Systemized model assists entrepreneurs in developing thorough business plans and evaluating new ventures, suggesting improvements.
Relatively few new entrepreneurs develop business plans or they go about such planning in a haphazard way that invites errors and omissions. This article presents a systemized, Web-based venture planning model that collects appropriate information and assists entrepreneurs in evaluating new ventures. The model provides self-motivated feedback progressively over a series of stages. Each stage represents a unique level of analysis crucial to accepting or rejecting proposed ventures. In the process of completing the model, a detailed and systematic business plan is created.
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Ehmke et al. (2006) studied this question.
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