I love the Wall Street Journal. I read it online everyday and invariably find something to Tweet about or include on my blog. When I saw the article, “Why You Need a Business Plan,” in the small business section, I knew I had to write about it. It simply provided a great framework for why a business owner needs a business plan:
- It forces you to identify with your (and your company’s) strengths and weaknesses.
- It helps you figure out how much money you’ll need.
- It gives you clear direction, which can help eliminate stress.
- It will serve as a resume when you seek lenders, investors, or partners. (Also, here’s a great article detailing what you should know about raising money for your business.)
- It makes you evaluate the market for your product or service and size up the competition.
This makes sense. And as baby boomers…
View original post 502 more words