5 Things to Know and Do Before Writing Your Business Plan
13 Jan 2023
News
1. Your business plan is a marketing document
The first thing you must understand before writing your business plan is that your plan is a marketing document. It is not a 50-page dossier explaining everything there is to know about your business. Rather, the document's purpose is to convince others, such as investors, lenders, partners, employees, etc. to invest their time, money and/or resources in your company.
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1. Focus on your ideal customer
You won't get far if you don't understand your ideal customer. Many brands achieve this by creating buyer personas through market research and gathering insights from their current customers.
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1. The right loan type
As with personal finance, there are several different forms of business loans, so you need to choose the one that best suits the needs of your enterprise.
Traditional loans: These are the business equivalent of a personal loan, which can be secured or unsecured...
Does business really have to be all . . . business? Being a leader isn’t just about profit and loss statements; it’s also about being human. Effective leaders know that their listening skills and ability to empathize with staff and customers can be just as essential as sharp instincts about...
