1. The “You Be the vC 3.1” feature focuses on August Smart Locks, a company that will enable users..

1. The “You Be the vC 3.1” feature focuses on August Smart
Locks, a company that will enable users to control the locks on their homes or
apartments via a smartphone. What are some of the main assumptions that
August’s business plan is based on?

2. What is a business plan?

3. What are the advantages of preparing a business plan for
a new venture?