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Developing a Business Plan
Critical Steps to Writing a Business Plan
You have a great business idea and want to jump right in. The one thing holding you back may be lack of a clear business plan. While some would say having a business plan is an absolute must, others would argue that you can get started and be successful without one. I think the answer lies in how confident you are in your idea and how organized you are in terms of executing it. If you already have a clear plan in your head along with the steps you need to take and the means to take them, you may not see the need to create a page business plan. On the flip side, if your idea lacks clarity and you are considering seeking out funding from others sources, it would be best if you came up with a solid business plan.
Chapter 1 – Developing a Business Plan
Writing a business plan can be an overwhelming task. These feelings often translate into immobilization or confusion as to how to start the business plan. Starting a business plan begins with the first step. When writing a business plan, you must determine who will be reading it.
The Entrepreneurial Process Many successful entrepreneurs tend to follow a process to develop their businesses. This process contains four stages toward achieving their dreams. The processes are identifying an opportunity, developing a business plan, assessing the need for resources, and finally developing a management program designed to achieve success. The entrepreneur must develop an understanding of this process as an important step.