The Importance Of A Business Plan Before You Start Your Business
Play episode · 17 min

It is common and normal to get excited about starting your very own business. Maybe you’re passionate about a particular project or area that you think would make a great business. Maybe you have just always wanted to be your own boss and have some freedom in your life.

Whatever the reason you should always start with a well researched business plan. The importance of a business plan can not be overestimated when it comes to starting and running a business.

A good business plan will:

  • Explore the viability of your business idea
  • Explore the opportunities that exist in your selected market
  • Prevent you from making costly mistakes
  • Prevent you from entering into high risk transactions
  • Give you clarity and transparency about what you are signing up for.
  • Ensure you are entering into a commitment that will achieve your goals both personally and financially
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