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Plan Ahead

A little preparation goes a long way.

Opinions expressed by Entrepreneur contributors are their own.

A business plan is a smart way to explore the feasibility of a new business before you actually start it. A good plan can help you spot flaws in your business concept: You may uncover tough competition or find that your financial projections simply aren't realistic. On the other hand, a business plan that doesn't predict failure can be a comfort and a motivator to proceed.