Before beginning to write a business plan, the entrepreneur should complete a
A) thorough market analysis.
B) feasibility analysis.
C) patent application.
D) technical writing course.

Question

Quizplus · Accepted Answer

Before writing a business plan, it is essential to conduct a feasibility analysis to determine the viability of the business idea. This analysis includes examining the market demand, competition, potential customer base, and financial projections. A thorough market analysis is also recommended, but it is just one aspect of the feasibility analysis. Patent application and technical writing courses are not necessary for developing a business plan.

Before Beginning to Write a Business Plan, the Entrepreneur Should