Exam 12: Developing an Effective Business Plan

Should a business plan/venture be turned down the first time, the entrepreneur should

A business plan __________ potential financial backers.

What are some of the errors made in the preparation of a business plan that minimize an entrepreneur's chance for success?

A common mistake in business planning is to purge all acronyms and technical jargon from the plan.

The pro forma balance sheet is used in the critical risk segment of the business plan.

An entrepreneur should include a three- to five-year financial projection so that the financial source can adequately evaluate the venture.

The textbook recommends which of the following devices to help in the oral presentation of a business plan?

Which of the following is not a critical factor that should be addressed in planning a venture?

One of the benefits of a business plan for a financial source is that it forces the source to view the plan for miscalculations.

An indicator of the planning pitfall of "no realistic goals" is

Which of the following statements is not part of the "five-minute reading" by venture capitalists?

An indicator of the planning pitfall of "no commitment or dedication" is

The major purpose of a business plan is its utilization as a working document.

How should an entrepreneur prepare to present his or her business plan?

The financial segment includes

Which of the following is part of the marketing segment?

A critical point to be included in the business description is:

A "niche" is a homogeneous group with common characteristics (i.e., all the people who have a need for a newly proposed product or service).

A business plan is

After delivering a pitch, it is not acceptable to question venture capitalists who turn down a funding opportunity.