Flourishing businesses have one thing in common – a solid business plan. But it’s surprising how many people start a new business without one, and wonder why they struggle. Your business plan is your roadmap – and without a map, you risk losing your way.
Take time to think through your business plan before you take the leap. It should show exactly what:
- Your business goals and objectives are
- Your budget and forecasts are for your business
- Your competitive advantages are; and
- Your key risks are and how you’ll manage them.
Don’t be daunted – it’s not as hard as you might think. Your business plan doesn’t have to be horribly long or complicated. It’s simply a meaningful summary and map of the steps you need to take to achieve your business goals.
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