Before starting on his new venture, Mike writes down the specifics of his ideas, the amount of money needed, and future business operations. Mike is involved in preparing a _____.

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Mike is preparing a business plan which includes the specifics of his ideas, the amount of money needed, and future business operations. A succession plan involves identifying and developing potential successors for key positions in a company. A business portfolio is a collection of different businesses or products owned by a company. A competitive analysis involves identifying and analyzing the strengths and weaknesses of competitors in the market. A mission statement is a statement that defines the purpose and goals of a company.

Before Starting on His New Venture, Mike Writes Down the Specifics