A friend of yours just completed a 42-page business plan for a solar power company. The company
Question:
A friend of yours just completed a 42-page business plan for a solar power company. The company will be asking for $4 million in venture capital fund- ing to ramp up production of a new type of solar panel they have developed. While looking through the plan, you noticed that the company will be target- ing three segments of the solar energy market: commercial users, residential users, and government buildings. When you asked your friend if he thought the company might be spreading itself too thin, he replied by saying, "No. In fact, we thought about targeting additional segments. We want to show the VCs that we have broad markets for our product." Do you think your friend's target market strategy is wise? Explain your answer.
Step by Step Answer:
Preparing Effective Business Plans An Entrepreneurial Approach
ISBN: 9780133506976
2nd Edition
Authors: Bruce Barringer