There are plenty of naysayers who shout “You don’t need a plan, just shoot it from the hip.” Those same people may be at a disadvantage when it comes to business success.
Louise Witt writes, “It’s crucial to have a clear, intense vision of the business you want to start. Without it, most entrepreneurs fail.”
In her article, How To Succeed In Small Business she reveals a discussion with Robert Baum, an assistant professor of entrepreneurship at the University of Maryland’s Robert H. Smith School of Business, who says “Successful entrepreneurs have something that unsuccessful ones don’t have: the vision thing.” She says Baum studied fledgling small-business owners and found that those who have a clear idea of how their companies will prosper are often more successful.
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