By Cynthia A. Martin on June 13 2018 17:17:13
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.
If you are seeking finance for your business, you will need to show banks and investors why they should invest in your business. Lenders and investors will only risk their time and money if they are confident that your business will be successful and profitable.
The planning process helps you learn about the different forces and factors that may affect your success. If you are already in business, it helps you to step back and look at what is working and what you can improve on. Instead of worrying about the future, a business plan helps to give you a sense of control over your business and your livelihood.
A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals.
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