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Piett and Wright Las Vegas Attorneys at Law
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509 South 7th Street Las Vegas, NV 89101 Phone: 1-702-566-1212 Fax: 1-702-566-4833 Toll Free: 866-373-0012 E-mail: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it |
| Business & Marketing Plan Development |
| According to the National Business Association1 , 78% of new businesses fail for lack of a well-developed business plan.[1] Many new business owners scoff at the idea of taking the time to research and write a business plan, preferring instead to “wing it.” However, the importance of a business plan cannot be overestimated. A carefully assembled business plan is an invaluable tool to present to lenders, potential investors, partners, and even employees to inspire confidence in your project and communicate your vision in a tangible form. In fact, most lenders require a business plan before offering loans, particularly to startup businesses. Moreover, the process of researching and writing a business plan forces the business owner to view the business with an objective, critical eye. The owner must analyze the business’s strengths and weaknesses and potential threats in the marketplace and create contingency plans for dealing with economic uncertainty and downturns. A business owner with a well thought-out business plan will enter the marketplace armed with the knowledge that changes will occur and the ability to adapt to those changes in order to keep the business afloat during the very precarious first five years. (Citation: 1 www.nationalbusiness.org ) |