Without the right team, nothing else matters.Hindle and Mainprize (2006) outline five principles to help entrepreneurs project credibility: financial forecasts set in concrete) by the entrepreneurship team has a high likelihood of failure in terms of securing resources. And be able to defend assertions that the venture is attractive and sustainable and has a competitive edgeīusiness plan writers must strive to project credibility (Hindle & Mainprize, 2006), so t here must be a match between what the entrepreneurship team (resource seekers) needs and what the investors (resource providers) expect based on their criteria.The activities the company must perform to produce its product, deliver it to its customers and earn revenue.Brief and clear statement of how an idea actually becomes a business that creates value.what management can do to affect the context in a positive way.what management can or will do in the event the context turns unfavourable.how the context may change & affect the business & the range of flexibility or response that is built into the venture.how the context will help or hinder the proposal.Four key aspects describing context within which new venture is intended to function (internal and external environment).venture’s value from the market (% of market share proposed or market share value in dollars).magnitude of the opportunity or market size.the new combination upon which venture is built.Communicate these four aspects to distinguish the business concept, distinctive competencies, and sustainable advantages:.Nothing lasts forever-things can change to impact the opportunity: tastes, preferences, technological innovation, competitive landscape.you understand the importance of quantitative values (rather than just chronological dates).you understand the hazards of neglecting linkages between certain events.you have addressed the dual need for planning and flexibility.your major plan objectives are in the form of financial targets.Anchoring key events in the plan with specific financial and quantitative values. ![]()
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