By Lydia F. Brown on July 11 2018 16:03:08
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.
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.
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.
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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