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Once you’ve got a business plan in place, it’s a good idea to regularly review and update it to: Developing your business plan helps you to step back and look at what's working in your business and what you can improve on.
If you have a team in your business, holding brainstorming sessions is a good way to benefit from their knowledge - it ensures you're all on the same page and that you get their support.
To write an effective business plan you'll need discipline, time and focus.
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A complete, thoughtful business plan is one of the most valuable tools in helping you reach your long-term goals.
Lenders and investors will only risk their time and money if they're confident that your business will be successful and profitable.
A thorough and well-researched business plan: Your marketing plan is also a crucial part of helping you to attract funds.
Business planning can seem overwhelming and time-consuming, but many successful businesses look at it as an opportunity.
The planning process helps you learn about the different forces and factors that may affect your success.
If you're already in business, it helps you to step back and look at what's working and what you can improve on.
Instead of worrying about the future, a business plan helps to give you a sense of control over your business and your livelihood.