Why Is a Field-Based Reality Check Important Before Writing a Full

question 21

Essay

Why is a field-based reality check important before writing a full business plan? Give an example of the types of learning and validation a reality check can provide and why this important to know before pitching to investors.

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Definitions:

Health Insurance

A system or policy that covers the cost of an insured individual's medical and surgical expenses.

Sustainable Development

Growth that caters to current demands while ensuring that future generations can also fulfill their needs.

Triple Bottom Line Approach

A business strategy focusing on social, environmental, and financial success simultaneously.

Maximizing Profits

The process of increasing the difference between the revenue generated and the costs incurred by a business.