ENT 526 Lecture Notes - Lecture 3: Compound Annual Growth Rate, Hockey Stick, Business Plan

• School: Ryerson University
• Department: Entrepreneurship and Strategy
• Course: ENT 526
• Professor: Sean Wise

Document Summary

Business plan documents which consists of executive summary, opportunity, etc. Start with independent data: research, unbiased to their own idea, sunk bias bias increase and your commitment to the project increases. Business plans are made for yourself: setting goals, not in the plan don"t do it, to get organized. Should contain all the information the investor needs to make a decision. Entrepreneur need to be reasonable not right: cannot predict the future. 7 p"s of investment: cagr cumulative annual growth rate. Invest in the person not the business: needs a high adversity quotient. 7 p"s rated highest to the lowest harder to change as you go down the list. Find the 7 p"s in the business plan. Domain knowledge knowledge about the industry: someone who gets the industry, knows trends. Business acumen people who make good judgment and quick decisions: past experience, owns prior businesses, proven track record. Operational experience warehouse operations, software experts, shipping expert.