Sobering Statistics The statistics are sobering; half of all small businesses fail within their first four years. The number one reason: underestimating financial needs. You are well aware of the need for cash to get your business launched, but you must also take into account what may be happening with your business in 6 months,…
Planning out your business on paper first gives you long-term benefits with potential investors, employees, vendors, and suppliers. The business plan becomes your roadmap to success, with pertinent data that shapes the course of your business start-up and lets you adjust your journey as contingencies arise. Business planning templates are readily available and data sources abound at your fingertips. You will achieve a solid understanding of your business as you work through each section of your plan.