1.A business plan is a written document that sets out the basic idea underlying a business and related start-up considerations.
2.Existing businesses have a history to draw upon in making projections, and data about everything trom historic to expected sales revenues is easily available.
3.However, entrepreneurs who use the need for action as an excuse to neglect planning are making a big mistake.
4.Both investors and lenders use the business plan to better understand the new venture, the type of product or service it offers, the nature of the market, and the qualifications of the entrepreneur and the management team.
5.Given the fundamental differences in perspective between the investor and the entrepreneur, the important question becomes“How do I write a business plan that will capture a prospective investor's interest?”
6.Investors frequently say that they would rather have an“A”management team and a “B”product or service than a“B”team and an “A”product.
7.Ideally investors desire a well-balanced management team--one that innovative talent. Management experience in related enterprises and in other start-up situations is particularly valuable in the eyes of prospective investors.
8.A production-oriented philosophy emphazsizes the product as the most important part of the business. The firm concenrrates on producing the product in the most efficient manner, even if this means slighting promotion、distribution and other marketing activities.
9.To be marketable, the basic product must be named, have a package, perhaps have a warranty, and be supported by other product components.
10.Once an entrepreneur has found a name or symbol that is unique, easy to remember and related to the product or service, an attorney who specializes in trademarks and service marks should be hired to run a name or symbol search and then to register the trade name or symbol.
11.A successful product offering will consist of a concept that has a comprehensive package that includes the core features to meet the needs of the consumer and additional secondary features that ensure an overall enhanced expensive.
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