By Glen J. Espino on July 12 2018 00:20:19
Size your business plan to fit your business. Remember that your business plan should be only as big as what you need to run your business.
Creating your business plan is more than just getting your ideas down on paper for potential funders to see. It’s an exploratory process in which you can evaluate your options, test your assumptions about your idea, and even discover new opportunities. It might even lead you to kill off aspects of your business before investing too much time or money in them.
A business plan is a documented set of business goals, objectives, target market information and financial forecasts that you are aiming to achieve over a certain period of time. It is important to prepare a business plan when starting or growing your business and review it regularly to keep it up to date.
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.
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