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Business Plan also known as Game plan or Road map, answers the
questions; where am ‘ now? Where am ‘ going? How will ‘ get
there? potential investors, supplies and even customers.
Creating and rtarting the Venture
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The business plan may be read by employees, investors, venture
capitalists, suppliers, customers, advisers and consultants. rince each
of these groups read the plan for different purposes, an entrepreneur
must be able to satisfy the needs of everybody. Whereas in the actual
marketplace, the entrepreneur¶s product will be trying to meet the
needs of selected group of customers.
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This self-evaluation is similar to role playing, requiring the
entrepreneur to think through various scenarios and consider
obstacles that might prevent the venture from succeeding.
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‘nvestors or venture capitalist are more interested in the character of
entrepreneur as they will be investing large sum of capital and expect
cashing out within five or seven year. Venture capitalist will play an
important role in actual management of business hence wants to
ensure the willingness of acceptance of this involvement.
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These functions may be a formal part of the organization with assigned


responsibility to the directors depending on the needs of the new venture.
The job description of board of directors should be dearly spelled out and the
chairman should provide appraisal on each board member. They may be
compensated with stock option or salary
Organizational Plan for the New Venture


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