The Service Corps of Retired Executives - SCORE for short - helps new and existing small-business owners through one-on-one counseling at local chapters and in cyber-counseling at www.score.org. Here are some of the most common questions they encounter:
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Businesses succeed or fail for a variety of reasons. Hard work, persistence, the appeal of an innovative product, persuasive marketing, need, or consumer demand can all play a part. Some say luck has a role. Others say it's a matter of being in the right place at the right time. In still other cases, management takes the time to address all of the important aspects of ensuring the success of the business. Creating a vision and strategy, is followed by developing a well thought-out business plan, which is followed by the implementation of the plan.
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With few exceptions, business plans tend to change very little from year to year. In most cases it's a matter taking last year's plan, making a few modifications, changing the dates and the title page and attaching new financials. After all, we're not reinventing the wheel here. Your market is the same, your organization hasn't changed that much and you still have the same customers, give or take a few. So why change the plan.
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"Business Plan" is a two-word phrase that can quickly strike fear in the hearts of small business owners.
Intuitively we know it is not smart to operate a business without a plan. However, when we come face to face with the prospect of writing one, our immediate response is often "What is a business plan?" and "How do I learn how to write one?"
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