The first professional I reviewed is a professor at Loyola University in New Orleans named Brenda Joyner. She addresses the topic on why a business plan is necessary. Although it’s the beginning of a process to raise capitol for a business it’s a blue print. It shows investors that you’re serious about the business you’re attempting to start up. It give you respectability with the investors because its evidence that you actually took the time out to do your homework before presenting your proposal. A business plan demonstrates knowledge and awareness of what your doing. The benefit of having a fine tuned business plan is it increases the likelihood of getting the funding your seeking. Having one shows preparation and wherever you may go to raise capitol it gives off a sense of professionalism. That means the quality of a business plan should reflect. Being realistic and as accurate as possible in every section will lower the room for mistakes. Also including the potential risk in your business plan can assist the valid information. The second professional I reviewed is a professor by the name of William H. Crookston. He expresses the importance of having a business plan and why this step should not be over looked. Like your first child, if you can’t develop or write a solid business plan just imagine how your second child the actual business is going to turn out. A business plan is like a resume for your business. It shows a pervious track history and what you as the founder is capable of. It also gives potential investors a little insight on your intentions for a company from start to end at a certain point in time. A business plan helps them to figure out where your going and people are more willing to support you if you have one. It takes on the role as being a sale, financial and startup guide document all in one. With out one your blind folded just stumbling around in the dark.
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