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While mistakes can be considered as important life lessons, there are mistakes that can be completely avoided simply by good planning, especially when it comes to #business. Drafting a #business plan is not rocket science, as long as you understand the dos and don’ts, you are good to go.
Googling “writing a business plan” yields approximately 99,600,000 results. There’s an abundance of tips on how to craft executive summaries, marketing plans, and projections. A great business plan needs to absolutely capture the attention of the reader.
When drafting your business plan, it is important you stick with short term projections and modify the plan as your business progresses. Even if you want to include long term projections, ensure that you place reasonable limits on them.
Most times, long term planning becomes meaningless because as time progresses, you discover that the reality of your business is different from your initial concept.
By Jumoke Alarape