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The Importance of Planning

October 7, 2005 by Dane Carlson | 3 Comments

RBC Royal Bank:

It is a common misconception that business plans are written for the sole purpose of obtaining financing. The most important reason for writing a business plan should be that it is an important tool for you. A good business plan will:

  • Draw a clear picture of your business objectives and give you goals to shoot for
  • Give you a better understanding of the industry and business you are getting into
  • Show the potential strengths and weaknesses of your business
  • Give prospective investors the means to determine whether your company is a suitable investment
  • Give you a chronology of events and financial milestones against which you can compare your actual results

via A Crash Course In Entrepreneurship.

In Planning | 3 Comments

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