How to write an effective business plan? - Part 3

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Today i would like to introduce you a great book which i believe every entrepreneur should have read before evaluating an opportunity or writing an effective business plan

What entrepreneurs and executives should do before writing a business plan

‘You may have capital and a talented management team, but if you are fundamentally in a lousy business, you won’t get the kind of results you would in a good business. All businesses aren’t created equal.’ William P.Egan II, veteran US venture capitalist

No matter how talented you are, no matter how much capital you have, no matter how good your business plan is, if you’re pursuing a ‘lousy business’ – i.e. a fundamentally flawed opportunity – you’re on the fast-track to failure.

The New Business Road Test shows you how to avoid the obvious mistakes that everyone else makes. It shows you how to assess market opportunities. It also shows entrepreneurs and entrepreneurial teams how to assess honestly the capabilities they themselves bring to the table. The new edition of this best-selling book will help you to road test your idea, making sure that the business you build is based on a winning concept. It will enable you to invest your time wisely and pitch to investors and customers with confidence.

Building on lessons learned by real entrepreneurs – some in start-ups, others in established firms, some who got it right and others who got it wrong, Mullins addresses the seven domains that characterize attractive, compelling opportunities. Mullins presents a model that helps you answer the live-or-die questions in assessing any new business opportunity. Road test your business idea first and get ahead of the game.

If you are interested in the book, i have a good news for you. You may click here and download Chapter 1. I strongly suggest you to read the Chapter 1. After reading this book, i believe you will learn what it takes to write an effective business plan. In addition to that, you will easily evaluate an opportunity before you invest your time and money.

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