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Having a great business idea is only half of what you need to achieve success in a business.
The other half is implementing your idea.
Many owners of small businesses think there is no need to plan because their businesses are so small. But with this approach things start going wrong even before the business starts.
Planning helps you to consider the future of your business and to anticipate what is likely to happen. It also helps you measure the success of your business.
Planning helps you see some of the pitfalls that would lead to failure if left unattended.
Proper planning allows you to monitor your progress and makes it easier to notice when things are not going to expectations.
It helps you maximise your strengths, work on your weaknesses and capitalise on opportunities.
You will be able to identify threats in advance, thus preparing you for your business.
The outcome of you planning should be reflected in your business plan. Only after you have finished your planning can you write a winning business plan.
Taking your idea and transferring it to paper as a business plan is one of the crucial steps that will take you closer to achieving your entrepreneurial dream.