Reading: New Venture Creation: An Innovator’s Guide to Entrepreneurship
Chapter 5: Defining the Business Model to a Venture
Chapter 9: Projecting the Financial Performance and Requirements for Ventures
Post DQ Initial Response by Thursday at 11:59 p.m.
Post DQ Peer Response(s) by Sunday at 11:59 p.m.
Submit Professional Assignment 2 by Sunday at 11:59 p.m.
Discussion Question Board Information: Answer all questions thoroughly, and be sure to provide one (1) direct response to the discussion question prompt and one (1) peer response. When posting peer responses, elevate your peers by asking probing questions that encourage your peers to engage in a more meaningful and deeper manner or by presenting additional ideas from research.
Discussion Question – CLO 1, CLO 2
How does financial planning benefit the business model of your new venture? Please support your thoughts with relevant outside information in your 200-250-word responses.
Make sure to support your thoughts with relevant, outside, reliable academic and peer-reviewed resources that are properly identified, cited, and referenced in your response.
Professional Assignment 2 – CLO 1, CLO 7 (Chapters 5, Chapter 9)
An integral part of the business plan is to develop a business model. Simply put, a business model describes how a company plans to make money. It is not what you do, but how you will make money doing what you do. A solid business model is the link between venture strategy and financial plans. Projecting the financial performance and requirements can be classified as financial goals of the venture. A venture capitalist will want to know not only the numbers, but how those were derived.
For this professional assignment, you will develop both a business model and financial goals for your new venture. Using chapters 5 and 9 of your textbook for reference, develop and submit the following:
Define the business model of your venture company, explaining why it is you have selected this business model as the ideal model for your venture.
Create a fiv