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Why You Need a Business Plan

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Why You Need a Business Plan

The most effective business plans are dynamic documents that evolve as your business grows and changes.
STARTING A BUSINESS

  • Turn your ideas and capital into a viable business
  • Secure financing from lenders and investors
  • Identify strengths, weaknesses, opportunities, and threats

MANAGING START-UP BUSINESS

  • Communicate your vision to your employees and external parties
  • Develop accurate financial forecasts
  • Compare planned versus actual performance

GROWING YOUR BUSINESS

  • Raise capital to expand
  • Create a strategy to manage growth
  • Take advantage of opportunities and mitigate risks

EXITING YOUR BUSINESS

  • Develop a plan to transfer ownership. sell your business, or close your business
  • Establish a timeline for the transition process
  • Identify financial and regulatory requirements

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