All entrepreneurs and business owners plan to grow their companies. However, in order to make that growth happen, you’ll need to create an actual business plan.
There are numerous benefits to creating a business plan; perhaps the most important reason is the fact that no lender will take you seriously if you don’t have one. In addition to helping you acquire funding, a great business plan can serve as a best practices guide for you and your staff while helping you identify milestones and stay on track. It can also be a resource for planning and managing cash flow.
We’ve already covered what you need to do in order to create a good business plan. But, just as important, you need to know what not to do as well. Here are five common business plan mistakes to avoid: Continue reading “Entrepreneurs: Avoid These 5 Common Business Plan Mistakes”