Questions
There are problems in using a questionnaire such as that above for the result may not represent honest answer. People often recognize common terms such as cash flow and guarantees and believe that they understand them as well as their ramifications. Similarly questions can be answered in a manner that is inclined to please the questioner, not fully expressing actual knowledge or understanding. This Favored Response Effect is a well known obstacle for market researchers who must structure their studies to avoid misleading data with your own answer its obviously essential to be honest for it may be your future that you are risking.
You will have seen that the questions are both directly related to the information needed to construct much of your Business Plan as well as that typically required to operate a Business enterprise. It’s unlikely that any one publication could provide all the knowledge needed to establish and run a business. However it is possible to bring forth some of the fundamental factors that should be recognize and appreciated prior to starting a venture. In this regard, writing the Business Plan performs a valuable role as it will tell you if your concepts and strategies have commercial reality. As well if you lack experience with, or knowledge, many of the points rose in the list of questions, you would have difficulty in honestly writing your plan. So the questions must be asked and answered.
In additions to the questions every venture should be asking every business should regularly ask it self four important questions:
- Where are we now?
- What is our market?
- Where do we wish to be?
- How do we get there?
If the big companies constantly ask these questions of themselves you can imagine how important there are to a new venture.
