Question
See Figure 201: The Comprehensive Feasibility Analysis/Business Planning Process on page 22 (2nd Edition). Here, Barringer presents a model with 5 steps: (1) Identify a
See Figure 201: The Comprehensive Feasibility Analysis/Business Planning Process on page 22 (2nd Edition). Here, Barringer presents a model with 5 steps:
(1) Identify a business idea,
(2) screen the idea to determine its preliminary feasibility,
(3) conduct a full feasibility analysis,
(4) prepare a written business plan, and (5)
present the business plan to investors and others.
What do you think of these five steps? Is this the ideal five-steps for all types of businesses? For example, compare and contrast how this model might look different for a lawn mowing startup vs. an innovative technology startup.Hint: there is no wrong answer here, I just want you to critically think about it.
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