Management 13th Edition by John Schermerhorn,Daniel Bachrach

Exercise 25

Assume for the moment that you have a great idea for a potential Internet-based startup business. In discussing the idea with a friend, she advises you to be very careful to tie your business idea to potential customers and then describe it well in a business plan. "After all," she says, "you won't succeed without customers, and you'll never get a chance to succeed if you can't attract financial backers through a good business plan." With these words to the wise, you proceed. What questions will you ask and answer to ensure that you are customerfocused in this business What are the major areas that you should address in writing your initial business plan