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Before writing a business plan

Business plans are often the linchpin to starting a successful enterprise. John Mullins believes you need to think before you write. The evidence indicates that the vast majority of business plans raise no money. Of those ventures that are financed, many if not most will fail. The first thing is that most business plans are written for opportunities that are fundamentally flawed. Why write a business plan for a no hope opportunity?
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Writing a Business Plan? Do These 5 Things First

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What is the Importance of a Business Plan?

Product and service reviews are conducted independently by our editorial team, but we sometimes make money when you click on links. Learn more. When you're first getting serious about starting a business, the first thing you should do is write a business plan. Business plans serve several key functions that make them indispensable for successfully launching a new company. Not only do they serve as a roadmap to guide you in the early days of your business, but they also serve as an opportunity to research market conditions, competitors and potential pitfalls you might not be aware of. Business plans are both an analytical and planning tool, two components that are essential for getting a new business off the ground. This guide offers you key insights into how to create a high-quality business plan that will serve your business now and in the future.
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What is the Importance of a Business Plan?

Maybe you think you don't need a step-by-step guide to writing a great business plan. Maybe you think you don't need a template for writing a business plan. After all, some entrepreneurs succeed without writing a business plan.
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Last Updated: January 12, References Approved. With over 15 years of experience in accounting, Keila specializes in advising freelancers, solopreneurs, and small businesses in reaching their financial goals through tax preparation, financial accounting, bookkeeping, small business tax, financial advisory, and personal tax planning services. Keila spent over a decade in the government and private sector before founding Little Fish Accounting.
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