February 7

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Who needs a business plan

By Entrepreneurcoach

February 7, 2021


who needs a business plan

2. Who Needs A Business Plan

You now know that anyone who is running a start-up needs a business plan, but you might be wondering if you need one. Even if you’re an established company, or you don’t need funding you can still benefit from a well-constructed business plan.

There are many people who need a business plan and don’t even realize it. Don’t be one of them. A business plan is much more than just a set of numbers for a lender to skim over and decide if It’s a good investment or not.

I am not saying that’s not how it will be used by some investors, but others will want to invest in you and not just your company. If you have partners, it’s the easiest way to keep them in the loop. You must be on the same page and with a well written plan you will be. You could do this without a business plan, but it does make it easier to have one plan that summarizes your business. One plan that is available to your partners, managers, and anyone else that requires access. A business plan will let you keep everyone that’s involved and could become involved on the same page.

When you start any new business, you’re going to want to start lean. Your business plan can help guide you in the proper direction.  The more prepared you are, the better equipped you are to run your business. The more questions your business plan answers, the more questions you can answer. The last thing you want to do is walk into a meeting with a potential investor and not have the ability to answer simple questions about your business.

It’s obvious that everyone can benefit from a business plan, but how do you start one?

Entrepreneurcoach

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