By Mary R. Badger on August 04 2018 06:52:46
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.
That doesn’t mean you have to bust out Word and start the plan from scratch. A template is great--you probably aren’t doing anything that hasn’t been done before, so it provides a proven structure for your plan. Pretty much everything on it can be customized.
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.
Business planning is essential for the success of any business. A business plan provides direction, keeps you on track and is usually a requirement when you seek finance. Read Why do I need a business plan to find out how writing a business plan can assist your business.
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