Importance of preparing a business plan to an entrepreneur

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Think of it this way: your business is an asset in which you have invested money. It has a revenue stream that supports your salary and possibly a sizable distribution of yearly profit. It should be increasing in value so that when the time comes, you will be able to harvest additional wealth. Planning an exit strategy is the most commonly overlooked consideration of a business strategy, yet the exit strategy plays a key role in determining the strategic direction for your company. By not proactively planning an exit strategy, business owners, their heirs or their successors may find that future options are limited.
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Prepare a business plan for growth

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Prepare a business plan for growth

Creating a business plan is a key part of starting any business venture. Nowadays business plans are used as an internal roadmap for the execution of the company since pitch decks have taken over when it comes to fundraising required materials. For a winning deck, take a look at the pitch deck template created by Silicon Valley legend, Peter Thiel see it here that I recently covered. Though, do not let it become a distraction and slow you down from creating an actual business either.
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6 Reasons Why Business Planning is Important

Business plans are dead — or are they? For many entrepreneurs, the business plan is an outmoded document that gets created mainly for the benefit of VCs and bank loan officers. Bootstrappers rarely think they need one to get by. A roadmap for even the smallest or earliest-stage idea.
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That's a shame. These myths keep a lot of people from the benefits of planning. If you're still skeptical, here are 10 benefits to business planning you shouldn't be overlooking:.
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