Exam 10: Planning for Entrepreneurs

What question are you answering in your plan when you describe the needs your product or service fulfills for your customer,the problems you are solving for them,and any evidence you have to show that your potential customers will want to buy your offering?

What important fact did the founders of Blue River Technology find out during the feasibility study?

What type of plan are traditional investors and bankers likely to require?

What is the traditional length of a business plan?

When preparing financial projections for a business plan,be ______ in your estimates.

All businesses,regardless of size,need a formal business plan.

A type of visual plan that is especially useful for identifying gaps in the business idea is called a ______.

Imagine that you are thinking of starting a home care business for those recovering from illness or requiring home assistance.What research would be appropriate when preparing a feasibility study?

Of the following,what is the best time to write a business plan?

The key to a feasibility study is ______.

Dr.Emmet (Tom)Thompson believes ______ is the key to success.

The planning exercise that involves getting out of your usual working environment and imagining what the business could look like in three years is called ______.

When writing a business plan,what is the most effective way to incorporate visuals?

The purpose of a pitch deck is to help the entrepreneur determine if a venture is viable.

______ help(s)you get out of your head and see your idea for what it really is.

The feasibility study should be shared with ______.

Planning is the same as a plan.

Killian decides that he needs a few days away from it all to think out his ideas.He takes up an offer from a friend to spend a few days in his mountain cabin.During this time,Killian imagines what his business will look like in 3 years.He pictures his customers using his product and coming into his facility.Killian is engaging in a practice called ______.

What question are you answering in your plan when you compare a competitive analysis?

It is important to remember that only a business plan can be used to obtain funding.