This story appears in the October issue of. What entrepreneur hasn't been told of the need for a written business plan? But most, when asked whether they have one, would cast a guilty look at their shoes. Well, fret no more. Continuing research at Babson College, regarded as having one of the top entrepreneurship programs in the country, finds no statistical correlation between a startup firm's ultimate revenue or net income and the supposedly requisite written business plan.
NOMS Business Plan 2014 to 2015
The Myth of the Business Plan
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2011 Business Plan
There are three primary reasons that businesses fail: lack of a clear plan, lack of capital and poor management. A good business plan will help you do those things. Some people think that money is the answer to their problems. If they only had enough money they could hire better staff, find better customers, buy better equipment.