Prior to writing a comprehensive business plan the entrepreneur should have completed a(n)
A) feasibility study
B) executive summary
C) financial projections
D) mini-plan

Question

Quizplus · Accepted Answer

Completing a feasibility study is crucial in determining the viability of a business idea before investing time and resources into developing a full business plan. A feasibility study would assess factors such as market demand, competition, target audience, potential profitability, and any potential risks or challenges. Once the entrepreneur has completed the feasibility study and determined the idea is feasible, they can move on to writing a comprehensive business plan that includes an executive summary, financial projections, and a detailed mini-plan.

Prior to Writing a Comprehensive Business Plan the Entrepreneur Should