Guide Questions:
a. What should you do before finalizing your business plan.
b. What will be your basis in determining the parts of your business plan
that require improvement or revisions?
c. Why should we consider the results of an evaluation tool before
making the final copy of your business plan?
Answers
Answer:
a. Take these steps to evaluate your idea before setting up a business: Write your business plan. Assess market demand. Research your direct and indirect competitors.
- Ask for feedback on your idea.
- Write your business plan. ...
- Assess market demand. ...
- Find your competitors. ...
- Get to know your customers. ...
- Ask for feedback.
b. The executive summary the most important part of your business plan, and perhaps the only one that will get read so make it perfect! The executive summary has only one objective : get the investor to read the rest of your business plan.
c.By listening to your customers' experiences, you'll reduce returns and ensure you only sell quality products that shoppers actually want to buy. Customer feedback can also highlight the best features of each product, allowing you to run better promotions and improve your product descriptions.
Conclusion. A business plan conclusion, doesn't need to be very long, in fact, it can be pretty brief. Your conclusion should; reiterate the opportunity, highlight the key strengths of your plan, summarise your vision, and remind the reader why your business is in a position to successfully execute the plan.
Explanation:
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