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  • Digg it UP - Aw, Man: You Mean I Have to Have a (Business) Plan?

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    ntial financiers (loaners of money, in other words) want to see your goods.

    Let’s face it, most of us need money as we’re starting our new business. The smallest, most bank-draining expenses will crop up, so we will need it to get

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    Is this you? The whip-smart businessperson with all the best intentions and no business plan?

    I am continually surprised, whenever I speak with my consulting clients or attend a public speaking engagement, to discover that many people start a new business without a business plan.

    “What do I need that for?” they ask.

    Inevitably, I roll my eyes and answer, “So you know where you’re going.”

    You wouldn’t consider driving somewhere new without a map, and similarly, you shouldn’t start a new business without a business plan. You may not believe me now, but your business plan is the single most important aspect of your business.

    “What about my expertise?” you might say.

    Your expertise is certainly very valuable, as are experience, skill, dedication and stamina to work long hours. But none of these may get to even make an appearance if your business plan is unprofessional, or is not presented in the way potential financiers (loaners of money, in other words) want to see your goods.

    Let’s face it, most of us need money as we’re starting our new business. The smallest, most bank-draining expenses will crop up, so we will need it to get s

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    ple start a new business without a business plan.

    “What do I need that for?” they ask.

    Inevitably, I roll my eyes and answer, “So you know where you’re going.”

    You wouldn’t consider driving somewhere new without a map, and similarly, you shouldn’t start a new business without a business plan. You may not believe me now, but your business plan is the single most important aspect of your business.

    “What about my expertise?” you might say.

    Your expertise is certainly very valuable, as are experience, skill, dedication and stamina to work long hours. But none of these may get to even make an appearance if your business plan is unprofessional, or is not presented in the way potential financiers (loaners of money, in other words) want to see your goods.

    Let’s face it, most of us need money as we’re starting our new business. The smallest, most bank-draining expenses will crop up, so we will need it to get

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    nd similarly, you shouldn’t start a new business without a business plan. You may not believe me now, but your business plan is the single most important aspect of your business.

    “What about my expertise?” you might say.

    Your expertise is certainly very valuable, as are experience, skill, dedication and stamina to work long hours. But none of these may get to even make an appearance if your business plan is unprofessional, or is not presented in the way potential financiers (loaners of money, in other words) want to see your goods.

    Let’s face it, most of us need money as we’re starting our new business. The smallest, most bank-draining expenses will crop up, so we will need it to get

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    expertise is certainly very valuable, as are experience, skill, dedication and stamina to work long hours. But none of these may get to even make an appearance if your business plan is unprofessional, or is not presented in the way potential financiers (loaners of money, in other words) want to see your goods.

    Let’s face it, most of us need money as we’re starting our new business. The smallest, most bank-draining expenses will crop up, so we will need it to get

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    ntial financiers (loaners of money, in other words) want to see your goods.

    Let’s face it, most of us need money as we’re starting our new business. The smallest, most bank-draining expenses will crop up, so we will need it to get started. There’s certainly no shame in that. But simultaneously, we’re all taught that debt is a bad thing, and not to get into it.

    I don’t want to encourage irresponsibility, but it may help to remind ourselves that most companies carry debt. Yes, even Microsoft carries debt for a specific purpose. Debt can help establish a credit record, or build a relationship with a lender (in case you need money later). It can also become a calculated risk for greater growth in the long term. If borrowing money can help you make and sell more products now, it’s generally worth the risk of establishing debt in the short term.

    If you’re new to business plan writing, and the very idea of writing one causes you to go to bed with a migraine, one of my favorite software programs is Business Plan Pro, which does most of the work for you (and who doesn’t like that?). Simplifying Excel and QuickBooks imports (for those all-important balance s

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