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A good business plan can help you secure finance, define the direction of your business and create strategies to achieve your goals. Writing a business plan is one of the most crucial elements of starting a business. However, it does not have to be the most frustrating.
Any funder worth his or her salt wants to see it right off the bat. Moreover though, a solid business plan is a living document that will continue to guide your efforts as your business grows. A lot of those mistakes (most of them, in fact) are the result of poor planning. Bad location, a marginal niche, having no specific user in mind, raising too much or too little money--all of these issues can be prevented or at least mitigated with good planning.
Be specific. Being specific is just as important as being concise. The details will help you drill down into how you will actually deliver your plan.
A standard business plan consists of a single document divided into several sections, including a description of the organization, the market research, competitive analysis, sales strategies, capital and labor requirements, and financial data.
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