In developing the plan, the entrepreneur will conduct research to determine a systematic and realistic (7) ###### of the company’s chances for success in the marketplace . In creating the plan, the entrepreneur must research the company's target market and define its potential. The entrepreneur must be able to prove through research that customers in the market need the good or service that is (8) ###### and that a sufficient number of potential customers exists to support the business.
A business plan also looks at the (9) ###### the business faces. Chief among these is competitors. The business plan must analyze the company 's competition by (10) ###### information on competitors’ market share, products , and strategies.
The plan should (11) ###### what distinguishes entrepreneur’s products or services from others already in the market. It is also common for businesses to fail because the owner fails to invest or seek sufficient capital to run the business. A good business plan should (12) ###### this as well.]]>