If You Are Raising Money, You Need a Business Plan

There was a nice piece in Small Biz Labs yesterday, in which Steve King notes that you should have a business plan whether or not you expect investors to read it. He offers this summary in that post:

In my opinion, the best way to prepare for the pitch process is to develop a business plan. Preparing a plan organizes the entrepreneur’s thinking, requires going through all aspects of the business and helps to identify important issues facing the company.

Agreed.

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