Week 7 Reading Reflection

1. I was really surprised or it stuck out to me greatly in the reading that a business plan can help even inexperienced individuals who are starting a business. Of course it is fairly obvious that a plan for anything leads someone to a greater chance of success but I wouldn't think that someone who is very inexperienced could make a business plan good enough to compensate for their lack of experience.

2. One aspect in the reading that was confusing for me is how to use the U.S. Census Bureau to establish a potential market for your business plan.

3. Two questions I would like to ask the author are: 1) Why is the Internet used in later stages of planning for a business plan? Since wouldn't it be useful to find any supporting evidence on the Internet before really delving into your business plan? 2) What would be a good way to ascertain all the potential risks of a possible business idea?

4. One thing I thought the author was wrong about is not using any information on the Internet in assisting an entrepreneur with their business plan. Of course a business plan should include opinions of potential customers the entrepreneur interviews himself/ herself, but wouldn't it make the plan stronger if there was also samples or evidence on online surveys that further supported the business plan?