I truly believe that the business plan is the key to a successful startup.
Part of it is just plain old jumping through the hoops. If you have the intelligence and stamina to get through the business plan writing process, you've demonstrated two qualities that you have to have to run a successful business.
But the other part is that a good business plan will provide a blueprint for your new business's success by focusing your vision, revealing the obstacles you need to surmount, and possibly, serving as a financing tool.
Obviously, it's important to get the business plan right. Read The 7 Most Common Business Plan Mistakes to ensure that your business plan is going to serve you well.
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