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10 Reasons You Need a Business Plan

  1. Exude an aura of professionalism.

  2. Make costly mistakes on paper instead of in your business.

  3. Start thinking and acting like an entrepreneur, such as making key decisions.

  4. Begin to understand the business issues involved in running a business.

  5. Better organize your thoughts and articulate your concept.

  6. Possess greater confidence during implementation of your business concept and strategy.

  7. Better identify the resources needed for implementation of the business strategy.

  8. Quickly identify the key strengths and weaknesses of the business.

  9. Identify the impact of external forces on your business.

  10. Allow potential investors to evaluate your business in business terms.

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