Business Planner, Not a plan writter
Nine out of ten investor groups and lenders say the majority of business plans they receive do not provide the information needed to match their funding criteria. Too often boiler plate or plans using a general template are submitted. Many make the mistake of viewing a business plan as nothing more than a creative writing exercise that can be completed in a few days; a one-time document or something to be done cheaply and quickly to attach to a loan application or give to potential investors. res ipsa loquitur (Latin for "the thing itself speaks") ... the "facts speak for themselves." A Small Business Administration (SBA) study revealed that the degree of business success is proportionately related to how comprehensive and detailed the business plan. The number one reason businesses fail is lack of capital. I maintain lack of capital is experienced due to poor or insufficient business planning. A US Bank study of failed businesses determined the num...
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