How does a business plan help small business owners succeed?
1) It helps you by providing direction for your business. It answers the following questions: What type of business are you starting? What are your goals? How will you reach your goals? Who are your customers? Who is the competition? Where should you locate your business? How will you finance your business? How will people find out about your business? 2) It helps you by providing information to other people who could help you succeed, such as investors, banks, potential partners, and future employees. Preparing a Business Plan takes time and effort, but, in the long run, it will save you time and effort. It will help you find out: Can your business make money? Do you have the time, energy and resources to make your business work? How quickly will your business grow and how much will the growth cost? What are the benchmarks that will show how your business’ planned growth compares to its actual growth? If you decide the business can succeed and you can make it work, the Business Plan w
