Question: Why is the business planning process an excellent exercise for any entrepreneur contemplating the start-up of a new venture?

Why is the business planning process an excellent exercise for any entrepreneur contemplating the start-up of a new venture?

Step by Step Solution

★★★★★

3.51 Rating (171 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

The business plan is a plan for getting traction with the ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

128-B-M-L-P (17).docx

120 KBs Word File

Students Have Also Explored These Related Management Leadership Questions!

Q:

An entrepreneur of a new venture has had no success in getting financing from formal venture capitalists. He now has decided to turn to the informal risk capital market. Who is in this market? How...

Q:

Why is the business cycle so important to economic analysis? Does the business cycle have any bearing on the stock market?

Q:

The owners of a new venture have decided to organize as a corporation. The initial equity investment is valued at $100,000, reflecting contributions of the entrepreneur and her family and friends....

Q:

The Virgin Group in 2012* At the beginning of 2012, Richard Branson was 61 years old and his Virgin group of companies had been in business for 43 years. Yet neither Branson nor his business...

Q:

Vertical analysis: Group of answer choices is an entrepreneur's best attempt to predict the future operational effectiveness, profitability, and cash flows of a business, often with the goal of...

Q:

Horizontal analysis: Group of answer choices is an entrepreneur's best attempt to predict the future operational effectiveness, profitability, and cash flows of a business, often with the goal of...

Q:

Objectives Identify the cash and resource needs of the new business. Prepare cash flow, income, and balance sheet. Description Building on your organization design, you will begin to put numbers to...

Q:

Instructions: Based on the root words provided, add a suitable affix or affixes (prefix or suffix or both prefix and suffix) for the blanks. The newly-formed word must fit the context of the text....

Q:

Case Analysis Critical thinking, creativity, and problem-solving are among some of the top skills needed by employers in the supply chain industry. This assignment will stretch your critical...

Q:

english business Question II (10 marks) Instructions: Based on the root words provided, add a suitable affix or affixes (prefix or suffix or both prefix and suffix) for the blanks. The newly-formed...

Q:

Consider the money market. In conducting monetary policy the Bank of Canada arranges the purchase and sale of Government of Canada securities with the chartered banks. a. Show changes (with a + or -...

Q:

An analyst gathers the following information about Meyer, Inc.: Meyer has 1,000 shares of 8% cumulative preferred stock outstanding, with a par value of $100, and liquidation value of $110. Meyer has...

Q:

1. Explain the difference between pretax financial income and taxable income.

Q:

How does the income statement report a firms profitability?

Q:

What actions in Exhibit 1 might have been key to making this project a success?

Q:

What key background factors led to making this project a success?

Q:

How does escalation work? Is escalation allowed in the escalation?

Q:

Brett is a 26 year-old researcher at Texas Parks and Widlife. He makes 558,000 per vear. Your firm uses an end age of 95 and a top-down ratio of 77%. Brett has 1 kid and wants to have another. Hed...

Q:

(Complex annuity) Upon graduating from college 35 years ago, Dr. Nick Riviera was already thinking of retirement. Since then, he has made deposits into his retirement fund on a monthly basis in the...

Q:

The following table presents information on four different open-end mutual funds. Use the information in the table to answer the questions that follow. The mutual fund True or False: YoI True False...