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By Kimberly P. Albright on July 05 2018 03:18:07
Your business plan should present what a banker or venture capitalist expects to see, in the order they expect to see it in. Following a standard business plan outline will keep you on track, and save you from botching your best chance at getting your business funded.
Start from the very beginning understanding that your business plan ought to be specific to your business needs and objectives. Every business ought to have a plan, but not every business needs a full formal plan with carefully crafted summaries and descriptions.
Set yourself a reminder to review your business plan regularly. If you have a team in your business, holding brainstorming sessions is a good way to benefit from their knowledge - it ensures you are all on the same page and that you get their support.
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.
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