By Mildred J at August 31 2019 16:17:32
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.
At this point, you may be tempted to skip writing a business plan altogether, viewing it as an unnecessary exercise in jumping_through_the_hoops, suggested by some old business professor who probably never held down a "real" job anyway. Maybe it's okay as an assignment for an MBA class, but it would be just too confining and irrelevant for today's fast_paced business environment. Anyway, you're ready! You've thought about this business venture for a long time and talked it over with friends and everybody agrees it's a great idea. Best to strike while the iron is hot!