Why Business Planning Is Important to Small Business
Small business entrepreneurs tend to ignore the need to have a formal business plan when starting a small business, because of the false assumption that business plans are needed for investors only. There are good reasons for small businesses to have a formalized business plan, regardless of whether or not investors are involved.
By Day 3, post the following:
- Identify and explain three reasons for conducting strategic planning for small businesses.
- Provide a recommendation for when a formal business plan should be put together and what should be included in the business plan.
Include in your responses specific references to this week's resources, as well as other credible resources you used to formulate your Discussion post.
2-3 paragraphs in length as a general expectation/estimate.