By Mildred J at August 23 2019 12:56:42
As a matter of fact, did you know that the Small Business Administration says that 50% of small business owners will fail sometime during their first 5 years? There are lots of reasons but one big one is that owners don't have a plan. Another is they have picked a product or service that doesn't have a big enough market to sustain their business and sometime during their future they will run out of customers.
Business plans are mostly about organizing, formalizing, and committing to a specific plan_of_actions. Such a document generally presents the objectives, strategies, analysis, and a detailed roadmap for implementation. Underlying a plan_of_action is comprehensive analysis of historic, current and proposed results all supported with assumptions. If anyone doubts the interest in business plans, a Google search returns more than 62 million and Amazon list more than 77꺜 titles concerning this subject.