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21st Century Entrepreneurial Leadership

1. How does planning in a business plan assist the 21st Century Entrepreneurial Leader?

2. You are starting a business and you are trying to secure financing. The investor you are working with is prepared to give you exactly what you need. However, while reading your business plan the investor stops, looks you straight in the face and states the following: "I really don't care about your business plan other than you have one. What I care about is this: the first year of business I know we will loose money. The second year of business you better break even. The third year of business you better be making a profit. If not, we are closing the doors!" Now what?

3. "There are so many places on the internet to look up information." Based on this statement as a consumer, how do I know what is creditable and what is not?

4. "As a business plan addresses beyond business objectives and strategies, it also addresses both short-term and long-term decision making and at times been referred to as the game plan or road map—answers the questions, Where am I now? Where am I going? and How will I get there?" There are many thoughts as to how many years one should project when developing their business plan(s). Some say three (3), some say five (5), and others say seven (7). Explain thoughts on this and what you think is the ideal time period to project for a business plan and your reasoning for your choice.

Solution Preview

1. The 21st century entrepreneurial leader is given a route map when developing a successful business plan because the leader should recognize that a business plan isn't a destination wherein once it's developed it will remain the same as it should - it will change. The business plan helps provide the leader with credibility and confidence in articulating their business proposal and approaching investors as well as other organizations. Planning in a business plan process will help to identify areas where the leader lack's information in pertinent areas within the business and most importantly, the executive summary gives the leader the best opportunity to make a good first impression.

2. If ...

Solution Summary

This response looks at creating a business plan assisting a 21st century entrepreneurial leader.

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