What is the first step to take after selecting a new business venture?
A)Purchase 1,000 units of the new product.
B)Look at real estate properties to locate the office.
C)Hire employees to divide the workload.
D)Write a business plan.

Question

Quizplus · Accepted Answer

Writing a business plan is the first step to take after selecting a new business venture. A business plan outlines the goals, strategies, operations, and financial projections of the new venture. It helps to evaluate the feasibility of the business, identify potential challenges, and develop a roadmap to achieve success. Purchasing units of the new product, looking at real estate properties, and hiring employees come at a later stage in the business development process.

What Is the First Step to Take After Selecting a New