Ask Why is a business plan important in a business startup?

[kayode10]

One of the most important tools you'll need when you want to build business is a business plan. A business plan acts as a roadmap for your startup. It helps you outline your goals you want to achieve with the business. Business plan defines your target market and identify your competition. It forces you to think critically about all aspects of your business and make sure that you left no stone unturned. A well-crafted business plan is often required to demonstrate the viability and to increase your chances to obtain loan from the bank. The business plan is a key resource that can increase your chances of success with your business. How did your business plan help you in your startup journey? I'll be looking forward to your response in the comment section