Exam 12: Developing an Effective Business Plan

The entrepreneur should expect to encounter a friendly and supportive audience when presenting the business plan to potential financial sources.

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

How does a business plan benefit the entrepreneur?

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).

There are only two viewpoints from which a business plan should be written,the entrepreneur's and the financial source.

Which of the following statements would not be an appropriate guideline for successful business plan development?

The comprehensive business plan should be the result of

Which of the following describes advantages of the business plan for financial sources?

A business plan is

The easiest way to avoid the pitfall of no commitment or dedication is to designate that the venture is a hobby or a whim.