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Family Business Succession Planning Uk The Best Of Plan Template Small Checklist Case Study Farm

By Lydia F. Brown on June 13 2018 14:07:18

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.

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 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.

At its core, a business plan helps you prove to yourself and others whether or not your business idea is worth pursuing. It’s the best way to take a step back, look at your idea holistically, and solve for issues years down the road before you start getting into the weeds.

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