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There are many types of business plans out there with many different purposes. In this video, we're going to cover some of the basic purposes of a business plan and why we even need one in the first place.
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What is a business plan? The traditional advice when looking to start a business is that you should start with a business plan.
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This is both good and bad advice. At the early stages of starting a business or venture of your own,
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much of your time should be spent doing things and not planning for every outcome.
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It's impossible to know what challenges you will face and whether your plan will work without going out and doing things.
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But there's some merit to understanding the big picture before you set up on your task.
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Let's start by defining a business plan.
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A business plan is a document that lays out the plan for your company for the next 3 to 5 years.
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