Q: What is the importance of a business plan?
A: A business plan is crucial for obtaining funding, providing a reality check, and serving as a blueprint for business operations.
Q: What are some common sources of startup financing?
A: Common sources include personal savings, loans from friends and family, bank loans, crowdfunding, and angel investors.
Q: How can a business sustain growth?
A: By maintaining a sustainable strategy, expanding into new markets, and scaling up operations effectively.
Q: What is the role of venture capital in business growth?
A: Venture capital provides significant funding and strategic support for high-potential businesses looking to scale rapidly.
Q: What are some exit strategies for entrepreneurs?
A: Exit strategies include selling the business, going public through an IPO, or implementing an employee stock ownership plan (ESOP).