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What is a Business Plan?

A business plan is a carefully prepared document that outlines the nature of the business, the objectives of the entrepreneur and the proposed actions that will be required to reach those objectives. As such, a business plan is analogous to a roadmap. It should be capable of guiding the entrepreneur through a maze of business decisions and alternatives that successfully avoid sidestreets and dead ends.

Why Plan?

Although not every entrepreneur formally prepares a business plan before starting his or her business, the advantages of doing so far outweigh the disadvantages. For example:


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