A business plan is important as it forces the founding team to systematically think through every aspect of their new venture and ________.

Question

Quizplus · Accepted Answer

A business plan serves as a communication tool to showcase a new venture to potential stakeholders, such as investors and bankers. Furthermore, it helps the founding team consider and plan every aspect of their business systematically. While a business plan may contain budgeting and financial analysis sections, it is not primarily focused on these aspects. It is also not a contract or a public relations document.

A Business Plan Is Important as It Forces the Founding