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For instance, a book entitled Under the Radar: Starting Your Net Business without Venture Capital, Venture capitalists often find that many business plans are too optimistic (Kling 2001). The book asserts that,
Trying to obtain venture capital funding without a business plan is like trying to get into college without filling out an application. Ironically, however, even venture capitalists are skeptical about business plans. Any venture capitalist will tell you that a first-rate team with a second-rate business plan is preferable to a second-rate team with a first-rate business plan. In fact, when I listen to venture capitalists describe how they make their decisions, the process often sounds highly intuitive and almost romantic -- like the scene in the movie Jerry Maguire where his girlfriend says, "You had me at 'Hello." Venture capitalists often complain that the business plans they see are ridiculously optimistic (Kling 2001)."
How to make a good business plan
Indeed a good business plan should certainly contain all of the above-mentioned elements. In addition, the plan should encompass the full scope of business operation and clearly define the goals of the business. In addition, it should contain pertinent financial information about the business. Having such information will prove beneficial when the company attempts to secure venture capital or other types of funding.
A good business plan should also be realistic concerning their goals and the overall outlook for the company and industry. The business owners should be optimistic but also realistic about what the business can accomplish. Overall,...
In addition, we also discussed small business plan, the development of such a plan and the advantages and disadvantages of a business plan. Our discussion found that the definition of a small business is dependent upon the industry to which the business belongs. We also found that small business is at the forefront of economic productivity throughout the world. The discussion also found that the creation of a business plan is crucial and essential to a successful business. The investigation suggest that a business plan allows a business to secure funding.
References
Writing the Plan. Small Business Administration. http://www.sba.gov/starting_business/planning/writingplan.html
What is a Small Business. Small Business Administration. http://www.sba.gov/size/
Vital Role of Small Business Demands Greater Recognition. 2002. Canadian Speeches. Volume: 16. Issue: 5. Publication Date: November-December 2002. Page Number: 46+.
Anglund. Sandra M. 2000. Small Business Policy and the American Creed. Praeger: Westport, CT.
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Small business owners should consider numerous business ratios. The measures of liquidity enable the business to live within the day-to-day expenses. These short-term obligations must be fulfilled by the business. Measures of liquidity are obtained through the two main features in the current ratio and net working capital. The ratio between the current assets and current liabilities should be considered by the business. Activity ratios are another business ratio that
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Sage, who has seen how costly application customization can be, has created a series of template-based charts of accounts, with the last count indicating they had over 70 of Charts of Accounts that could be quickly used by customers to customize for their business. Sage has also seen that inordinate customization of software can lead to a lack of adoption; hence their motivation for creating a library that can
Small Business Owner: Financial Ratios Understanding concepts Financial analysis is one of the most reliable means of assessing an economic agent as it relies on quantitative data, which is unbiased, objective and which can be extrapolated. Still, despite these advantages of financial analysis, fact remains that its results can generate relative findings based on the characteristics of the assessed company. For instance, while a small size company would be more interested in