Which of the subsequent is true about the preparation of a business plan? Why?
The plan must cover every standard element in great detail and be at least 100 pages long to prove to potential lenders and investors that the entrepreneur has studied the business and the market opportunity.
The format must follow a cookie-cutter approach to ensure uniformity as well as consistency with others and to promote ease of understanding.
The elements of the plan may be standard however the content should reflect the unique aspects of the business and the excitement of the entrepreneur.
Entrepreneur must avoid seeking the advice of professionals, such as accountants, business professors and attorneys.