By on February 14 2018 07:44:58
A business plan gives an outline of your business, the market in which it will operate and how it aims to make money - and should answer this question: why will your business succeed when so many others fail?
It is definitely not the most exciting part of starting a business. In fact, if you are like a lot of entrepreneurs, you are probably going to find yourself pulling a few all-nighters to get one done before heading into your first pitch for funding. Because that is the thing--your business plan is a pretty important.
A business plan is a crucial activity for any entrepreneur or business owner looking to start or expand their business. Without a plan a business is likely to fail or stagnate.
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.
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