BU121 Study Guide - Midterm Guide: Post Hoc Ergo Propter Hoc, Customer Relationship Management, Plaintext
Document Summary
Bu s i n e s s pl a n n i n g. It is a detailed road map of how to proceed with the new venture living document gives you direction. Take it to banks, or venture capitalists to get funds. Entrepreneurs who prepare a business plan are more likely to attain success that those who do not. Model of business planning: develop a single, basic business plan, start business, take information gathered from business operations and refine and improve business plan. Persuasion plays big role; venture capitalists quickly look and if argument is not persuasive, plan will be rejected. The plan is poorly prepared and has an unprofessional look: no mistakes. The plan is far too slick; too fancy makes the investor wonder if the person is hiding something. The exec summary is too long and rambling. It is not succinct: not worth the time.
