ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Small Business Administration
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SCORE
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Trade association
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Small Business Development Centers (SBDC)
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Detailed explanation-1: -SCORE was founded in 1964 as a national, nonprofit association of more than 10, 000 volunteers. Volunteers are real-world professionals with time-tested knowledge who donate thousands of hours to help small businesses succeed. Mentors are experts in such areas as: Accounting.
Detailed explanation-2: -Unrealistic Financial Projections. One of the biggest mistakes made in business plans are unrealistic financial projections. The assumption that a start-up business will immediately be profitable is often a naive mistake made by beginning entrepreneurs.
Detailed explanation-3: -A business plan is a document that defines in detail a company’s objectives and how it plans to achieve its goals. A business plan lays out a written road map for the firm from marketing, financial, and operational standpoints.
Detailed explanation-4: -The 3 most important purposes of a business plan are 1) to create an effective strategy for growth, 2) to determine your future financial needs, and 3) to attract investors (including angel investors and VC funding) and lenders.