If a venture intends to use the business plan to raise capital, it is important for the team to do what?

Question

Quizplus · Accepted Answer

If a venture intends to use the business plan to raise capital, it is important for the team to do the planning and write the plan itself. This will help the team to articulate their vision, strategy, market analysis, financial projections, and other important details to potential investors. It will also help the team to identify potential risks and challenges and develop a plan to mitigate them. Seeking advice from key investors and incorporating their feedback is also important, but it should be done after the initial draft of the plan is completed. It is not advisable to put the business plan on hold or put the customer off as it may negatively impact the venture's credibility and reputation.

If a Venture Intends to Use the Business Plan to Raise