ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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it makes you think about all aspects of your business
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it helps you communicate your ideas to others
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it guarantees you will get financing for your business
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it can serve as a tool for managing your business
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Detailed explanation-1: -Business plans can help you get funding or bring on new business partners. Having one in place will help investors feel confident that they will see a return on their investment. Your business plan is the tool you will use to persuade others that working with you (or investing in your business) is a smart decision.
Detailed explanation-2: -The primary purpose of a business plan is to help you figure out where you want to go with your business and how you’re going to get there. It helps you set your direction and determine a winning strategy. A solid business plan will set your business up for success and help you build an unbeatable company.
Detailed explanation-3: -To raise money for your business. Potential investors or lenders want a written business plan before they give you money. To make sound decisions. To help you identify any potential weaknesses. To communicate your ideas with stakeholders.