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If you are seeking finance for your business, you will need to show banks and investors why they should invest in your business. Lenders and investors will only risk their time and money if they are confident that your business will be successful and profitable.

Size your business plan to fit your business. Remember that your business plan should be only as big as what you need to run your business.

A business plan is a documented set of business goals, objectives, target market information and financial forecasts that you are aiming to achieve over a certain period of time. It is important to prepare a business plan when starting or growing your business and review it regularly to keep it up to date.

Don’t make common mistakes. I’ve seen thousands of business plans, good and bad, and I can tell you that avoiding these common business planning errors will put you far ahead of the curve.

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