According to James Caan, chairman of The Start-up Loans Company, there is no golden formula for business plans. Yet, paradoxically, Caan says that planning is a crucial step for business start ups.
he says, “I see value in the business plan as twofold. The most important part is the value for you, as the company’s founder and owner. You can use it to iron out every facet of your company. You then use your business plan to keep you in check – ensuring you are achieving what you set out to do. A long-term goal could be getting support from third parties for your business, whether that’s through investment, funding or gaining new customers.”
“So what does one look like? During my years in business I have written many business plans and I have seen many more. The one thing I can say with certainty is that there isn’t a golden formula. Your business plan is yours. It is personal to you, but there are certain things you should keep in mind when writing one.”
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