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- A business plan is important because it12:
- Helps you grow 30% faster
- Is a necessary part of the fundraising process
- Minimizes your risk
- Crafts a roadmap to achieve important milestones
- Helps you figure out if your idea can become a business
- Helps you make big spending decisions with confidence
- Helps you with critical decisions
- Helps you iron out the kinks
- Helps you avoid the big mistakes
- Proves the viability of the business
- Sets better objectives and benchmarks
- Communicates objectives and benchmarks
- Provides a guide for service providers
- Helps you secure financing
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.14 Reasons Why You Need a Business Plan
- 1. Business planning is proven to help you grow 30 percent faster ...
- 2. Planning is a necessary part of the fundraising process ...
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… - People also ask
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- Communicate your needs. If you don’t understand how your business will …
- To help you with critical decisions. The primary importance of a business plan …
- To iron out the kinks. Putting together a business plan requires entrepreneurs …
- To avoid the big mistakes. Only about half of small businesses are still …
- To prove the viability of the business. Many businesses are created out of …
- To set better objectives and benchmarks. Without a business plan, objectives …
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