Successfull business plan
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Every entrepreneur wants to own a successful and profitable business, but it's not always clear how to get there. If you want your small business to be more profitable than ever before, here are some suggestions for how to make it happen. And remember: Building a successful business is a marathon, not a sprint. Other studies have shown that it takes several positive customer experiences to make up for one negative one.
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Writing a business plan
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. We often make the mistake of thinking of a business plan as a single document that you just put together when you're first starting out and then set aside.
Whatever your reason for writing a business plan, the task will probably still feel like a homework assignment. A business plan is a roadmap describing a business, its products or services, how it earns or will earn money, its leadership and staffing, its financing, its operations model, and many other details essential to its success. Investors rely on business plans to evaluate the feasibility of a business before funding it, which is why business plans are commonly associated with getting a loan. Business planning is often used to secure funding, but plenty of business owners find writing a plan valuable, even if they never work with an investor. We'll also send you updates on new educational guides and success stories from the Shopify newsletter.
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