By Glen J. Espino on June 13 2018 13:59:49
You may want to consider the following key questions to help determine if you are ready to start writing your business plan.
~ Have you thoroughly refined your business idea so you have a good understanding of how your business will operate?
~ Have you researched your business concept to determine if there is a need for it in the marketplace?
~ Have you completed a feasibility study to determine expected level of success?
~ Do you have the money required to start and grow the business?
~ Are you prepared to invest significant time into the business to get it up and running?
A business plan is a blueprint for how your business will run and reveals what future direction your business will take. Understandably you will want to be careful who you show your plan to and avoid your competition seeing it.
Don’t make common mistakes. I’ve seen thousands of business plans, good and bad, and I can tell you that avoiding these common business planning errors will put you far ahead of the curve.
Effective business planning can be the key to your success. A business plan can help you secure finance, prioritise your efforts and evaluate opportunities. It may initially seem like a lot of work; however a well prepared business plan can save you time and money in the long run.
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