COMM101 Midterm: Midterm Review.docx

• School: University of Waterloo
• Department: Commerce
• Course: COMM101
• Professor: Jessica Harrion

Document Summary

Model of business planning develop a single , basic business plan start business take info gathered from business operation s and refine and improve business plan (then expand the business) Characteristics of well-prepared plan far too slick, too fancy makes investors wonder if the person hide sth. purposeful, persuasive, economical, audience oriented. Seven delay sins: poorly prepared, has unprofessional look. 2: executive summary is too long, product development process is unclear, not clear about the pain (why would ppl buy the product, no clear qualification of the management team, financial projection are unreasonably optimistic. Get going: don"t wait to develop the perfect product or service. There will be plenty of time for refinement later. It"s not how great you start, it"s how great you end up. Starting the business allow us to gather info o. Define a business model: the best way to start an org. is to make meaning, most powerful motivator.