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Raising Entrepreneurial Capital, 2nd Edition by Suzanne M. Erickson, John B. Vinturella

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4

Determining the Amount Needed

The Business Plan

John Vinturella and Suzanne Erickson

Introduction

Every new business, regardless of size or growth aspirations, needs a business plan. The plan should be your road map to success and should provide benchmarks for measuring progress toward the plan’s objectives along the way. Even if you are not currently seeking external financing, outsiders will demand your business plan. Potential management candidates will surely want to read the plan, as will potential business partners. In forming strategic relationships, other companies will use your plan to assess your viability as a partner.

If you are seeking outside financing, lenders as well as equity investors will use your plan to help them decide whether ...

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