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External use of a business plan

A business plan is a tool with which your essential qualitative and quantitative company information can be documented for investors in a compact form, information regarding existing growth or risk potentials, beyond annual financial statement and report. As an entrepreneur, you should know more about the goals, concepts, and instruments of an effective business plan to gain investors trust and convince them back your startup.

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Deadly Excuses for Not Writing a Business Plan

Most successful companies have some form of plan. A good business plan works from a model, which is using good information and mathematical assumptions. The information and assumptions used depend on the goals and desires of the entrepreneurial team starting the company.

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Win Your Investors’ Trust!

When you start your own small business, you are confronted by challenges on different levels. You must convince the investors to accept to back your small business. You need a backer – an angel investor or a venture capitalist. To land that backer, you need a business plan, which helps your business achieve the backing you seek.

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change your mind about Failure

If you are unable to accept your failures and take lessons out of them, you are not ready to start your own business. As starting a small business, no matter what, is at high risk, to fail is pretty much expected. You should enhance your sense of reality and accept your failures.

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