You may have heard the old cliché: failing to plan is planning to fail. This is true when it comes to your business. Entrepreneurs are often people of action. You might want to get going with product development, selling and running your business but remember, it’s worth the extra effort to take some time in the early stages of a business to think through exactly what you want to achieve and how you want to achieve it.

A business plan is critical. It will help you structure your ideas, understand whether your idea is feasible and set goals. Of course a business plan is essential if you need to make the case for your business to outsiders, including potential clients, investors, the bank, and possibly even future employees.

A business plan will help:
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