(Buying a Lottery Ticket Is Not Winning the Lottery)
Vignette: The Perfect Business Plan
“This project cannot fail,” Don said to me when presenting his business plan justifying his need for venture capital.
Don was convinced that his plan would work. He spent several years developing it. He patented all the major designs of his manufacturing process. He consulted several experts in the field who agreed that his ideas were sound and well presented. The technology was readily available. The market was in need of this new way of using energy. The only drawback was the lack of the initial capital investment to start production.
Don spent quite some time preparing his presentations, brochures, prospectuses, and even a website. ...
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