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Business Plans

What are Business Plans?

Business plans prove that you’re serious about your business. A formal business plan is necessary to show all interested parties — employees, investors, partners and yourself— that you are committed to building the business. Creating your plan forces you to think through and select the strategies that will propel your growth.

  • To prove that you’re serious about your business. 
  • To establish business milestones.
  • To better understand your competition. 
  • To better understand your customer. 
  • To enunciate previously unstated assumptions.
  • To assess the feasibility of your venture.
  • To document your revenue model.
  • To determine your financial needs.
  • To attract investors.
  • To reduce the risk of pursuing the wrong opportunity.
  • To reduce the risk of pursuing the wrong opportunity.
  • To force you to research and really know your market. 
  • To attract employees and a management team.
  • To plot your course and focus your efforts.
  • To attract partners.
  • To position your brand.
  • To judge the success of your business. 
  • To reposition your business to deal with changing conditions.
  • To document your marketing plan.
  • To understand and forecast your company’s staffing needs.
  • To uncover new opportunities. 

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