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2. The Opportunity. A profile of the business itself what it will sell and to whom, whether
the business can grow and how fast, what its economics are, who and what stand in the way
of success.
product or service should be fully analyzed in terms of its opportunity and context.
an attractive, sustainable business modelcompetitive edge and defend it.
3. The Context. The big picture the regulatory environment, interest rates, demographic
trends, inflation, and the like basically, factors that inevitably change but cannot be
controlled by the entrepreneur.
context is favorable with respect to both the regulatory and the macroeconomic environments.
4. Risk and Reward. An assessment of everything that can go wrong and right, and a
discussion of how the entrepreneurial team can respond.
Risk is understood, and the team has considered ways to mitigate the impact of difficult events.