Do You Have a Business Plan Event?
Danger: Don’t confuse not having a business plan event with not needing or wanting a business plan. The business plan event forces you to present a plan.
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It might be that you’re seeking outside investment, or applying for business financing from a bank or other lender, or you’re involved in a business class that requires a business plan, or you’re going to enter a venture contest that requires a business plan. |
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| It’s because of these business plan events that people confuse the idea of needing a business plan with wanting business planning. Suddenly experts can make themselves feel good by advising people not to do the formal business plan because they don’t have a business plan event. It sounds like they are saying don’t plan, when what they mean is more like don’t bother to do thebig, ponderous formal plan document. |
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This potential confusion is dangerous. Don’t deprive yourself of planning just because you don’t have to present a formal plan to outsiders. Plan your business regardless. That’s why I’m suggesting that you plan as you go. |
