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Why You Need a Business Plan

In today’s society where a lot of small business owners might be consumed with social media marketing, constructing a fancy website and networking on LinkedIn, sometimes the basics of business are overlooked. One of the things that some small businesses overlook is the need for a business plan. A professional, comprehensive business plan is absolutely necessary when considering starting a new business. Think of a business plan as your foundation. It will help you identify your goals, target market, growth objectives, staffing, financing and organizational structure.

As a small business banker, it is the first thing I ask my prospective…

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