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Starting a Business

3 Reasons Why You Need a Business Plan

min read
Opinions expressed by Entrepreneur contributors are their own.

Operating as lean startup has its advantanges. Instead of planning too much, you can build a prototype, test it out and make changes as you go. But in order to deal with the challenges of growing, you're going to still need a business plan. Here are three reasons why:

  • It helps you figure out how much money you need.
  • It helps you keep your mission in focus.
  • It helps you size up the competition.

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