Why business plans are important.

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Podcast 2

Why are business plans important? *

3 points

A plan will take your business from conception to reality mapping out the way to get there.

The business plan will not allow emotions to get in the way so you view the business from a true angle.

It will show the businesses strengths and weaknesses.

All of the above.

Should you follow your business plan verbatim?

3 points

Yes, never stray from the original business plan.

No, business plans are meant to be a living plan, flexible and change to redefine your goals as needed.

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What does B2C mean? *

3 points

Business to Company

Business to Consumer

Business to Business

What is the number one thing a bank will require in order to obtain a loan? *

3 points

A business plan that contains a financial forecast/plan.

Collateral.

Banks will require the business owner to have already worked in this particular field of business for a minimum of 5 years prior.

All of the above.

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