Jerry is starting an athletic apparel store, with his brother-in-law providing all funding. Identify possible insiders and outsiders and explain how each would use a business plan.
What will be an ideal response?
Insiders would include Jerry and his management team. Outsiders could include potential customers, apparel wholesalers and his lender if he will have a bank loan. Outsiders would also include his brother-in-law and other investors such as his family, friends, private investors and/or a venture capitalist.Jerry's business plan should provide a statement of goals and strategies to company insiders. It should also help in developing a relationship with any outsiders from whom he might seek financing or other support.
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What will be an ideal response?