You Don't Need This Book - Entrepreneurship in the Connected Era by Ben McDougal

Author:Ben McDougal
Language: eng
Format: epub
Tags: Business & Personal Finance
Published: 2021-03-11T00:00:00+00:00

Creating a detailed business plan is never a waste of time, but it’s okay to wait until you’re asked for one. A few common situations where you’ll need a business plan includes government grants, traditional bank loans, equity financing, and pitch competitions. Entrepreneurial support organizations (ESOs) may request a business plan to activate their services as well.

As you build a business plan, think ahead. Mark areas that may need to be frequently updated. This makes the document easier to maintain. Financials connected to your business plan are the most complicated to keep updated. Accounting is hard to begin with. It gets harder if you don’t force yourself to track expenses early on. Financial tracking is tedious and may be less fun, but numbers can haunt the lackadaisical.

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