One of the most important things in order to start a business is a plan. Why? This is because more than 85% of those who invested fail with the inclination that money is all that is needed.
Having a good business plan is like building a house using bricks instead of sticks. This will have the vision and objective of the company, how much is needed, the sales projections and the return of investment.
This will serve like a guide to be able to foresee certain problems and have contingencies in place to deal with it.
Of course, the entrepreneur will still have to worry about money. But a sound business plan will surely invite a venture capitalist. This individual could either work alone or is a part of a bigger organization.
Maybe the person has no time to do it but sees the entrepreneur thinking in the same direction and will like to see how this turns out. Since most startups are risky with the possibility of failure, this individual will also like to play an active role in the business.
The venture capitalist is usually someone who is familiar with the industry that the entrepreneur wants to engage in. This means that person may know the...
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