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Top Ten Strategic Business Plan Myths of Solo Entrepreneurs

Research conducted recently of 29,000 business startups noted that 26,000 of these unsuccessful. Of individuals failures, 67% didn’t have written strategic business plan. Think this is a coincidence?

Here’s the very best 10 myths Solo Entrepreneurs frequently have about strategic business plans-usually, why they do not get one. De-bunk the myths, and find out how getting a strategic business plan for the solo business, can really be fun and easy–and may jumpstart your ability to succeed!

1. Myth: I do not require a strategic business plan–it is simply me!

Beginning a company with no plan’s like going abroad with no map. You may have an enjoyable experience on the way, and meet lots of buddies, but you’ll probably finish up in a completely different place than you initially put down for-and you will need to phone home for funds for the return ticket.

Solo Entrepreneur Reality: Effective Solo Entrepreneurs realize that the exercise of making an agenda for his or her business really enables them to consider all of the critical facets of operating a business, make smarter business decisions, and obtain to profitability sooner.

2. Myth: I must buy strategic business plan software before I’m able to start.

Strategic business plan software is available in many sizes and shapes, and costs. Most are more geared at small , growing companies with employees.

Solo Entrepreneur Reality: Software could be useful-but it is not needed. Software programs are more prone to help for those who have a classical type business, just like a restaurant or perhaps a typical talking to business.