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Is it mandatory to need a business plan.
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[QUOTE="Kendy, post: 244173, member: 63869"] Ultimately, no! It is in noway mandatory to have a business plan, this is because you cannot force anyone who decides to make a decision otherwise. On a personal level, I cannot operate a business without having a plan. Even on a monthly basis, I have cultivated the habit of writing down my needs so that it would help me to stick with my budget. With a business plan, you would be able to track your record to ensure whether it is positive or negative and proffer solutions as well. During the covid-19 pandemic, those who has no business plan were left in a state of dilemma and those who has a business plan yet failed to input a backup plan in case of unforeseen situations were also left in a state of confusion. If a business plan is faulty, it is as good as not having one. A business plan is not the yardstick to decide your success or failure in a particular business venture and it is not mandatory but for me, it is very important. As humans, we might tend to forget some things but with the help of a business plan, it would keep some record which would be used as a reference point for an entrepreneur. [/QUOTE]
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Is it mandatory to need a business plan.
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