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Write an introduction to an informative and factual blog post titled "Do I need a Business Plan?" One of the hardest things for any startup is getting up to speed with everything they need in order to start their business. But one on the most important parts of any new business is making sure that it’s financially viable. This is so important because many businesses will try to launch without a solid financial plan only to have the money run out or realize that their business is barely breaking even. A business plan helps identify the different expenses of starting your business and how you are going to cover them. It should also explain the financial standing of your company. It’s also used as a tool to communicate with investors, family members, friends, other companies, and other professionals about what you are planning on doing. Now that you understand what a business plan is, we can move on to some suggestions for you. 1. Start with a basic spreadsheet. Try to tackle the basics of this first and start on there. This will allow you to see where your money would come from and where it would go if you had a plan. 2. Planning is a two-way street, so make sure that everyone involved in your business knows what’s going on and when! You want people to be involved so they have different opinions, ideas, and input for the future of your business. 3. If you have any employees, a business plan will be a good tool to present to them before they sign a contract. Maybe they would not have signed the contract if they realized that there was going to be a budget and you would need to know about their billable hours 4. Employees also may want to talk about what their pay is going towards as well as what benefits you plan on offering. They may also want to know if there are going to be raises in the future, bonuses, or work from home opportunities. 5. Lastly, doesn’t hurt to ask for a few improvements. If you have employees, they may be willing to work for a discounted price or even free as long as they know all of the things that they are going to get from working together. 6. The business plan is very time-consuming and may take a lot of research. The best way to start this is by asking people you trust their input and opinions about what should be included in your plan. You may want to consult with different people, but make sure that you conduct an objective search and base your decisions off of a solid foundation of knowledge from other knowledgeable people before starting this work.
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