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Discuss four importance of a business plan

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From: Carlos E.
Added: 17.04.2021
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Do you really need a business plan? Is it worth the investment of time and resources? Your business plan should make it simple for potential partners and supporters of all kinds to understand your business model and financials. Writing your plan and reviewing it regularly gives you a better window into what you need to do to achieve your goals and be successful.
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What Is A Business Plan? – Meaning & Components

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4 Reasons Your Organization Needs a Business Continuity Plan (BCP)

Several challenges lie on the road to establishing a business. One of the biggest challenges for businesses worldwide is ensuring your business keeps operating, even during adverse times. Disasters can strike at any moment, and service outages can cost you millions of dollars in revenue. Can your business survive downtime or data loss? A detailed Business Continuity Plan BCP is not a short-term solution, but an aspect that requires significant time, resources, and collaboration from everyone in your company. A BCP cannot be approached the same way as a task on a checklist, that you can tick and move on from.
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What is the Importance of a Business Plan?

To raise money for your business. To make sound decisions. To help you identify any potential weaknesses. To communicate your ideas with stakeholders.
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Why write a business plan? If you wanted to build a house, you wouldn't walk over to an empty lot and just start nailing boards together. Yet, unlike a house, a business isn't static.

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