By Catherine R. Sands on August 04 2018 01:45:05
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.
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.
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.
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.
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