prompt you can use to get started:

"Can you help me draft an executive summary for my business plan? Please use the following details. The business name is [business name]. It is a [industry] business that [description and unique selling proposition]. The target market is [description of your target market]. My business aims to [needs/problems your business addresses]. It is different from competitors because [how your business stands out]. In the next [X] years, we aim to [revenue projections]. We also hope to [describe any other key metrics/KPIs]. Using this information, can you help me draft an executive summary?"

Next is the market analysis section. This part provides an overview of the current size of the market you want to serve, what your potential users are willing to pay, and revenue projections. ChatGPT can help you draft your market analysis with the following prompt:

"I am creating a business plan and need help drafting the market analysis section. My company is a [industry] business. The target market is [target market description — include as many details as possible]. My company will [description of the problem your company will solve]. Here is some information on the market size and growth potential: [any available date]. The main competitors are [competitors]. Can you draft a market analysis based on this information?”

Finally, as I’ve written before, a laser-focus on profitability is the only way to ensure that your startup will succeed, especially if you are a bootstrapper like me. Every business plan needs solid financial projections to assure your key stakeholders—and most importantly, yourself—that the business will be profitable.

Here is a prompt you can use to draft your business plan’s financial projections:

"I need help drafting the financial projections section for my business plan. Here is the key information. For funding, the company will require [amount needed, either VC funding or self funding]. In the next [X] year[s], I project revenue to be [amount]. I anticipate the company will be profitable in [timeline]. The most significant costs will be [costs]. Here are the key financial metrics: [e.g., gross margin, net income]. Can you use this information to draft financial projections for my company?”

Of course, financial projections are just projections. With so many factors constantly in flux, no one can predict a business’s profitability. But this will help you generate a basic financial picture of your fledgling company.

Final thoughts

If you’re in the early stages of starting a business, remember that all founders battle through a whirlwind of emotions. The struggle—and the fear—is real.

“What we regret is not failure, but the failure to act,” wrote Adam Grant . Hopefully, using the above prompts and ChatGPT, you’ll never regret not launching your business.

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How to Start a Business in 8 Steps: A Comprehensive Guide from Concept to Launch

Starting a business can be extremely exciting. But figuring out how to start a business can also feel overwhelming—particularly if you don’t have a clear sense of how to get from where you are now (an aspiring entrepreneur) to where you want to be (a successful, established one).

The good news is that there are clear steps to follow. Once you know these steps, you can create a road map that will take you from asking, “What do I need to begin a business?” to questions like “How did I get so successful?” or “Why was I ever worried?”

Here, we outline everything you need to know—whether it’s about how to start a business online, at home, with no money, or any other situation.

1. Finding your business idea

So, how do you start a business? The first step is coming up with an idea. You can’t start a business without a great one. You don’t want to throw spaghetti at the wall and see what sticks; instead, you should aim to take “a structured approach to ideation,” says business coach Yael Tamar .

What are your strengths? What kind of business do you want to build? What kind of customers do you want to work with, and which of their needs can you fulfill? It’s important to answer these questions because the key to a successful business idea is finding the intersection of what you want to do and what your ideal customers need .

“It's crucial to align your venture with both your passions and market demand,” says Jeff Mains, CEO of business growth consultancy Champion Leadership Group .

“Start by identifying problems you're passionate about solving,” Mains says. “This approach ensures that you have a genuine interest in your business, which is essential for long-term success.

“Also look for gaps in the market by analyzing current trends and customer needs,” he says. “Combining your passion with market opportunities increases the likelihood of finding a viable and fulfilling business idea.”

2. Conduct market research

Once you have a business idea you want to pursue, it’s time to do some research—more specifically, market research.

“It involves gathering data on customer demographics, conducting competitor analysis, and studying industry trends,” Tamar says. “This research helps validate business concepts and informs strategic decision-making.”

It can also help in the long-term, giving you the insights you need to lay the foundation for a successful business. “Effective market research also minimizes risks and ensures your business is well-positioned to meet market demands,” Mains says.

So, how do you perform the kind of market research you need to set your business up for success?

“Begin by identifying your target audience and understanding their pain points, preferences, and behaviors,” Mains says. “Use a mix of primary research, such as surveys and interviews, and secondary research, including industry reports and competitor analysis.”

In addition to audience research, you’ll also want to check out your competitors to see what they’re doing, what’s working (and what isn't), and how you can differentiate your company from others in the space—and grab your target audience’s attention in the process.

3. Create a business plan

Once you’ve come up with a business idea—and you’ve done the market research necessary to ensure it’s viable—it’s time to create your business plan.

There are a few different elements to a business plan. “Start with a clear executive summary that outlines your business idea, mission, and vision,” Mains says. “Follow this with a detailed market analysis, showcasing your understanding of the industry and target market.”

Plus, you’ll want to outline your business structure, product or service offerings, marketing strategies, and financial projections. Why? Because “a strong business plan not only guides your strategic decisions but also serves as a crucial tool when seeking funding from investors or financial institutions,” says Mains

Bottom line? “It integrates findings from market research into actionable steps aligned with long-term business objectives,” Tamar says—making it a must for starting, launching, and sustaining a successful business.

4. Take care of logistics

Next step on the list? Taking care of the logistical side of starting a business, which include:

• Choosing a business structure
• Registering your business
• Obtaining necessary licenses/permits
• Getting necessary insurance
• Opening a business bank account

From a logistical perspective, there are no universal solutions when starting a business. Much will depend on the type of business you’re trying to start.

For example, if you’re focusing on how to start a small business at home and you’ll be the only employee, you may not need physical liability insurance (since there won’t be any other employees working in your home). But if you’re figuring out how to start an online business—and intend to operate from a commercial space with other employees—physical liability insurance is generally a must.

Same thing goes for business structure (for example, being a sole proprietor or registering an LLC), business registration, permitting…pretty much all of it. Make sure to do your research and ensure you take all of the logistical steps needed to legally establish your business.

5. Find your funding

Funding is often where budding entrepreneurs get stuck. If you're wondering how to start a business without money , in full transparency, the answer is…you can’t. Whatever kind of business you’re starting, you’re going to need some money to get things off the ground.

But how much money you need to start a business—and where you ultimately get that money from—can vary widely.

In general, there are a few different funding options for starting a business, including:

• Self-funding . If you have money—and you’re willing to spend it on your entrepreneurial dreams—self-funding is a great option. (Particularly since you won’t have to pay any interest or give up equity in your company).
• Business loans . Loans are another option for getting the capital you need to start a business. The process of how to get a loan to start a business can be challenging; often, traditional lenders are wary of lending to brand new businesses. But there are loan programs out there that cater to start-ups—so doing research to see if you qualify is definitely worth it.
• Credit cards . If you can’t get a loan, credit cards (personal or business) can help to cover expenses as you build your business.
• Business grants. There are also a variety of grants out there that provide capital to qualifying applicants. For example, there are grants for women-owned businesses and minority-owned businesses. Grant competitions can also be great if you have a particularly interesting or innovative business idea. So, if you fit into any relevant grant categories, you’ll definitely want to explore how to get a grant to start a business.
• Friends and family . Asking friends and family to invest in your business is also an option. Just keep in mind that introducing money into personal relationships can be challenging—so if you do take money from loved ones, make sure the terms and expectations of the investment are extremely clear on both sides.
• Outside investors. Depending on your business model and industry, you may also be able to pitch outside investors, like venture capital firms or angel investors—which is more common in certain industries, like tech.

Build your dream business with the help of a high-paying job—browse open jobs on The Muse »

6. Get your systems in place

You’ve got your funding. You’ve got your business plan. But before you move forward in bringing your business to life, it’s important to lay the foundation for success by putting the right systems and processes in place.

Establishing systems and processes from the get-go can help make your business launch and growth significantly more smooth—and also can save time, energy, hassle, and money.

For example, before you start selling products, you’ll want to set up a secure online payment system. Before you start billing clients, you’ll need an invoicing procedure—and the software to implement those procedures. Before you start marketing, you’ll want to have a strategy and system in place to ensure you reach the right customers at the right time.

Systems and processes help you get organized—and if you want your business to be successful, you’ll want to take the steps to get organized before you launch.

7. Build your brand

Once you’ve got the backend of your business in place, it’s time to start thinking about the front-facing elements—the elements that make up your brand.

In order to launch a business, you’ll want to have certain branding assets in place, including:

• Brand color palette
• Brand fonts
• Brand voice
• Social media profiles

Building a brand helps to create a consistent experience for your customers and tell the story of your business to your target audience. “This is important for gaining recognition,” says Keith Donovan, a startup advisor and Founder of Startup Stumbles .

8. Launch and market your business

You’ve figured out how to begin a business. You’ve got all the pieces in place. Now it’s time to actually launch your business—and market that business to connect with your ideal audience.

“Making sure people know about your company is crucial,” Donovan says.

How you market your business is up to you. For example, “actions like creating social media pages, running advertisements and cultivating helpful content introduce potential buyers to the business and what it offers,” he adds.

You could also market your business in other ways, like:

• Local events
• Influencer partnership
• Print advertisements
• Cross-marketing with other businesses
• Email marketing

It’s not so much about how you market your business; it’s about how effectively you do so that will determine whether your company thrives or falters. Whatever methods you decide to go for, just make sure you’re invested in creating and implementing a marketing strategy that allows you to connect with your target audience and convert them into paying customers.

China's historic moon mission is just the start of its plans to dominate space

• China's lunar probe returned to Earth with the first-ever samples from the moon's far side. 
• The samples could answer crucial questions about how planets form.
• China is gearing up its bid to be the new dominant power in space. 

China just took a huge leap forward in its plans to dominate space.

On Tuesday, its Chang'e-6 lunar probe successfully returned to Earth carrying the first-ever samples from the moon's far side. 

A video showed an official triumphantly planting a Chinese flag near the capsule in Mongolia after it glided back to our planet by parachute.

The samples, which include 2.5 million-year-old volcanic rock, could answer crucial questions about how planets form, as well as the moon's history.

But they are significant for another reason too.

They signify China's growing prowess in orbit, as well as its potential to someday leapfrog the US in the race to dominate space.

The moon's far side

The moon's far side is considered particularly challenging to explore because of its craters and the difficulty of maintaining communications with vehicles landing there.

China is the only country to have landed in this tricky terrain and returned with samples. The latest mission, which launched on May 3, is China's second successful landing on the moon's far side, with the first launched in 2019.

Overall, it has soft-landed on the moon four times.

The US, meanwhile, has had less luck. In January , Astrobiotic launched a lander into space, with the aim of it being the first American spacecraft to soft land on the moon since the Apollo era.

But its hopes were quickly dashed after a fuel leak caused a failure in the spacecraft's propellant system.

Related stories

In February, Intuitive Machines, in collaboration with NASA, achieved a first: landing a US commercial spacecraft on the moon without crashing .

But that had complications. As previously reported by Business Insider, when the spacecraft touched down on the moon, it stopped communicating with mission control.

The recent moon-landing scoreboard is "4 to 0.5" in favor of China, Simone Dell'Agnello, a researcher who collaborated with Chang'e 6, told The Wall Street Journal. "The first difference is that China has missions landing on the fucking moon."

The space race heats up

China is now rivaling the US and Russia as a leading space power. It has its own manned space station, Tiangong, and in 2022 became the second country after the US to land a robotic vehicle on the surface of Mars.

Analysts believe that China's leader, Xi Jinping, sees huge economic and military opportunities in space. China is planning to send a crewed flight to the moon by 2030 and build a base at the lunar south pole.

The US is gearing up for its own space exploration missions and has rival plans to land a crewed flight on the moon and build a base.

The head of NASA, Bill Nelson, has said that the US and China are involved in a new "space race" and that China's research missions are being used for covert military activity.

He said that China seems to be accelerating its plans to send a crewed flight to the moon.

"It is incumbent on us to get there first," told Congress in April.

At stake are water supplies scientists believe may be on the moon's far side , which China could claim. These supplies would be vital for establishing a moon base or for further space exploration.

Pentagon officials have warned that China is seeking to potentially disable US satellites if a war breaks out between them.

China has insisted its space program is for the benefit of humanity.

But it's also a race for control of economic resources and military power in the intensifying rivalry between the US and China.

Watch: Why China launched military drills during Nancy Pelosi's visit to Taiwan

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Startup Business plan HELP

Hello, me and my group are the first place finalists for the Startup business plan event in indiana. We were wondering if someone could look over our paper and give u sa few pointers before we submit our final plan.

Negotiations between Klay Thompson, Warriors frozen as free agency looms: Sources

Klay Thompson isn’t currently mulling a shorter-than-desired offer from the Golden State Warriors . Despite a wide open negotiation window, there isn’t a one-year, two-year or three-year deal on the table. Because nothing is currently on the table, according to league sources. There’s been no productive discussion between the Warriors and Thompson or his representatives.

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Talks are essentially frozen. With free agency now less than 10 days away, Thompson’s exit from the only franchise he has ever known feels closer and more probable than ever before.

The Warriors have outwardly maintained their desire to bring Thompson back at the right price and in the right role, per league sources, but have viewed his situation as business to sort through after various other roster-building avenues have been explored. They’ve been actively searching for paths to larger-scale upgrades, using Chris Paul ’s non-guaranteed $30 million contract as a flexible tool. There’s been talk with Paul about possibly pushing that guarantee date back from June 28 into July, if necessary, per league sources, which would only be telling Thompson to wait longer.

If the Warriors can acquire a big name, high-salary player, that would significantly impact what they’re able to offer Thompson, considering their plan to duck the second apron and perhaps drop below the tax entirely. This calculated business approach — which has merit, considering the Warriors’ desperate need to improve an inadequate roster — can come off as cold to a franchise legend like Thompson , who won four titles in his 13 seasons with the Warriors but is being bumped far down the current offseason priority list.

Part of the Warriors’ calculus, it seems, is that Thompson could discover a lukewarm free-agent market and eventually return at a bargain rate. Controlling owner Joe Lacob, second-year general manager Mike Dunleavy Jr. and vice president Kirk Lacob are pulling the levers. Early indications are that that read of the market will be proven correct. Word is there are mostly shorter-term contracts out there for veteran free agents, partly why Malik Monk returned to Sacramento on a four-year deal at only $78 million.

There has been no traction between Thompson and the Orlando Magic , according to league sources, despite some initial mutual interest. There is expected to be interest from other cap space teams and some longer-term offers on the table in a market that can always move in unpredictable directions. It’s always possible Thompson’s best offers may end up smaller in money and shorter in years than many predicted or expected, leading some to presume that’ll lead back to an inevitable reunion with the Warriors at a rate both sides are comfortable.

But that’s not necessarily the case. Even if the Warriors eventually approach Thompson with a competitive offer, matching or exceeding the money and years, it has become increasingly conceivable, according to league sources, that Thompson will decide to leave regardless, searching for a fresh start in a different environment, detached from some of the built-up friction of the previous couple seasons.

Before last season, the Warriors and Thompson discussed the idea of an extension. Our Shams Charania reported talks were in the two-year, $48 million range. Nothing was ever close.

Some other quick buzz: Kevon Looney , drafted in 2015, has been a member of the Warriors for nearly nine years. It appears that his tenure will continue into next week. Only $3 million of Looney’s $8 million is currently guaranteed for next season. The other $5 million guarantees on Monday, presenting the possibility he could be released.

But that isn’t the Warriors’ current plan, according to league sources. They are expected to let the rest of Looney’s $8 million contract guarantee, keeping him in their current plans, though it does remain possible they eventually use his salary to help complete an offseason trade.

Looney still has value as a leader in the locker room and remains one of Steve Kerr’s favorite players, a voice he relies on during tense times but also a center he trusts on the floor. Looney was edged out of the rotation midseason by rookie Trayce Jackson-Davis — and would presumably enter next season behind Jackson-Davis on the depth chart — but Looney moved his way back into the rotation in April and appeared in their Play-In Tournament loss in Sacramento, guarding Domantas Sabonis for key stretches.

If the Warriors did release Looney and replace him with a minimum veteran center, they wouldn’t save much salary or tax regardless. There has been no talk of a release-and-re-sign of Looney, either, because he’d be expected to have interest on the open market from several rivals and would explore those options. As of now, Looney remains in the Warriors’ plan as he nears the decade mark with the franchise.

Required reading

• Klay Thompson’s market, Warriors coaching staff changes and other free agents to watch
• Klay Thompson to join Team Bahamas in Houston for Olympic training camp: Sources

(Photo of Thompson: Alex Goodlett / Getty Images)

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Anthony Slater is a senior writer covering the Golden State Warriors for The Athletic. He's covered the NBA for a decade. Previously, he reported on the Oklahoma City Thunder for The Oklahoman. Follow Anthony on Twitter @ anthonyVslater

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