Writing a business plan dramatically increases your chances of success as an entrepreneur. A simple business plan is an excellent tool to get you thinking about your business idea and help you describe the fundamentals of a business. Preparing a business plan is a great way of working through your business idea. Before starting a business it is really essential to go through this exercise before committing further time, energy and money!
Why You Need to Write a Business Plan
There are a few very good reasons why you would want to write a business plan.
- To evaluate initial start up costs.
- To establish the fundamental viability of a project
- To define your products, services and customers and assess competitors.
- To map out the business model, the goals and the strategy used to achieve them.
- To communicate to others (banks, investors, partners, etc.) the business idea.
A simple business plan can be written very quickly by just following A Proven and Easy 10-Step Formula. Read more about the 10 steps to writing a good business plan in my next post: A Proven & Easy 10 Step Formula for Writing a Business Plan
For more advice & tips on starting a business, business plans, wealth & finance strategies, sign up at www.millionairemindsetsecrets.com
About Keelan Cunningham
Keelan Cunningham is an entrepreneur, multiple business owner, author, and personal finance/wealth building specialist. Keelan’s passion is helping people improve their business acumen and personal wealth creation strategies, so they can lead a truly wealthy life in all aspects and with any luck similarly transform the lives of others.
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