a) Why Do You think Business Plan is important for technopreneurs?

Explain for at
least 5 sentences. (25pts)
Just like any other plans, It is very important to have an outline of what the
process of your project because it make sure that you know what you are doing
and not just blindly creating the project on the go. It can also make you think
carefully about how you would go with your business and can see if there’s a
problem with the plan you created. You can also see how much and how long
your business is going to take so you can use this to change things to make it
much easier for you. Speaking of budget, having a plan also make others help
you like investors or stakeholders since you have to make them agree with your
business and showing them the plan is a big help. And finally, business is going
to take a long time to bloom, having a small goal business plan and expanding it
depending on the results it can even result you to even a different goal altogether
however this will always lead you to a more fulfilling business for yourself

b) Why is it important to have a Business Startup Checklist? Explain for at least 5

sentences. (25pts)
Just like Business Plan, having a Startup Checklist as a guide is important
because it gives you an idea of how you will handle your business to success.
Everyone needs to have a starting point; even successful entrepreneurs have
started without any knowledge of the entrepreneur world. Which means that they
must follow some rules or help with other people to help them learn and expand
their business. With a checklist, you can follow the footsteps of how these
experience entrepreneur shines and have an easier process of how to get your
business running. However solely relying on the checklist will not reach you to
your own goal because at the checklist is just a recommendation and you should
only follow it if you want to but not necessarily a step-by-step guide on becoming
a successful entrepreneur because not everyone is going to reveal their secret to
success so you need to make your own at the end of the day.
c) What will you do if you are unable to deliver the required income to make your
business stable in the market? List your strategies and explain each. (25pts)
 Review your business plan – the failure of your business can be result of
having a poor business plan, it can be too ambitious or too vague to follow
which can lead to confusion to your team on what your plan is.
 Think of what work and what doesn’t – Business is a big trial and error.
You must see what works with you and improve it and get rid of things that
are deadweight to your business even if it is the main core of your
business.
 Check if your business is relevant for consumers – One of main goal of
having a business is always be on demand. Being on demand whether a
short-term or long-term demand is important because those are what
made your business afloat so be sure to change your products that will
make you get more customers.
 You can always restart and try again – Sometimes it is not the time for you
become an entrepreneur, but that does not mean it is the end of the world.
You can always go back to business world whenever you are ready and
have a new plan and team that will help you become a better
entrepreneur.

d) Assuming that a conflict between you and the supplier occurs, and there are
deadlines to be met for your product line, what will be your contingency plans in
order to have the least impact to your business? (25ts)
 Always have a backup plan
 Apologize to the producer or investors respectfully and make sure to
comeback to regain their trust.
 Never lose your cool. Once you do, it will create more problems.
 Provide overtime to your employees while giving them the bonus they
needed.
 It is never harmful to ask help from others.
 Always be nice to every partner and investors you meet. They might be
able to help you when you are on a tight spot.
 Be honest and understanding to your consumers. As a consumer you
want the person you are buying to be a respectable person and thus can
gain loyalty which is important whenever you are on a tight spot.