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Business plan the importance

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By QuickBooks India. Would be entrepreneurs are in a constant dilemma whether to write a business plan or simply take the plunge. They juggle between two approaches that have long been in a face-off with each other. The first approach claims that a startup should simply act on its business idea , become better and support itself. It should not waste time in preparing lengthy business plans that are good for nothing.
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The Importance of a Business Plan Essay

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Importance of Business Plan To an Entrepreneur

A business plan is a blueprint detailing how the gears of your business get in mesh to generate profits. A sound business plan contains the information needed for effective operation and management of the company. It explains what is possible for the business, how it will be done and why it will be successful. A business plan is a focusing device.
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Importance of Business Plan To an Entrepreneur

What is the importance of writing a business plan? A business plan is an outline of your business goals and objectives and how you intend to achieve them. Most people do not realize the importance of a business plan to the growth and development of a business. They feel it is a waste of time and not necessary to do as they consider there are more important things to do concerning the business rather than taking out time to draft a good business plan. They consider registering the company, acquiring assets, recruiting staff, advertising and promotion, funding of the business as more vital to the success of the business.
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Why write a business plan? Simple: The business plan is the blueprint for your business. If you wanted to build a house, you wouldn't walk over to an empty lot and just start nailing boards together.
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