By Ellen L. Montero on June 13 2018 16:22:12
A business plan is not a document you create once and store in your bottom drawer. It is a living guide that you should develop as your business grows and changes. Successful businesses review and update their business plan when circumstances change.
Business planning is essential for the success of any business. A business plan provides direction, keeps you on track and is usually a requirement when you seek finance. Read Why do I need a business plan to find out how writing a business plan can assist your business.
A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals.
It is definitely not the most exciting part of starting a business. In fact, if you’re like a lot of entrepreneurs, you’re probably going to find yourself pulling a few all-nighters to get one done before heading into your first pitch for funding. Because that’s the thing--your business plan is a pretty important.
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