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The benefits and limitations of business plans
What are the advantages of having a well-developed business plan?
Having a well-developed business plan provides several advantages, including helping secure funding from investors or lenders, guiding decision-making, minimizing risks, attracting partners or stakeholders, and providing a roadmap for growth and success.
What are the potential limitations or challenges of creating and implementing a business plan?
Potential limitations or challenges of creating and implementing a business plan include changing market conditions, unforeseen obstacles, inaccurate assumptions, lack of flexibility, and the need for regular updates and revisions.
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