5 Step Venture eMentoring Program™
Module 4a: Description of Business
Being able to clearly explain your business idea and why you think it will work is important for you, as well as anyone else you may become involved with, such as investors, customers, suppliers, employees and media representatives. If you can't explain your idea, it usually means that you don't really understand it yourself. Discussing your ideas with your business counselor or mentor will help to clarify your thinking and help you to explain your business concept to others.
In the first section of these exercises you started to write a description of your business idea and why you thought it would work. At the end of Step 2, you completed a summary of your idea. This step involves reviewing those earlier exercises to update or further clarify your business idea. If you've completed Step 2g: Summary online and have remained online through to this session, the following fields will be pre-populated with your prior responses. If you completed Step 2g: Summary at a different time, you may go back and refer to that information in the email record generated as a result.
The objective is to capture your current perspectives regarding what your business idea is and why you believe it will work at a level that you fully understand and can effectively convey to others. The more you understand what you are doing and why, the more you will be able to effectively engage others in supporting your progress and success.