Write Your Business Plan audiobook cover - Get Your Plan in Place and Your Business Off the Ground

Write Your Business Plan

Get Your Plan in Place and Your Business Off the Ground

The Staff of Entrepreneur Media, Inc.

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Entrepreneurship

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Write Your Business Plan
Purpose & Goals+
Audience Customization+
Risk Management+
Executive Summary+
Industry & Customers+
Management Team+
Appendix & Extra Material+
Presentation & Design+

Quiz — Test Your Understanding

Question 1 of 8
What is a potential downside of securing venture capital funding mentioned in the text?
  • A. Dealing with high commissions and complicated paperwork.
  • B. Investors insisting on making management decisions or joining your board.
  • C. Being forced to pay extremely high interest rates immediately.
  • D. Having to settle for slow, stable growth instead of rapid expansion.
Question 2 of 8
How should a business plan be tailored for angel investors compared to bankers?
  • A. It should focus strictly on cash-flow statements and balance sheets.
  • B. It should include detailed information on employee stock options.
  • C. It should be less formal and focus more on the emotions and purpose behind the pitch.
  • D. It should highlight the company's manufacturing processes and factory layouts.
Question 3 of 8
What does the text describe as 'analysis paralysis'?
  • A. Overestimating sales growth, causing investors to lose trust in your projections.
  • B. Spending so much time analyzing and planning that you fail to execute, allowing competitors to take over.
  • C. Providing too much financial data in the executive summary, overwhelming the reader.
  • D. Failing to have readers sign a nondisclosure agreement before sharing complex ideas.
Question 4 of 8
Which of the following best describes the ideal executive summary?
  • A. A comprehensive, ten-page breakdown of all financial forecasts and market analyses.
  • B. A detailed list of the management team's resumes and qualifications.
  • C. A short, urgent 'movie trailer' that clearly explains financial needs and how the money will be used.
  • D. A section strictly dedicated to analyzing industry trends and competitor strategies.
Question 5 of 8
What is the meaning behind the quote, 'It doesn't matter how hard you row. What matters is what boat you're in'?
  • A. A strong management team is more important than the product itself.
  • B. Hard work cannot overcome being in the wrong industry at the wrong time.
  • C. Your business plan must be uniquely tailored to the specific investor reading it.
  • D. Securing the right type of funding is the only way to guarantee rapid growth.
Question 6 of 8
When describing your management team in the business plan, what rule should you follow regarding their skills?
  • A. Include every skill and hobby to show they are well-rounded individuals.
  • B. Only list skills and accomplishments that are directly applicable to your business.
  • C. Focus primarily on their educational background rather than past employment.
  • D. Avoid mentioning specific performance metrics to prevent setting unrealistic expectations.
Question 7 of 8
Why does the text recommend putting items like advertising samples and team resumes in an appendix?
  • A. Because investors rarely read these documents anyway.
  • B. To hide them from competitors who might steal your marketing ideas.
  • C. To prevent them from breaking up the flow and readability of the main plan.
  • D. Because they are required by law to be separated from financial statements.
Question 8 of 8
What is a recommended best practice for sharing the appendix and large files associated with your business plan?
  • A. Print them all on high-quality white paper and bind them into a single massive document.
  • B. Attach them directly to your introductory email to ensure the investor has everything at once.
  • C. Keep them on a secure website so readers can easily access them without downloading heavy files.
  • D. Leave them out completely until an investor explicitly asks for them in a follow-up meeting.

Write Your Business Plan — Full Chapter Overview

Write Your Business Plan Summary & Overview

In Write Your Business Plan (2015), you’ll get a comprehensive overview of how to start putting your ideas to words and getting your dream of starting a business off the ground. A well-crafted business plan is a blueprint for future success, so it’s vital that you craft a plan that sells your ideas well.

Who Should Listen to Write Your Business Plan?

  • Entrepreneurs looking for business funding or support
  • Anyone looking to start their own business
  • Inventors wanting to profit from their ideas

About the Author: The Staff of Entrepreneur Media, Inc.

This book was written by the staff of Entrepreneur Media, Inc., a media company that publishes Entrepreneur magazine in addition to a series of business books.

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