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Set aside enough time for business planning. The time you spend will save you far more time after your business is up and running.
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In the planning process, involve everyone who will ultimately help make your plan happen. Good plans should guide and inspire.
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Set clear goals and objectives. Make sure you have measurable outcomes and feet-to-the-fire timelines.
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Gather all the information you need. An effective plan depends on a complete and accurate understanding of your market, your customers, your financial situation, and your business environment.
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Write a plan that people will read. A business plan only works if those in your target audience — whether investors, prospective partners, board members, key staff, or others — actually read and understand it, so you need to create a plan that's concise, complete, and readable.