Deck 8: The Business Planning Process

Question 1

It's best to keep an idea to yourself until it has been patented and developed.

Answer 1

False

Question 2

There are no regulations or restrictions on who business owners can seek capital from in Canada.

Answer 2

False

Question 3

Roger's Communications, a communications and media company, made a conscious effort to dramatically improve customer service and transparency in fees to its customers.

Answer 3

True

Question 4

Product development has rapidly evolved from the agile development to waterfall method.

Question 5

Having a unifying theme is an important part of the business plan story.

Question 6

Considerations in your offering section should include

A) Asking for enough money to last 12-18 months
B) Not asking for more money than you need.
C) Not detailing the sources and uses of funds over time.
D) None of the above
E) A and B f) B and C

Question 7

One of the most pressing challenges for entrepreneurs is to maintain adequate levels of cash. Which of the following is the best way to ensure that a lack of cash does not bankrupt your startup?

A) Raise initial capital.
B) Give your customers, both businesses and individuals, generous credit terms.
C) Carefully monitor your burn rate.
D) Avoid accepting too much early capital in exchange for diluting your equity.
E) Answers A and B.

Question 8

What is a key element of the elevator pitch?

A) Irrefutable - the pain statement should not be subjective
B) Greed Inducing - should illustrate how an investor can make money
C) Easily Understandable - simple enough that both an investor and your Grandmother could understand it
D) Succinct - short enough to be said in 3 to 4 sentences or 1 to 2 minutes
E) All of the above.

Question 9

Kickstarter and Indiegogo are examples of what type of marketing and financing platform?

A) Angel investing
B) Micro-finance
C) Crowd Sourcing
D) Direct Mail advertising
E) None of the Above

Question 10

What type of business plan was not mentioned in this chapter?

A) Agile Method
B) Business Model Canvas
C) Lean Canvas
D) Waterfall
E) Project Delegation Method

Question 11

What are the 7 Ps that investors look for? List chronologically, from most important to least important.

Question 12

How and why would you use a persona in your business plan?