[BU121] - Midterm Exam Guide - Ultimate 21 pages long Study Guide!
Document Summary
B u s i n es s pl a n n i n g. Take it to banks, or venture capitalists to get funds. It is a detailed road map of how to proceed with the new venture living document gives you direction. 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.
