The Dos and Don’ts of Writing a Great Business Plan

You probably have already known the importance of planning before making a big life decision. This is especially true when planning to start a business or acquire an existing one regardless of its size.

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Records would tell that there are a high number of small businesses that close or file bankruptcy every year, and most of them fail because they neglected planning their business before starting. So if you really want to save your time and money from getting wasted, then you should write a business plan before starting a venture.

Writing a business plan maybe time consuming and stressful, but there are a number of reasons why you MUST write one.  Normally, emergency financing is the first reason why businesses write a business plan. Businessmen show their business plan to lenders so that they can prove them that the business has a big chance to succeed, and is capable of paying its debt.

Another real value in creating a business plan is that it makes an excellent benchmark for annual review for you to refer to throughout the life of your business.

Writing a business plan is crucial if you are really serious about investing your time, energy and hard-earn money into starting a business. Do you want to know the proper way of creating a business plan?

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