The most important thing an entrepreneur does before launching a venture is to complete a(n) ______________. This is a written document that summarizes a business opportunity and articulates how the identified opportunity is to be exploited.

Question

Quizplus · Accepted Answer

A business plan is a comprehensive document that outlines the business idea, market analysis, target audience, marketing strategy, financial projections, and implementation plan. It is essential for the entrepreneur to have a business plan before launching the venture to have a clear understanding of the market, competition, and financial expectations. The other options may be part of the business plan, but none of them encapsulate the entirety of the plan.

The Most Important Thing an Entrepreneur Does Before Launching a Venture