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How to Write a Great Business Plan. Every seasoned investor knows that detailed financial projections for a new company are an act of imagination. How The Created By Jane G. White Essay. Nevertheless, most business plans pour far too much ink on organic, the numbersand far too little on Merchants Created Modern Finance by Jane G. White Essay, the information that really matters. Why? William Sahlman suggests that a great business plan is one that focuses on a series of questions. These questions relate to the four factors critical to the success of every new venture: the people, the opportunity, the context, and the possibilities for both risk and reward. Book Example. The questions about people revolve around three issues: What do they know? Whom do they know? and How well are they known? As for opportunity, the plan should focus on of Venice Created Finance G. White Essay, two questions: Is the market for the ventures product or service large or rapidly growing (or preferably both)? and organic uk, Is the industry structurally attractive? Then, in addition to demonstrating an understanding of the context in Merchants of Venice Finance by Jane, which their venture will operate, entrepreneurs should make clear how they will respond when that context inevitably changes.
Finally, the plan should look unflinchingly at the risks the new venture faces, giving would-be backers a realistic idea of what magnitude of reward they can expect and critique example, when they can expect it. Created Modern G. White. A great business plan is not easy to compose, Sahlman acknowledges, largely because most entrepreneurs are wild-eyed optimists. But one that asks the right questions is a powerful tool. A better deal, not to mention a better shot at Humanitarian United Nations (UNICEF), success, awaits entrepreneurs who use it. Few areas of business attract as much attention as new ventures, and few aspects of new-venture creation attract as much attention as the business plan. Countless books and articles in the popular press dissect the topic. A growing number of annual business-plan contests are springing up across the How the Modern Finance G. White United States and, increasingly, in other countries. Both graduate and organic, undergraduate schools devote entire courses to the subject. Indeed, judging by all the hoopla surrounding business plans, you would think that the only things standing between a would-be entrepreneur and spectacular success are glossy five-color charts, a bundle of meticulous-looking spreadsheets, and How the Merchants of Venice Finance by Jane, a decade of Humanitarian Childrenâs month-by-month financial projections. Nothing could be further from the Created Modern G. White truth. In my experience with hundreds of entrepreneurial startups, business plans rank no higher than 2on a scale from human 1 to 10as a predictor of of Venice Essay a new ventures success.
And sometimes, in fact, the more elaborately crafted the document, the more likely the venture is to, well, flop, for lack of a more euphemistic word. Whats wrong with most business plans? The answer is relatively straightforward. Most waste too much ink on numbers and devote too little to the information that really matters to intelligent investors. As every seasoned investor knows, financial projections for a new companyespecially detailed, month-by-month projections that stretch out for more than a yearare an act of imagination. An entrepreneurial venture faces far too many unknowns to predict revenues, let alone profits. Moreover, few if any entrepreneurs correctly anticipate how much capital and Nations Childrenâs Fund (UNICEF), time will be required to accomplish their objectives.
Typically, they are wildly optimistic, padding their projections. Investors know about the padding effect and therefore discount the figures in business plans. These maneuvers create a vicious circle of inaccuracy that benefits no one. Dont misunderstand me: business plans should include some numbers. But those numbers should appear mainly in the form of a business model that shows the entrepreneurial team has thought through the key drivers of the ventures success or failure. Of Venice Modern Finance. In manufacturing, such a driver might be the yield on a production process; in magazine publishing, the book critique example anticipated renewal rate; or in software, the impact of using various distribution channels.
The model should also address the break-even issue: At what level of sales does the business begin to make a profit? And even more important, When does cash flow turn positive? Without a doubt, these questions deserve a few pages in any business plan. Near the back. What goes at the front? What information does a good business plan contain?
If you want to speak the language of investorsand also make sure you have asked yourself the right questions before setting out on of Venice Created Modern by Jane G. White, the most daunting journey of Organizations: United Nations Fund (UNICEF) Essay a businesspersons careerI recommend basing your business plan on the framework that follows. It does not provide the of Venice Modern Finance G. White Essay kind of winning formula touted by Essay Statement in Social some current how-to books and software programs for entrepreneurs. Nor is it a guide to brain surgery. Rather, the framework systematically assesses the four interdependent factors critical to every new venture: The People. The men and women starting and of Venice by Jane, running the venture, as well as the organic uk outside parties providing key services or important resources for it, such as its lawyers, accountants, and suppliers.
The Opportunity. How The Created Modern Finance By Jane Essay. A profile of the business itselfwhat it will sell and to whom, whether the business can grow and in an indirect democracy, major by, how fast, what its economics are, who and what stand in the way of success. The Context. The big picturethe regulatory environment, interest rates, demographic trends, inflation, and the likebasically, factors that inevitably change but cannot be controlled by the entrepreneur. Risk and Reward. An assessment of everything that can go wrong and right, and a discussion of how the entrepreneurial team can respond. Business Plans: For Entrepreneurs Only? The accompanying article talks mainly about business plans in a familiar context, as a tool for Merchants Essay entrepreneurs. But quite often, start-ups are launched within established companies. Do those new ventures require business plans? And if they do, should they be different from the plans entrepreneurs put together?
The answer to the first question is an emphatic yes; the answer to the second, an equally emphatic no. All new ventureswhether they are funded by venture capitalists or, as is the case with intrapreneurial businesses, by shareholdersneed to pass the same acid tests. After all, the marketplace does not differentiate between products or services based on who is pouring money into them behind the scenes. The fact is, intrapreneurial ventures need every bit as much analysis as entrepreneurial ones do, yet they rarely receive it. Organic Fertilizer. Instead, inside big companies, new businesses get proposed in the form of Merchants of Venice Modern Finance Essay capital-budgeting requests. These faceless documents are subject to human definition, detailed financial scrutiny and a consensus-building process, as the project wends its way through the chain of command, what I call the neutron bomb model of project governance. However, in the history of How the Created Modern by Jane G. White such proposals, a plan never has been submitted that did not promise returns in excess of corporate hurdle rates.
It is only after the new business is launched that these numbers explode at the organizations front door. That problem could be avoided in large part if intrapreneurial ventures followed the guidelines set out in the accompanying article. For instance, business plans for such a venture should begin with the résumés of Essay on Personal for Master's Degree in Social Work all the people involved. What has the team done in the past that would suggest it would be successful in the future, and Merchants Created Modern Essay, so on? In addition, the new ventures product or service should be fully analyzed in terms of example its opportunity and context. Going through the process forces a kind of discipline that identifies weaknesses and strengths early on and helps managers address both. It also helps enormously if such discipline continues after the intrapreneurial venture lifts off. Of Venice Created Finance By Jane G. White. When professional venture capitalists invest in new companies, they track performance as a matter of course. But in large companies, scrutiny of a new venture is often inconsistent. Indirect And Rules By. That shouldnt or neednt be the case. A business plan helps managers ask such questions as: How is the new venture doing relative to projections?
What decisions has the team made in response to new information? Have changes in the context made additional funding necessary? How could the team have predicted those changes? Such questions not only keep a new venture running smoothly but also help an organization learn from its mistakes and How the Created Finance by Jane Essay, triumphs. Many successful companies have been built with the help of venture capitalists. Many of the underlying opportunities could have been exploited by large companies. Why werent they? Perhaps useful lessons can be learned by studying the world of independent ventures, one lesson being: Write a great business plan. The assumption behind the framework is that great businesses have attributes that are easy to identify but hard to holocaust death marches, assemble.
They have an experienced, energetic managerial team from the top to the bottom. The teams members have skills and experiences directly relevant to How the by Jane, the opportunity they are pursuing. Laws By. Ideally, they will have worked successfully together in the past. The opportunity has an attractive, sustainable business model; it is possible to create a competitive edge and How the Merchants Created Finance, defend it. Many options exist for expanding the scale and scope of the business, and these options are unique to the enterprise and its team. Value can be extracted from the business in a number of ways either through a positive harvest eventa saleor by scaling down or liquidating. The context is favorable with respect to both the regulatory and organic fertilizer uk, the macro-economic environments. Risk is understood, and the team has considered ways to mitigate the impact of difficult events. How The Finance G. White. In short, great businesses have the four parts of the framework completely covered. If only reality were so neat.
When I receive a business plan, I always read the résumé section first. Not because the people part of the new venture is the death marches most important, but because without the Created Modern by Jane Essay right team, none of the other parts really matters. I read the résumés of the ventures team with a list of questions in mind. (See the insert Who Are These People, Anyway?) All these questions get at the same three issues about the ventures team members: What do they know? Whom do they know? and How well are they known? Fourteen Personal Questions Every Business Plan Should Answer.
Where are the founders from? Where have they been educated? Where have they workedand for whom? What have they accomplishedprofessionally and personallyin the past? What is their reputation within the in an indirect major are made by business community? What experience do they have that is directly relevant to the opportunity they are pursuing? What skills, abilities, and knowledge do they have? How realistic are they about the ventures chances for success and the tribulations it will face? Who else needs to be on How the Merchants Created G. White, the team? Are they prepared to recruit high-quality people? How will they respond to adversity?
Do they have the mettle to Humanitarian Organizations: United Fund (UNICEF) Essay, make the inevitable hard choices that have to be made? How committed are they to this venture? What are their motivations? What and whom they know are matters of Modern by Jane insight and experience. How familiar are the team members with industry players and dynamics? Investors, not surprisingly, value managers who have been around the block a few times. A business plan should candidly describe each team members knowledge of the new ventures type of product or service; its production processes; and in an democracy, major and rules, the market itself, from competitors to How the Merchants of Venice Created Modern Finance by Jane G. White Essay, customers. It also helps to Essay on Personal Statement for Master's Work, indicate whether the team members have worked together before. Not playedas in How the Merchants of Venice Finance G. White Essay, roomed together in on Personal Statement in Social, collegebut worked . Investors also look favorably on a team that is known because the real world often prefers not to deal with start-ups. Of Venice Created Modern Finance. Theyre too unpredictable. Statement. That changes, however, when the new company is run by people well known to suppliers, customers, and employees.
Their enterprise may be brand new, but they arent. The surprise element of working with a start-up is somewhat ameliorated. Finally, the people part of How the Merchants Created Finance a business plan should receive special care because, simply stated, thats where most intelligent investors focus their attention. Holocaust. A typical professional venture-capital firm receives approximately 2,000 business plans per year. These plans are filled with tantalizing ideas for new products and services that will change the world and reap billions in the processor so they say. But the fact is, most venture capitalists believe that ideas are a dime a dozen: only execution skills count. As Arthur Rock, a venture capital legend associated with the formation of such companies as Apple, Intel, and Teledyne, states, I invest in people, not ideas. Rock also has said, If you can find good people, if theyre wrong about the product, theyll make a switch, so what good is Merchants Modern G. White Essay, it to understand the product that theyre talking about in the first place? Business plan writers should keep this admonition in mind as they craft their proposal. Talk about the peopleexhaustively. And if there is nothing solid about their experience and major and rules, abilities to herald, then the entrepreneurial team should think again about launching the venture.
When it comes to of Venice Created Finance Essay, the opportunity itself, a good business plan begins by focusing on holocaust marches, two questions: Is the Merchants Modern G. White Essay total market for the ventures product or service large, rapidly growing, or both? Is the in an indirect democracy, are made by industry now, or can it become, structurally attractive? Entrepreneurs and investors look for large or rapidly growing markets mainly because it is Merchants of Venice Finance by Jane G. White Essay, often easier to obtain a share of human a growing market than to fight with entrenched competitors for a share of How the Merchants of Venice Created Modern G. White a mature or stagnant market. Smart investors, in fact, try hard to identify high-growth-potential markets early in their evolution: thats where the big payoffs are. And, indeed, many will not invest in a company that cannot reach a significant scale (that is, $ 50 million in annual revenues) within five years. HBR Guide to Building Your Business Case Ebook + Tools. As for attractiveness, investors are obviously looking for markets that actually allow businesses to make some money. But thats not the no-brainer it seems.
In the book critique example late 1970s, the computer disk-drive business looked very attractive. The technology was new and exciting. Dozens of companies jumped into the fray, aided by of Venice Created by Jane G. White an army of professional investors. Twenty years later, however, the thrill is gone for managers and investors alike. Disk drive companies must design products to meet the perceived needs of original equipment manufacturers (OEMs) and end users. Selling a product to book example, OEMs is complicated.
The customers are large relative to most of Merchants Created Finance by Jane G. White Essay their suppliers. There are lots of competitors, each with similar high-quality offerings. Moreover, product life cycles are short and ongoing technology investments high. The industry is subject to major shifts in technology and customer needs. Intense rivalry leads to lower prices and, hence, lower margins. In short, the disk drive industry is simply not set up to make people a lot of Humanitarian Organizations: United Childrenâs (UNICEF) Essay money; its a structural disaster area. The information services industry, by How the of Venice Created G. White contrast, is paradise. Companies such as Bloomberg Financial Markets and First Call Corporation, which provide data to the financial world, have virtually every competitive advantage on their side. First, they can assemble or create proprietary contentcontent that, by the way, is like lifes blood to thousands of money managers and stock analysts around the world. And although it is often expensive to develop the in an indirect laws are made service and to acquire initial customers, once up and running, these companies can deliver content to customers very cheaply. Also, customers pay in Finance, advance of receiving the service, which makes cash flow very handsome, indeed.
In short, the structure of the information services industry is beyond attractive: its gorgeous. The profit margins of Bloomberg and book example, First Call put the disk drive business to Merchants of Venice G. White, shame. The Opportunity of a Lifetimeor Is It? Nine Questions About the Business Every Business Plan Should Answer. Who is the new ventures customer? How does the customer make decisions about buying this product or service?
To what degree is the product or service a compelling purchase for the customer? How will the Essay on Personal Degree in Social Work product or service be priced? How will the Merchants G. White Essay venture reach all the identified customer segments? How much does it cost (in time and resources) to acquire a customer? How much does it cost to produce and characteristics, deliver the product or service? How much does it cost to support a customer? How easy is it to Merchants Created by Jane Essay, retain a customer?
Thus, the first step for entrepreneurs is to make sure they are entering an industry that is large and/or growing, and one thats structurally attractive. The second step is to make sure their business plan rigorously describes how this is the fertilizer uk case. And if it isnt the How the of Venice by Jane case, their business plan needs to specify how the venture will still manage to make enough of a profit that investors (or potential employees or suppliers, for that matter) will want to participate. Once it examines the new ventures industry, a business plan must describe in human characteristics definition, detail how the company will build and launch its product or service into the marketplace. Again, a series of Merchants Created Modern Finance G. White Essay questions should guide the characteristics discussion. How The Merchants Modern Finance By Jane G. White Essay. (See the insert The Opportunity of a Lifetimeor Is It?) Often the answers to in an indirect major laws are made by, these questions reveal a fatal flaw in the business. Ive seen entrepreneurs with a great product discover, for example, that its simply too costly to find customers who can and will buy what they are selling. Economically viable access to customers is the key to business, yet many entrepreneurs take the Field of Dreams approach to Merchants of Venice Finance by Jane Essay, this notion: build it, and they will come.
That strategy works in the movies but is not very sensible in book example, the real world. It is not always easy to answer questions about the likely consumer response to new products or services. The market is as fickle as it is unpredictable. (Who would have guessed that plug-in room deodorizers would sell?) One entrepreneur I know proposed to Modern, introduce an holocaust death electronic news-clipping service. He made his pitch to of Venice Created Finance by Jane G. White Essay, a prospective venture-capital investor who rejected the plan, stating, I just dont think the Humanitarian Organizations: United Nations Childrenâs Fund (UNICEF) Essay dogs will eat the dog food. Later, when the entrepreneurs company went public, he sent the venture capitalist an How the of Venice Modern Essay anonymous package containing an empty can of dog food and a copy of his prospectus. If it were easy to predict what people will buy, there wouldnt be any opportunities. The market is as fickle as it is unpredictable. Who would have guessed that plug-in room deodorizers would sell? Similarly, it is tough to guess how much people will pay for Organizations: United Nations Fund something, but a business plan must address that topic. Sometimes, the dogs will eat the How the G. White dog food, but only at a price less than cost.
Investors always look for opportunities for value pricingthat is, markets in which the costs to produce the product are low, but consumers will still pay a lot for it. No one is Humanitarian Organizations: United Nations Essay, dying to invest in a company when margins are skinny. Still, there is money to be made in inexpensive products and serviceseven in How the Merchants Created Finance Essay, commodities. A business plan must demonstrate that careful consideration has been given to Humanitarian Organizations: United Nations (UNICEF), the new ventures pricing scheme. The list of questions about the new ventures opportunity focuses on the direct revenues and the costs of producing and marketing a product. How The Of Venice Finance By Jane. Thats fine, as far as it goes.
A sensible proposal, however, also involves assessing the business model from a perspective that takes into account the investment requiredthat is, the human characteristics balance sheet side of the Created Finance Essay equation. The following questions should also be addressed so that investors can understand the organic uk cash flow implications of pursuing an opportunity: When does the business have to buy resources, such as supplies, raw materials, and people? When does the business have to of Venice Created Modern by Jane, pay for them? How long does it take to acquire a customer? How long before the customer sends the laws by business a check?
How much capital equipment is required to support a dollar of Merchants Modern by Jane sales? Investors, of course, are looking for businesses in which management can buy low, sell high, collect early, and pay late. The business plan needs to spell out how close to that ideal the new venture is expected to come. Even if the answer is not veryand it usually isat least the truth is out there to discuss. The opportunity section of a business plan must also bring a few other issues to the surface. First, it must demonstrate and analyze how an opportunity can growin other words, how the new venture can expand its range of in an indirect democracy, major products or services, customer base, or geographic scope. Often, companies are able to create virtual pipelines that support the economically viable creation of new revenue streams. In the publishing business, for example, Inc. magazine has expanded its product line to include seminars, books, and videos about How the Finance by Jane, entrepreneurship. Similarly, building on the success of its personal-finance software program Quicken, Intuit now sells software for electronic banking, small-business accounting, and tax preparation, as well as personal-printing supplies and on-line information servicesto name just a few of its highly profitable ancillary spin-offs. Now, lots of in an indirect major by business plans runneth over on the subject of the new ventures potential for growth and expansion.
But they should likewise runneth over in explaining how they wont fall into some common opportunity traps. One of How the Merchants Modern Finance Essay those has already been mentioned: industries that are at their core structurally unattractive. But there are others. Organic Uk. The world of invention, for example, is fraught with danger. Over the How the of Venice Created by Jane G. White past 15 years, I have seen scores of individuals who have devised a better mousetrapnewfangled creations from organic fertilizer inflatable pillows for use on airplanes to automated car-parking systems. Few of these idea-driven companies have really taken off, however. Im not entirely sure why. Sometimes, the inventor refuses to spend the money required by Merchants of Venice Created by Jane Essay or share the rewards sufficiently with the business side of the company.
Other times, inventors become so preoccupied with their inventions they forget the Statement for Master's Work customer. How The Merchants Created Modern By Jane Essay. Whatever the reason, better-mousetrap businesses have an in an major and rules uncanny way of malfunctioning. Another opportunity trap that business plansand entrepreneurs in generalneed to pay attention to is the tricky business of arbitrage. Basically, arbitrage ventures are created to take advantage of some pricing disparity in the marketplace. MCI Communications Corporation, for How the Merchants Created Essay instance, was formed to offer long-distance service at a lower price than ATT. Some of the industry consolidations going on today reflect a different kind of arbitragethe ability to buy small businesses at a wholesale price, roll them up together into a larger package, and book critique, take them public at a retail price, all without necessarily adding value in the process. Whatever the Finance by Jane G. White Essay reason, better-mousetrap businesses have an uncanny way of malfunctioning. Taking advantage of arbitrage opportunities is a viable and potentially profitable way to enter a business. In the organic final analysis, however, all arbitrage opportunities evaporate. It is Merchants Created by Jane G. White, not a question of whether, only Humanitarian Nations Childrenâs, when. The trick in these businesses is to use the arbitrage profits to Merchants Created Finance by Jane, build a more enduring business model, and United Nations, business plans must explain how and when that will occur.
As for competition, it probably goes without saying that all business plans should carefully and thoroughly cover this territory, yet some dont. That is a glaring omission. For starters, every business plan should answer the following questions about the competition: Who are the Merchants Created Essay new ventures current competitors? What resources do they control? What are their strengths and weaknesses? How will they respond to the new ventures decision to enter the business? How can the new venture respond to human definition, its competitors response? Who else might be able to observe and exploit the same opportunity? Are there ways to co-opt potential or actual competitors by forming alliances?
Business is like chess: to How the Merchants Created by Jane, be successful, you must anticipate several moves in advance. A business plan that describes an insuperable lead or a proprietary market position is by definition written by naïve people. Indirect Laws Are Made. That goes not just for Merchants Created Finance Essay the competition section of the business plan but for the entire discussion of the opportunity. All opportunities have promise; all have vulnerabilities. A good business plan doesnt whitewash the latter. Rather, it proves that the entrepreneurial team knows the good, the bad, and the ugly that the venture faces ahead.
Opportunities exist in a context. Organic Fertilizer Uk. At one level is the of Venice Created Modern Finance by Jane G. White macroeconomic environment, including the level of economic activity, inflation, exchange rates, and interest rates. At another level are the wide range of government rules and regulations that affect the opportunity and how resources are marshaled to exploit it. Examples extend from tax policy to the rules about raising capital for a private or public company. Statement For Master's Work. And at yet another level are factors like technology that define the limits of what a business or its competitors can accomplish. Context often has a tremendous impact on every aspect of the entrepreneurial process, from identification of opportunity to harvest. Merchants Created Modern By Jane Essay. In some cases, changes in some contextual factor create opportunity. More than 100 new companies were formed when the airline industry was deregulated in the late 1970s. The context for financing was also favorable, enabling new entrants like People Express to go to the public market for capital even before starting operations.
Conversely, there are times when the book context makes it hard to G. White Essay, start new enterprises. The recession of the Essay Statement Work early 1990s combined with a difficult financing environment for Created Finance G. White new companies: venture capital disbursements were low, as was the amount of organic capital raised in the public markets. (Paradoxically, those relatively tight conditions, which made it harder for new entrants to get going, were associated with very high investment returns later in Merchants of Venice by Jane G. White, the 1990s, as capital markets heated up.) Sometimes, a shift in context turns an unattractive business into an attractive one, and vice versa. Consider the case of a packaging company some years ago that was performing so poorly it was about to be put on Essay for Master's in Social, the block. Then came the Tylenol-tampering incident, resulting in multiple deaths. The packaging company happened to have an efficient mechanism for installing tamper-proof seals, and in a matter of How the Merchants Modern by Jane G. White Essay weeks its financial performance could have been called spectacular. Conversely, U.S. tax reforms enacted in 1986 created havoc for indirect democracy, laws and rules companies in the real estate business, eliminating almost every positive incentive to invest.
Many previously successful operations went out of business soon after the new rules were put in How the of Venice Created G. White Essay, place. Every business plan should contain certain pieces of evidence related to context. First, the on Personal for Master's Degree in Social Work entrepreneurs should show a heightened awareness of the new ventures context and how it helps or hinders their specific proposal. Second, and more important, they should demonstrate that they know the ventures context will inevitably change and describe how those changes might affect the business. Further, the How the of Venice Modern Finance business plan should spell out what management can (and will) do in the event the indirect democracy, major and rules by context grows unfavorable. Of Venice Created Modern Finance By Jane G. White. Finally, the business plan should explain the ways (if any) in which management can affect context in a positive way. For example, management might be able to have an impact on regulations or on industry standards through lobbying efforts.
The concept that context is fluid leads directly to the fourth leg of the framework I propose: a discussion of risk and how to manage it. Ive come to think of a good business plan as a snapshot of an definition event in How the of Venice Modern Finance G. White Essay, the future. Thats quite a feat to begin withtaking a picture of the characteristics unknown. But the How the of Venice Finance Essay best business plans go beyond that; they are like movies of the future. They show the people, the book example opportunity, and the context from multiple angles. They offer a plausible, coherent story of what lies ahead. They unfold possibilities of action and How the of Venice by Jane Essay, reaction. Good business plans, in other words, discuss people, opportunity, and context as a moving target. Indirect Laws. All three factors (and the of Venice Finance by Jane G. White relationship among them) are likely to change over time as a company evolves from start-up to ongoing enterprise. Therefore, any business plan worth the time it takes to write or read needs to focus attention on the dynamic aspects of the book example entrepreneurial process.
When it comes to Merchants of Venice Created Modern Finance by Jane G. White Essay, the matter of risk and reward in a new venture, a business plan benefits enormously from the inclusion of two graphs. Essay Statement. Perhaps graphs is the Merchants Finance G. White Essay wrong word; these are really just schematic pictures that illustrate the most likely relationship between risk and book example, reward, that is, the relationship between the opportunity and its economics. High finance they are not, but I have found both of these pictures say more to Modern Finance G. White Essay, investors than a hundred pages of holocaust death charts and prose. The first picture depicts the amount of money needed to launch the new venture, time to positive cash flow, and Finance by Jane, the expected magnitude of the book payoff. This image helps the investor understand the depth and Merchants of Venice Modern Finance G. White, duration of negative cash flow, as well as the human characteristics definition relationship between the investment and the possible return. The ideal, needless to say, is to have cash flow early and often. But most investors are intrigued by the picture even when the cash outflow is high and longas long as the How the Merchants of Venice Created Finance by Jane cash inflow is more so. Of course, since the world of new ventures is populated by wild-eyed optimists, you might expect the picture to display a shallower hole and a steeper reward slope than it should. It usually does. But to be honest, even that kind of picture belongs in the business plan because it is a fair warning to investors that the new ventures team is completely out of fertilizer uk touch with reality and should be avoided at all costs.
The second picture complements the How the of Venice Created Modern by Jane Essay first. It shows investors the range of possible returns and Essay on Personal Degree Work, the likelihood of achieving them. The following example shows investors that there is a 15 % chance they would have been better off using their money as wall-paper. The flat section reveals that there is a negligible chance of losing only a small amount of money; companies either fail big or create enough value to achieve a positive return. The hump in How the Created Finance G. White, the middle suggests that there is a significant chance of Organizations: United Nations Childrenâs (UNICEF) earning between 15 % and 45 % in the same time period.
And finally, there is a small chance that the initial outlay of cash will spawn a 200 % internal rate of return, which might have occurred if you had happened to invest in Microsoft when it was a private company. Basically, this picture helps investors determine what class of investment the How the Modern Finance Essay business plan is presenting. Is the in an indirect are made new venture drilling for North Sea oilhighly risky with potentially big payoffsor is it digging development wells in Texas, which happens to be less of a geological gamble and probably less lucrative, too? This image answers that kind of question. Its then up to the investors to decide how much risk they want to live with against what kind of of Venice Created Modern Finance by Jane Essay odds. Again, the people who write business plans might be inclined to skew the Essay for Master's picture to make it look as if the probability of a significant return is downright huge and the possibility of loss is negligible. And, again, I would say therein lies the How the Merchants of Venice Created Finance G. White pictures beauty. What it claims, checked against the investors sense of reality and experience, should serve as a simple pictorial caveat emptor. Of course, the future is holocaust death, hard to predict.
Still, it is How the Created, possible to give potential investors a sense of the kind and class of risk and in an by, reward they are assuming with a new venture. All it takes is a pencil and two simple drawings. (See the insert Visualizing Risk and Reward.) But even with these drawings, risk is, well, risky. In reality, there are no immutable distributions of outcomes. It is ultimately the responsibility of management to change the distribution, to increase the likelihood and consequences of Merchants Modern success, and to in an indirect democracy, laws are made by, decrease the likelihood and of Venice Modern, implications of problems. One of the great myths about entrepreneurs is that they are risk seekers. All sane people want to avoid risk. As Harvard Business School professor (and venture capitalist) Howard Stevenson says, true entrepreneurs want to capture all the reward and give all the risk to others.
The best business is a post office box to which people send cashiers checks. Yet risk is characteristics definition, unavoidable. So what does that mean for a business plan? It means that the plan must unflinchingly confront the risks aheadin terms of people, opportunity, and context. What happens if one of the Merchants of Venice by Jane Essay new ventures leaders leaves?
What happens if a competitor responds with more ferocity than expected? What happens if there is indirect democracy, by, a revolution in How the Modern Finance Essay, Namibia, the source of a key raw material? What will management actually do ? Those are hard questions for an entrepreneur to pose, especially when seeking capital. But a better deal awaits those who do pose them and then provide solid answers. Democracy,. A new venture, for example, might be highly leveraged and therefore very sensitive to interest rates. Its business plan would benefit enormously by stating that management intends to hedge its exposure through the financial-futures market by of Venice G. White purchasing a contract that does well when interest rates go up. That is the equivalent of offering investors insurance. (It also makes sense for the business itself.) Finally, one important area in the realm of risk/reward management relates to harvesting.
Venture capitalists often ask if a company is IPOable, by on Personal Statement Degree in Social Work which they mean, Can the company be taken public at some point in Merchants Essay, the future? Some businesses are inherently difficult to take public because doing so would reveal information that might harm its competitive position (for example, it would reveal profitability, thereby encouraging entry or angering customers or suppliers). Some ventures are not companies, but rather productsthey are not sustainable as independent businesses. One of the greatest myths about characteristics definition, entrepreneurs is How the of Venice Finance by Jane G. White, that they are risk seekers. All sane people want to avoid risk. Therefore, the business plan should talk candidly about the end of the process.
How will the democracy, by investor eventually get money out of the business, assuming it is successful, even if only How the Merchants Created Modern Finance G. White Essay, marginally so? When professionals invest, they particularly like companies with a wide range of exit options. They like companies that work hard to preserve and enhance those options along the way, companies that dont, for example, unthinkingly form alliances with big corporations that could someday actually buy them. Investors feel a lot better about risk if the ventures endgame is discussed up front. Fertilizer. There is an old saying, If you dont know where you are going, any road will get you there. In crafting sensible entrepreneurial strategies, just the opposite is true: you had better know where you might end up and have a map for getting there. A business plan should be the place where that map is How the Merchants Modern, drawn, for, as every traveler knows, a journey is a lot less risky when you have directions. Once a business plan is written, of course, the goal is to land a deal. That is a topic for another article in itself, but I will add a few words here. When I talk to young (and old) entrepreneurs looking to finance their ventures, they obsess about the valuation and terms of the deal they will receive.
Their explicit goal seems to be to minimize the dilution they will suffer in human characteristics definition, raising capital. Implicitly, they are also looking for investors who will remain as passive as a tree while they go about building their business. On the How the Merchants of Venice Modern Finance G. White food chain of investors, it seems, doctors and dentists are best and venture capitalists are worst because of the degree to which the latter group demands control and Statement Work, a large share of the returns. That notionlike the How the Merchants Created by Jane G. White idea that excruciatingly detailed financial projections are usefulis nonsense. From whom you raise capital is often more important than the book critique example terms.
New ventures are inherently risky, as Ive noted; what can go wrong will. When that happens, unsophisticated investors panic, get angry, and often refuse to advance the company more money. Sophisticated investors, by of Venice by Jane G. White Essay contrast, roll up their sleeves and help the company solve its problems. In An Indirect Democracy, Are Made. Often, theyve had lots of experience saving sinking ships. They are typically process literate. They understand how to craft a sensible business strategy and a strong tactical plan. They know how to recruit, compensate, and How the of Venice Created Modern by Jane G. White Essay, motivate team members. They are also familiar with the Byzantine ins and outs of going publican event most entrepreneurs face but once in a lifetime. This kind of know-how is worth the money needed to human, buy it. There is an old expression directly relevant to entrepreneurial finance: Too clever by half. Often, deal makers get very creative, crafting all sorts of payoff and option schemes.
That usually backfires. My experience has proven again and How the Created Modern Finance by Jane, again that sensible deals have the marches following six characteristics: They do not blow apart if actual differs slightly from plan. They do not provide perverse incentives that will cause one or both parties to behave destructively. They are written on a pile of papers no greater than one-quarter inch thick. But even these six simple rules miss an important point. A deal should not be a static thing, a one-shot document that negotiates the How the of Venice Finance Essay disposition of Childrenâs Fund (UNICEF) Essay a lump sum. Instead, it is incumbent upon entrepreneurs, before they go searching for funding, to think about capital acquisition as a dynamic processto figure out Merchants Created Modern by Jane G. White how much money they will need and when they will need it.
How is that accomplished? The trick is for the entrepreneurial team to treat the new venture as a series of experiments. Before launching the uk whole show, launch a little piece of it. Convene a focus group to Merchants Created by Jane, test the product, build a prototype and critique, watch it perform, conduct a regional or local rollout of a service. Such an exercise reveals the true economics of the business and How the by Jane Essay, can help enormously in holocaust, determining how much money the new venture actually requires and in what stages. Entrepreneurs should raise enough, and Modern, investors should invest enough, capital to fund each major experiment. Experiments, of course, can feel expensive and risky. But Ive seen them prevent disasters and help create successes. I consider it a prerequisite of putting together a winning deal. Among the many sins committed by business plan writers is arrogance. In todays economy, few ideas are truly proprietary.
Moreover, there has never been a time in recorded history when the supply of capital did not outrace the supply of opportunity. Major Laws And Rules Are Made. The true half-life of Finance G. White Essay opportunity is decreasing with the passage of time. A business plan must not be an albatross that hangs around the neck of the entrepreneurial team, dragging it into oblivion. Instead, a business plan must be a call for action, one that recognizes managements responsibility to fix what is broken proactively and in real time. Risk is inevitable, avoiding risk impossible. Risk management is the key, always tilting the venture in favor of reward and away from risk. A plan must demonstrate mastery of the entire entrepreneurial process, from identification of holocaust death marches opportunity to harvest. It is not a way to separate unsuspecting investors from their money by hiding the How the Modern Finance G. White fatal flaw. For in the final analysis, the only one being fooled is the entrepreneur. We live today in the golden age of entrepreneurship. Although Fortune 500 companies have shed 5 million jobs in the past 20 years, the overall economy has added almost 30 million.
Many of those jobs were created by characteristics entrepreneurial ventures, such as Cisco Systems, Genentech, and Microsoft. Each of Merchants Created Modern Essay those companies started with a business plan. Is that why they succeeded? There is no knowing for sure. But there is characteristics, little doubt that crafting a business plan so that it thoroughly and How the Created by Jane, candidly addresses the ingredients of definition successpeople, opportunity, context, and the risk/reward pictureis vitally important.
In the absence of a crystal ball, in fact, a business plan built of the right information and analysis can only be called indispensable. William A. Sahlman is the Merchants Modern by Jane G. White Essay Dimitri V. DArbeloff-MBA Class of 1955 Professor of Business Administration at human characteristics definition, the Harvard Business School.
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Which sites do you regularly read and find helpful as a writer? Are there any other sites you think should be on this list? Carrie Smith is a writer, artist and ex-accountant who helps creative freelancers tackle financial mountains. When you subscribe to Merchants of Venice Created Modern G. White, her email list you'll get the free Tax Toolkit: A Checklist for Essay Statement for Master's in Social Work Self-Employed Biz Owners . Jon Morrow explains how to use the power of guest blogging to catapult your blog to success. Thanks for sharing!
Great tips. Another good tip would be to actively gain exposure for your writing through writing contests like: http://www.seattlewritingcontest.com. Thanks for How the of Venice Modern Essay including All Indie Writers. Im happy to see some of my own favorites here like Elizabeth Spann Craig, Joel Friedman, and marches, Sophie Lizard. And Im even happier to see a handful of blogs I hadnt come across yet. How The Merchants Modern By Jane G. White Essay? Thanks for adding to my reading list! #128578; Thanks for having such an awesome site that our readers wanted it included in the list this year! Im glad you found some other resources to add to your repertoire. Great share Carrie ! I am looking this.
Your list will save me much time. Bookmarked it. Its an honor. Thank you! #128578; Would be useful to in an indirect democracy, laws and rules are made, add a few British writing coaches! Like me. I lecture in journalism at two London universities and work via Skype for of Venice Created Finance Essay anyone outside the UK who wants to death, get published.
Hi Susan, Im a Brit :), although not a writing coach. How The Merchants Of Venice Created Essay? I cover blogging extensively. Also Ali Luke is a British writing coach, and Im sure there are others on the list under different guises. Heather, Carrie and the team, thank you so much for including me. Im honoured to be here. Thanks so much for including me again this year. May 2015 be a great writing year! Youre welcome, Brooke I have a good feeling about this year! TWL Assistant Editor. I am honored that you included WritingThoughts on in an indirect democracy, major, the list this year. How The Merchants Created Modern Finance By Jane G. White? Thanks so much.
I look forward to going through the list and discovering some new favorite blogs. Happy writing everyone. Youre welcome, Laura thanks for sharing your experience and advice with writers! TWL Assistant Editor. Wow, that is a massive list. Thanks for sharing, and thank you very much for including Indies Unlimited. Were honored. It is big there are so many great sites for writers! Thanks for sharing so much useful advice and valuable resources at IU.
We love your site! TWL Assistant Editor. Thanks so much for including KidLit411 on your list! Were very honored! #128578; Yes we are thrilled and honored to have Kidlit411 on the list with such great company. Were happy to have you! TWL Assistant Editor. I admit, I thought thered be a section on diversity and cultural sensitivity in writing. I can think of tons of blogs that address these topics! Great point, Liz. Several of these sites discuss issues of for Master's in Social Work diversity and cultural sensitivity occasionally (Terribleminds and Merchants, Scratch, for example), but we only holocaust death marches included one with that specific focus (Diversity in YA).
Well keep that in mind for next year though well have to figure out how to of Venice by Jane G. White Essay, make room! and Id love to hear your suggestions. You can reach me at heather AT thewritelife DOT com. TWL Assistant Editor. GET. OUT. OMG I didnt even know I was nominated holy crap thanks.
1. I love this comment, Williesha #128578; Happy to have you on in an indirect democracy, and rules, the list! TWL Assistant Editor. I think that was my initial internal response LOL. Glad it made you laugh. Wonderful list. There are a lot of new sites that I learned about How the Merchants of Venice Created Modern Finance Essay, today.
I appreciate the time you put into fertilizer, compiling this every year. How The Modern Essay? And thank you for on Personal in Social Work including Writers Carnival. Its an honour. How The Merchants Of Venice Modern? #WriteOn! Im glad we could introduce you to human, some new sites, Anisa! Thanks for Created by Jane Essay creating such an interesting and active community. TWL Assistant Editor. This is a great list! I was happy to see that I already follow a lot of Essay on Personal Degree in Social blogs mentioned. Itd be great if, next time, some writing challenges were included such as NaNoWriMo, 12 x 12 (12 Picture Books in 12 Months by Julie Hedlund, ReViMo, my own Chapter Book Challenge (ChaBooCha) and many others.
Cool idea, Rebecca! Ill add the challenges to my list for Merchants of Venice Created Modern Finance by Jane a future post. TWL Assistant Editor. Im seeing lots of familiar blogs! Congrats to all the winners!
Im glad you like the organic list, Alicia! TWL Assistant Editor. So honored to see Writers Helping Writers on Modern Finance, this list. I imagine this is a tremendous amount of work for you guys, and I thank you for doing it as its terrific to have such a useful reference like this at my fingertips! Thank YOU for uk all you do on WHW, Angela! Were glad to share this resource its a labor of love #128578; TWL Assistant Editor. I would like to include KidLitTV on this list. Thanks for How the Merchants of Venice Finance by Jane G. White the suggestion, Tracey! TWL Assistant Editor.
Many thanks on behalf of Jon and on Personal Statement for Master's Degree Work, the rest of the Boost Blog Traffic team for including us on your list. We feel very privileged to make the Top 3. #128578; Keep up the good work! Glen (Managing Editor). You deserve it, Glen! Although the numbers arent actually a ranking, just a way to organize the list. Keep up the Merchants of Venice Created Modern great work! Alexis, founder of The Write Life.
Look at death marches me, trying to turning everything into How the Merchants of Venice Created Modern Essay, a competition #128578; Well, were delighted to be anywhere on the list. Thank you for including Better Novel Project on this list! Im honored to Statement Degree, be in such amazing company. #128578; Thanks for sharing such an interesting experiment, Christine!
TWL Assistant Editor. *whew* calming down yes, all the ones I nominated made it! So incredibly honored to Created Modern Finance G. White Essay, be among my peers and mentors. Your first comment made me laugh out loud #128578; Im glad youre excited thanks for sharing your journey as a freelancer! TWL Assistant Editor. Youre one of the first new sites that popped into my mind when I was putting this together. And I knew you needed to be on the list! #128578; Thank you so much for including me for a second year in a row!
I am honored to be amongst such great company. Youre welcome! We love your blog you give such straightforward, easy-to-follow advice. TWL Assistant Editor. Pleased to Humanitarian Fund, see the blog of my agent, Rachelle Gardner, included in How the Merchants Finance by Jane Essay the list. She does indeed care about writers, and indirect laws and rules, not just her clients. Thanks for this post. We agree, Richard we love how much advice Rachelle shares with writers! TWL Assistant Editor.
Its an honor to have Romance University included in your top 100 list thanks so much! And what great company we keep =) Much thanks to The Write Life! Youre welcome, Carrie! TWL Assistant Editor. Thank you so much for including my blog in the Craft list! Im honored to be included with so many of my favorite blogs. #128578; I cant imagine how much work it is to develop this list each year. Thank you so much for everything you do! Youre welcome, Jami I loved your newest post about hitting milestones!
Putting the list together is How the of Venice G. White, a lot of work all thanks goes to writer Carrie Smith on that front but its a labor of love. Humanitarian Organizations: (UNICEF)? Thank you for reading! TWL Assistant Editor. Thank you so much for adding LittleZotz Writing to How the Merchants Created by Jane Essay, the list! This means SO much to death marches, me.
You have no idea. 3. And congrats to Merchants of Venice G. White Essay, all the other winners!! Lauren that link didnt go to a post. Human? Congrats on your first time too. Youre welcome, Lauren! The link didnt work for me either, but I found the post on your blog love the frame you made! TWL Assistant Editor. Weird! Thats definitely the right link, but, for How the Merchants of Venice Created Finance G. White Essay some reason, it seems to be putting in an extra space(?) at the end when its clicked.
Maybe this one will work: http://laurentharp.net/1st-award-of-2015/ Sorry about that! #128578; And thanks again. Thanks for including me on this list! Its a great resource for bloggers and writers alike! #128578;
We love your work, Kristi Come write a guest post for us! =) Alexis, founder of The Write Life. Youll also get a free copy of The Freelance Writers Pitch Checklist.
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But your essay isnt met with the lavish praise you expected. Book Example. When its tossed back onto your desk, there are huge chunks scored through with red pen, crawling with annotations like little red fire ants: IRRELEVANT; A bit of of Venice Created Finance by Jane G. White a tangent!; . ; and, right next to your best, most impressive killer point: Right so?. The grade your teacher has scrawled at the end is organic fertilizer uk nowhere near what your essay deserves. In fact, its pretty average. And the comment at the bottom reads something like, Some good ideas, but you didnt answer the question!. If asked a question about Keats, you should write about Keats.
If this has ever happened to you (and it has happened to me, a lot), youll know how deeply frustrating it is and Created Finance by Jane, how unfair it can seem. In An Indirect Laws And Rules. This might just be me, but the exhausting process of researching, having ideas, planning, writing and re-reading makes me steadily more attached to the ideas I have, and the things Ive managed to put on the page. Each time I scroll back through what Ive written, or planned, so far, I become steadily more convinced of its brilliance. What started off as a scribbled note in How the Merchants Finance by Jane G. White Essay, the margin, something extra to think about or to pop in if it could be made to fit the uk argument, sometimes comes to be backbone of a whole essay so, when a tutor tells me my inspired paragraph about Ted Hughess interpretation of mythology isnt relevant to my essay on Keats, I fail to see why. Of Venice Modern Finance G. White. Or even if I can see why, the thought of taking it out is wrenching. Who cares if its a bit off-topic? It should make my essay stand out, if anything! And an examiner would probably be happy not to read yet another answer that makes exactly the same points. If you recognise yourself in the above, there are two crucial things to realise. The first is that something has to change: because doing well in high school exam or coursework essays is book critique example almost totally dependent on being able to pin down and Merchants of Venice Created Modern G. White, organise lots of ideas so that an examiner can see that they convincingly answer a question.
And its a real shame to work hard on something, have good ideas, and not get the marks you deserve. Writing a top essay is indirect major laws and rules by a very particular and actually quite simple challenge. Its not actually that important how original you are, how compelling your writing is, how many ideas you get down, or how beautifully you can express yourself (though of course, all these things do have their rightful place). What youre doing, essentially, is using a limited amount of time and knowledge to really answer a question. It sounds obvious, but a good essay should have the title or question as its focus the whole way through . It should answer it ten times over of Venice Created Modern Finance by Jane G. White Essay in every single paragraph, with every fact or figure. Nations (UNICEF). Treat your reader (whether its your class teacher or an external examiner) like a child who cant do any interpretive work of their own; imagine yourself leading them through your essay by the hand, pointing out that youve answered the question here , and here , and here. Now, this is all very well, I imagine you objecting, and How the Merchants of Venice Created by Jane G. White, much easier said than done. Critique. But never fear! Structuring an essay that knocks a question on the head is something you can learn to do in a couple of easy steps. In the How the Created Modern Finance by Jane G. White next few hundred words, Im going to share with you what Ive learned through endless, mindless crossings-out, rewordings, rewritings and uk, rethinkings.
Ive lost count of the number of times Ive been told to write the question at the top of every new page- but for some reason, that trick simply doesnt work for me. If it doesnt work for you either, use this three-part process to allow the question to structure your essay: 1) Work out How the Finance Essay, exactly what youre being asked. It sounds really obvious, but lots of students have trouble answering questions because they dont take time to figure out exactly what theyre expected to do instead, they skim-read and then write the essay they want to write. Sussing out a question is a two-part process, and the first part is easy. It means looking at the directions the question provides as to what sort of essay youre going to write. I call these command phrases and in an indirect laws are made, will go into more detail about what they mean below.
The second part involves identifying key words and Merchants of Venice Created Finance by Jane, phrases. Use forceful, persuasive language to show how the points youve made do answer the question. My main focus so far has been on tangential or irrelevant material but many students lose marks even though they make great points, because they dont quite impress how relevant those points are. Again, Ill talk about holocaust death marches, how you can do this below. 3) Be brutally honest with yourself about whether a point is relevant before you write it. It doesnt matter how impressive, original or interesting it is. It doesnt matter if youre panicking, and How the Merchants of Venice Modern G. White Essay, you cant think of any points that do answer the question. If a point isnt relevant, dont bother with it. Indirect Are Made. Its a waste of time, and might actually work against you- if you put tangential material in an essay, your reader will struggle to follow the thread of How the Merchants of Venice Created Finance G. White Essay your argument, and lose focus on your really good points. Macbeth and in an democracy, major and rules by, Banquo meeting the witches on the heath by Theodore Chasseriau.
Lets imagine youre writing an How the of Venice Modern Finance Essay English essay about the role and book critique, importance of the three witches in How the Merchants of Venice Modern Finance by Jane, Macbeth . Essay On Personal Work. Youre thinking about the Merchants of Venice Created Modern G. White different ways in fertilizer, which Shakespeare imagines and presents the witches, how they influence the Created Modern Finance G. White Essay action of the tragedy, and Work, perhaps the extent to which were supposed to believe in Merchants Modern by Jane, them (stay with me you dont have to definition know a single thing about Shakespeare or Macbeth to understand this bit!). Now, youll probably have a few good ideas on this topic and whatever essay you write, youll most likely use much of the same material. However, the Merchants of Venice Finance by Jane detail of the phrasing of the marches question will significantly affect the How the Merchants of Venice Modern Finance by Jane G. White Essay way you write your essay. You would draw on similar material to address the following questions: Discuss Shakespeares representation of the human characteristics definition three witches in Macbeth . How does Shakespeare figure the supernatural in Macbeth ? To what extent are the three witches responsible for How the Modern Essay, Macbeths tragic downfall? Evaluate the example importance of the of Venice Modern Finance by Jane three witches in bringing about Macbeths ruin. Are we supposed to believe in critique, the three witches in Macbeth ? Within Macbeth s representation of the witches, there is profound ambiguity about the actual significance and How the Created Modern Finance by Jane, power of their malevolent intervention (Stephen Greenblatt). Uk. Discuss. Ive organised the Modern Finance by Jane Essay examples into Organizations: United Nations Childrenâs (UNICEF) Essay three groups, exemplifying the different types of questions you might have to answer in Merchants of Venice Created, an exam. The first group are pretty open-ended: discuss- and how-questions leave you room to set the scope of the essay. You can decide what the focus should be.
Beware, though this doesnt mean you dont need a sturdy structure, or a clear argument, both of which should always be present in an essay. The second group are asking you to evaluate, constructing an holocaust death marches argument that decides whether, and how far something is Merchants by Jane G. White true. Critique. Good examples of hypotheses (which your essay would set out to prove) for these questions are: The witches are the most important cause of tragic action in Macbeth. Merchants Of Venice Created Modern Finance Essay. The witches are partially, but not entirely responsible for Macbeths downfall, alongside Macbeths unbridled ambition, and that of his wife. We are not supposed to believe the Essay Statement for Master's in Social Work witches: they are a product of How the of Venice Created Modern Essay Macbeths psyche, and uk, his downfall is How the of Venice Finance by Jane Essay his own doing. The witches role in Macbeths downfall is deliberately unclear. Their claim to reality is shaky finally, their ambiguity is part of an uncertain tragic universe and the great illusion of the Childrenâs (UNICEF) theatre. (N.B. Its fine to conclude that a question cant be answered in black and white, certain terms as long as you have a firm structure, and keep referring back to it throughout the essay). The final question asks you to of Venice Created Modern Finance G. White Essay respond to a quotation.
Students tend to find these sorts of questions the most difficult to answer, but once youve got the uk hang of them I think the title does most of the work for you often implicitly providing you with a structure for your essay. The first step is breaking down the quotation into its constituent parts- the different things it says. I use brackets: ( Within Macbeth s representation of the witches, ) ( there is profound ambiguity ) about the Created Essay ( actual significance ) ( and power ) of ( their malevolent intervention ) Examiners have a nasty habit of Essay Work picking the most bewildering and terrifying-sounding quotations: but once you break them down, theyre often asking for something very simple. Merchants Modern Finance G. White. This quotation, for example, is United (UNICEF) asking exactly the How the Merchants Modern G. White same thing as the indirect other questions. The trick here is making sure you respond to all the different parts. You want to make sure you discuss the Merchants of Venice Modern Finance by Jane G. White Essay following: Do you agree that the status of the witches malevolent intervention is ambiguous?
What is Humanitarian United Nations Childrenâs Fund its significance? How powerful is it? James I, the King of England and Scotland at the time Macbeth was written, famously wrote Daemonologie, which encourages the practice of witch-hunting. Having worked out exactly what the question is asking, write out a plan (which should be very detailed in a coursework essay, but doesnt have to of Venice Essay be more than a few lines long in an exam context) of the material youll use in book example, each paragraph. Make sure your plan contains a sentence at the end of How the Merchants of Venice Created Modern by Jane G. White Essay each point about Essay Degree in Social Work, how that point will answer the question.
A point from my plan for one of the topics above might look something like this: To what extent are we supposed to believe in the three witches in Macbeth ? Hypothesis: The witches role in Created Modern G. White, Macbeths downfall is deliberately unclear. Their claim to reality is fertilizer uncertain finally, theyre part of an uncertain tragic universe and How the Merchants of Venice Created Finance, the great illusion of the theatre. At the human characteristics time Shakespeare wrote Macbeth , there were many examples of people being burned or drowned as witches There were also people who claimed to be able to exorcise evil demons from people who were possessed. Catholic Christianity leaves much room for How the Modern Finance by Jane G. White Essay, the supernatural to exist This suggests that Shakespeares contemporary audience might, more readily than a modern one, have believed that witches were a real phenomenon and did exist.
My final sentence (highlighted in red) shows how the material discussed in Humanitarian Organizations: Nations Childrenâs Essay, the paragraph answers the How the Merchants Created Finance by Jane G. White question. Humanitarian Childrenâs Fund (UNICEF). Writing this out at the planning stage, in addition to clarifying your ideas, is a great test of whether a point is relevant: if you struggle to write the Merchants Finance G. White sentence, and make the connection to the question and larger argument, you might have gone off-topic. Step Three: Paragraph beginnings and endings. This 16th century English illustration shows a witch feeding her familiars. The final step to making sure you pick up all the possible marks for answering the characteristics definition question in Merchants of Venice by Jane G. White, an essay is ensuring that you make it explicit how your material does so. This bit relies upon getting the beginnings and endings of paragraphs just right. To reiterate what I said above, treat your reader like a child: tell them what youre going to say; tell them how it answers the Organizations: United Nations (UNICEF) question; say it, and then tell them how youve answered the question.
This need not feel clumsy, awkward or repetitive. The first sentence of each new paragraph or point should, without giving too much of your conclusion away, establish what youre going to How the of Venice Modern by Jane Essay discuss, and how it answers the question. The opening sentence from the paragraph I planned above might go something like this: Early modern political and religious contexts suggest that Shakespeares contemporary audience might more readily have believed in witches than his modern readers. The sentence establishes that Im going to discuss Jacobean religion and witch-burnings, and also what Im going to use those contexts to definition show. Id then slot in all my facts and examples in How the Merchants Created Finance Essay, the middle of the Statement in Social Work paragraph. How The Merchants Of Venice Created Modern Finance G. White. The final sentence (or few sentences) should be strong and decisive, making a clear connection to the question youve been asked: Contemporary suspicion that witches did exist, testified to in an democracy, major laws and rules are made by witch-hunts and exorcisms, is crucial to our understanding of the witches in Macbeth. To the How the Merchants Created by Jane G. White Essay early modern consciousness, witches were a distinctly real and dangerous possibility and the witches in Fund, the play would have seemed all-the-more potent and terrifying as a result.
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Teachers do choose the questions they set you with some care, after all; chances are the of Venice Modern by Jane G. White Essay question you were set is the more illuminating and indirect major are made by, rewarding one as well. 40 Responses to Focus and How the Modern Finance G. White Essay, Precision: How to Write Essays that Answer the death marches Question August 21, 2014 at 8:22 am, Kristen Webster said: I have been reading your articles on How the of Venice Created, better essay writing and in an indirect are made, I am wondering whether you can provide an example of a well written essay please? August 21, 2014 at 11:59 am, ORA Admin said: We havent produced any sample essays ourselves.
However, there is a huge amount available online the Student Rooms sample essays might be a good place to start. We hope this helps. January 20, 2015 at 1:54 am, kot said: Thank you this was very helpful! March 18, 2015 at How the Finance Essay, 7:56 am, Kos cahe said: How do you answer a to what extend essay question? March 18, 2015 at 12:34 pm, ORA Admin said: A to what extent essay question is effectively a yes or no essay question thats phrased in a more helpful way. For example: To what extent did his desire for a son influence Henry VIIIs decision to book example break from the Catholic Church? Did his desire for a son influence Henry VIIIs decision to break from the Catholic Church?
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