NEW VENTURE CREATION: FROM FEASIBILITY CONCEPT TO BUSINESS PLAN Simply stated, feasibility is about the business idea and testing the business concept. The business plan is about the execution strategy that will bring that idea to market. The business plan serves three purposes: (1) it serves as a reality check […]
Business Plan
WHY BUSINESS PLANNING IS IMPORTANT FOR BUSINESS SUCCESS …Key steps in the planning process Business planning, also known as strategic planning or long-range planning, is a management directional process that is intended to determine a desired future state for a business entity and to define overall strategies for accomplishing the […]
It is not uncommon, particularly if the plan is being used to seek capital, for the entrepreneur to be asked to do a presentation of the business concept, highlighting the key points of the business plan. Usually this occurs after the potential funders have read the executive summary and perhaps […]
The following are errors that entrepreneurs commonly make when developing a business plan, particularly when the audience is made of investors. 1. Projecting rapid growth of a venture beyond the capabilities of the founding team. This is a common problem. The new venture shows potential for rapid increasing demand, sales […]
Mistakes In Developing A Business Plan The following are some errors that entrepreneurs commonly make when developing the business -plan, particularly when the audience is made up of investors. 1. Projecting rapid growth beyond the capabilities of the founding team. This is a common problem. The new venture shows potential […]
A business concept is a concise description of an opportunity that contains fo0ur critical elements: the customer definition; the value proposition (or benefit to the customer) and the compelling story, the product /service; and the distribution channel or means of delivering the benefits to the customer. The business concept can […]
