By Carly W at August 11 2019 05:15:28
Don't Make Assumptions About Customers _ To be an entrepreneur does require plenty of self_confidence, sometimes almost a bloody_minded determination to make your business work. But this confidence spilling over into thinking that you know what 'the market' wants can be dangerous, without checking that it's true. You need to do your research that the market does ultimately want what you will be offering, whatever products or services you will be selling.
In many cases business plans are very important but so much of the time it's a plan to try to convince someone else that you know what you are doing with your business like banks, investors, partners, etc. Now it's true that a well written business plan can also be a major benefit to your success as well if done right. It can guide you and keep you on track and can be the vehicle to get you were you want to be especially with so many outside forces now days that bombard you. A plan can be extremely important to your success especially when you look at the statistics that says 51% of small businesses fail sometime during their first 5 years.