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Creating and rtarting the Venture * ñ
Business Plan also known as Game plan or Road map, answers the questions; where am now? Where am going? How will get there? potential investors, supplies and even customers.
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The business plan may be read by employees, investors, venture capitalists, suppliers, customers, advisers and consultants. rince each of these groups read the plan for different purposes, an entrepreneur must be able to satisfy the needs of everybody. Whereas in the actual marketplace, the entrepreneur¶s product will be trying to meet the needs of selected group of customers.
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This self-evaluation is similar to role playing, requiring the entrepreneur to think through various scenarios and consider obstacles that might prevent the venture from succeeding.
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nvestors or venture capitalist are more interested in the character of entrepreneur as they will be investing large sum of capital and expect cashing out within five or seven year. Venture capitalist will play an important role in actual management of business hence wants to ensure the willingness of acceptance of this involvement.
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