Discuss below in a 200 words each:
Q1 Who are the primary consumers of business plans? In what ways do the people who read business plans differ in the information they are looking for?
Q2 Why is it important for the founders of a firm to continually measure whether the type of company they are envisioning, as described by their business plan, is consistent with their personal goals and aspirations?
Q3 Describe the general rules of thumb for the length and appearance of a business plan.
Q4 Why is it important for a firm to test the feasibility of its business idea prior to writing a business plan?
Q5 Why is it important for entrepreneurs who are writing business plans to "get out of the building" and ask potential customers and others for feedback on all elements of a business proposal?
Q6 What is an elevator speech? How can developing an elevator speech help a firm write a more effective business plan?
Text: Preparing Effective Business Plans
Q7 What four environmental trends provide the richest sources of new business ideas? List each environmental trend and provide an example of the type of business idea that it might create.
Q8 Describe the four categories of new business ideas and the most realistic categories for new firms.
Q9 Describe how a focus group is set up and how it can be used to generate new business ideas?