Importance of Business Plan

To test the feasibility of the business idea (correct)

To avoid using money unnecessarily

To skip the planning and jump straight into operations

To rely solely on investors for funding

To avoid the hassle of budgeting and market planning

To only consider broad objectives of the business

To pay attention to both broad and detailed aspects of the business (correct)

To secure funding from financial institutions only

By detailing the broad objectives without mentioning specifics

By ensuring the business idea is entirely unique

By avoiding any mention of market analysis

By providing a clear picture of the operational and financial aspects of the business (correct)

<p>Checking the feasibility of your business idea and choosing effective products</p> Signup and view all the answers

<p>Thinking of it as a one-time document during the initial phase only</p> Signup and view all the answers