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  1. 14 Critical Reasons Why You Need a Business Plan - Bplans

    • One of the top reasons to have a business plan is to make it easier to raise money for your business. Without a business plan, it’s difficult to know how much money you need to raise, how you will spe… See more

    Business Planning Is Proven to Help You Grow 30 Percent Faster

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    Having A Business Plan Minimizes Your Risk

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    A business plan is like a roadmap for your business. It helps you set, track and reach business milestones. For your plan to function in this way, your business plan should first … See more

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    A Plan Helps You Figure Out If Your Idea Can Become A Business

    To turn your idea into reality, you need to accurately assess the feasibility of your business idea. You need to verify: 1. If there is a market for your product or service 2. Who your t… See more

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  1. A business plan is a document that outlines the goals, strategies, and feasibility of a business12. A business plan is important for several reasons, such as23:
    • Helping with critical decisions and avoiding mistakes
    • Proving the viability of the business to potential investors and lenders
    • Setting and communicating objectives and benchmarks for performance
    • Inspiring and retaining employees and management
    • Providing a guide for service providers and partners
    Learn more:

    A business plan is a foundational document that is essential for any company, no matter the size or age. From attracting potential investors to keeping your business on track—a business plan helps you achieve important milestones and grow in the right direction.

    www.bplans.com/business-planning/basics/why-yo…

    The importance of a business plan

    • 1. To help you with critical decisions ...
    • 2. To iron out the kinks ...
    • 3. To avoid the big mistakes ...
    • 4. To prove the viability of the business ...
    • 5. To set better objectives and benchmarks ...
    www.waveapps.com/blog/importance-of-a-busines…

    To attract and retain top quality talent, a business plan is necessary. The business plan inspires employees and management that the idea is sound and that the business is poised to achieve its strategic goals. Importantly, as you grow your company, your employees and not you will do most of the work.

    www.growthink.com/content/20-reasons-why-you-n…
     
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