21 Questions
Which of the following is NOT included in a concept statement?
Financial projections
What is the purpose of a pitch deck?
To present to potential investors
Why is it important to research the industry?
To identify competition
What is the value of writing a formal business plan?
It can be debated
What is the recommended approach when it comes to planning documents?
Avoid analysis to paralysis
What should entrepreneurs prioritize over writing planning documents?
Gaining customer insight
What is the purpose of a pitch deck?
To present to potential investors
Why is it important to research the industry?
To identify competition
What is the value of writing a formal business plan?
It can be debated
What is the recommended approach when it comes to planning documents?
Avoid analysis to paralysis
What should entrepreneurs prioritize over writing planning documents?
Gaining customer insight
Which type of plan is often called the 'launch plan' and is used to get next meetings with potential investors, apply to incubator programs, win competitions, and secure funding?
Pitch Deck
What is the purpose of a business model canvas?
To visualize how all parts of the business work together
Which plan type is a tool that allows entrepreneurs to assess if they have the time, energy, abilities, and resources for their business idea?
Feasibility Study
Which plan type is a concise, professional document that is 2-3 pages in length and is used with investors, advisors, and other stakeholders?
Business Brief
Which plan type is the most formal planning document that is required by traditional investors and bankers?
Business Plan
What is the main focus of a feasibility study?
Assessing the size of the market and the skills of the entrepreneur
What is the main purpose of a pitch deck?
To secure funding and get next meetings with potential investors
What is the recommended length for a business brief?
2-3 pages
What is the recommended length for a pitch deck?
10-20 slides
What should entrepreneurs focus on when writing a business plan?
Explaining how the product or service will be delivered
Test your knowledge on entrepreneurial planning process and the different types of plans, including the Business Model Canvas, with this quiz.
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