A Little Planning Goes a Long Way
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Whether or not you are seeking financing from lenders, it is essential that you create a comprehensive, thoughtful business plan. Management of your operations, promotion of your business, and articulation of your objectives all depend on developing a good plan. Think of it as a road map for your business, helping you determine what resources you will need to make a profit. Writing your business plan will make you think objectively about your business, and you may even come up with new business strategies in the process. The plan will also serve as a record that you can revisit over time to remain on target or reassess your direction. The following are a few of the most common pitfalls of writing a business plan, and some tips on how to avoid them.
