Business Planning is the most important part of an entrepreneur’s path to success. Without having a comprehensive Business Plan it is like trying to hit a target you don’t have, or setting sail without a compass, or trying to drive to a destination without a map.
As the classic saying goes
To many people, the concept of writing a business plan for their own business is a daunting one. Perhaps it would appear less daunting to view the process as simply writing the answer to three questions, namely:
Business plans are not only for those just setting out their journey in the marketplace. They are useful when acquiring a new business, forecasting growth, introducing a new product or service, entering a new market, responding to changes in the market or changing a significant aspect of your business.
Whilst many would acknowledge the importance of doing one, not many actually do it, and instead fumble along doing what they do, i.e. they “Fail To Implement”. This is often the crucial difference between those who achieve their goals and those that don’t.
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