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Created with Fabric.js 1.4.5 Importance BUSINESS PLAN The One Document that Determines The Success or Failure of Your Business WHY YOU SHOULD WRITE A BUSINESS PLAN 1. Maps Your Future and Provides for Direction Shows cleary the dynamics of your business,uses of resources and the agendas that haveto be met. Businesses thatwrote businessplans grew than businesses that did not 30% 2. To Support Growth and Secure Fundings It is important to clearlydescribe the opportunity,as investors will want to know HOW CAN WE FROM YOURBUSINESS CONCEPT?? PROFIT 3. Ensure FOCUS Clearly points out key activitiesto focus on and not strayoff course 4. Allocation of Resources Source: Professor Andrew Burke, founding DirectorBettany Centre for Entrepreneurial Performance and Economics at CranfieldSchool of Management FASTER! - Initial Public Offering of stock (IPOs) - Acquisition by competitors - Mergers - Family succession - Management buy-outs 5. To Support a Successful Exit Investment decisions can be done in thepresent through a well-thought-out business plan. FACT ! Valuing firms are notorious for beingdifficult and subjective. A well-written plan will clearly highlightthe opportunity for the incoming investors,the value of it and increase the likelihood ofa successful exit by the current owner. Infographics done by: Asia Inc "When You Fail to Plan, You're Planning to Fail!" of a Resources are almost alwaysnever enough for a business.Thus, ensuring effective use is important
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