BUISENESS MANAGEMENT
BUSINESS PLANNING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To explain the business idea and where it came from
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Forecasting product sales accurately
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To include details about the owners
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To find an appropriate format to present the plan
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Detailed explanation-1: -This is Option No. 2. Final Answer: A Major problem that an entrepreneur might encounter when writing a business planfor the first time that is, Forecasting product sales accurately.
Detailed explanation-2: -The top 10 challenges faced by entrepreneurs today Cash flow management. Hiring employees. Time management. Delegating tasks.
Detailed explanation-3: -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.
Detailed explanation-4: -“The most difficult part of writing a business plan is the financial section. It is difficult to project figures on a brand-new business with, possibly, a brand-new concept. There is not roadmap, no one to follow. The best you can do is find a similar company and try to gauge what they are making.”