Developing a Strategic Business Plan for Your Company

business plans are important

Congratulations, you’ve finally decided to turn your dream of a business into hard reality. But setting up a business means planning, planning, and more planning. It doesn’t matter how old you are. One of the best ways for anyone to develop a blueprint of where they want their business to go is to create a detailed business plan.

Do You Really Require A Business Plan?

Business plans are important according to the Tennessee State University (PDF). In fact, almost every business management course devotes at least three classes to educate students on framing and creating an effective business plan. However, not every entrepreneur has attended business school, and they might not kno

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2 Responses to Developing a Strategic Business Plan for Your Company

  1. We had an outsourcing business three years ago, we had a very impressive team at first. But when the months passed, I noticed that there were lots of problems and we didn’t have an enough strategic plan. After a year and 3 months, our business really failed, I should say that advance solid planning is very important when you are planning to have a business.

  2. ben says:

    If you want to know why a lot of small businesses fail, it’s because they don’t take the time to create a business plan. These are so important just to make sure that you are clear what your business goals are and where you want your company to go. Even if you really don’t need one, it’s worthwhile creating one just for the exercise. I think a lot more businesses would succeed if they took the time to create a business plan rather than just trying to wing it.

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