Which of the following is true about the preparation of a business plan?
A)The format should follow a "cookie-cutter" approach to ensure uniformity and consistency with others and to promote ease of understanding.
B)The elements of the plan may be standard, but the content should reflect the unique aspects of the business and the excitement of the entrepreneur.
C)The plan should cover every standard element in great detail and be at least 100 pages long to prove to potential lenders and investors that the entrepreneur has studied the business and the market opportunity.
D)The entrepreneur should avoid seeking the advice of professionals, such as accountants, business professors, and attorneys.

Question

Quizplus · Accepted Answer

The preparation of a business plan requires reflecting the unique aspects of the business and the excitement of the entrepreneur, even if the elements of the plan are standard. It is not necessary to follow a "cookie-cutter" approach or provide extensive detail in every standard element. Seeking the advice of professionals is also beneficial. Therefore, options A, C, and D are incorrect.

Which of the Following Is True About the Preparation of a Business