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    Business Plan and New Entrepeneurs

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    Analyze the financial planning process for new ventures and speculate about which steps are the most difficult for new entrepreneurs to implement. State why they are the most difficult.

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    https://brainmass.com/business/feasibility-studies/business-plan-new-entrepeneurs-479716

    Solution Preview

    Dear Student,

    Analyze the financial planning process for new ventures and speculate about which steps are the most difficult for new entrepreneurs to implement. State why they are the most difficult.
    In case of starting of new venture i.e., establishment of new business for the manufacture and selling of new product or diversification of the existing business by introducing new product in the market, it is necessary to make the detailed financial planning.
    In case of making financial planning, the following steps should be followed.

    1. Feasibility study of the product in the market.
    2. Detailed market research with respect to ...

    Solution Summary

    This solution of 422 words discusses the financial planning process in four steps and justifications. It also discusses the most difficult steps, explains why and provides examples for understanding.

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