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notes.docx

2 Pages
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Department
Business
Course Code
BU121
Professor
Laura Allan

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Description
Business Planning The Art of the Start  Most important things an entrepreneur must accomplish o Make meaning  The most powerful motivator isn’t power or money but making the world a better place o Make mantra  Need to meet the needs of all the stakeholders involved and what each of them wants from the business o Get going  Build a prototype and get it out to the market  Take risks o Define a business model  Understand and strategize how you are going to make money o Weave a MAT – milestones, assumptions, tasks  Milestones are the points you need to reach (financially)  Assumptions is what you are basing everything on  Tasks are the things you need to do Why write a business plan  Detailed roadmap for converting ideas and visions into a real functioning business  Provides entrepreneur a clear understand the best way to proceed Benefits of Writing a Business Plan  Encourages to formulate specific goals and plans  Converts ideas into viable companies and raises capital  Explain what the new venture is trying to accomplish and how it will go about attaining these goals Model of Business Planning business based Prepare a on experience Continue to grow relatively simple and use the the business - business plan. Actually start the revised plan to produce and This will ontain business run the business market the initial funding. and secure product, hire
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