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Why is it important to have a business plan?
Why is it important to have a 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
What is the purpose of writing a business plan?
What is the purpose of writing a business plan?
- 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
How does a business plan help in securing funding?
How does a business plan help in securing funding?
- 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)
What is one benefit of working along with your business plan?
What is one benefit of working along with your business plan?
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What mistake do people often make regarding a business plan?
What mistake do people often make regarding a business plan?
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