Writing A Winning Business Plan
Question: How can I write a winning business plan with ever-changing financial information? – Emmanuel, Nairobi
Answer: Writing a business plan can be one of the most frustrating tasks for a small business owner, but it is also one of the most important.
First off, stop worrying so much about the numbers, experts say. The most crucial aspect of a business plan is you.
“The key section [of a business plan] is ‘management,’ because investors are highly concerned about the relevant skills and experience of the CEO and their ability to interact effectively with the CEO and executive team as the company grows quickly or requires challenging decisions,” says Fred E. Wainwright, adjunct associate professor of business administration at the Tuck School of Business at Dartmouth and the executive director of the school’s Center for Private Equity and Entrepreneurship. “The relationship between an entrepreneur and investors on the board of directors of a company is in many ways like a marriage – rapport, patience, and communication skills are essential.”
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