Black MBA - Winter 2007/2008 - (Page 96) ENTREPRENEURSHIP How to.. Create a Business Plan The Business Plan – Where Vision Meets the Nuts and Bolts of Success By Nathaniel Sheppard Jr. EACH YEAR, thousands of businesses succeed, fail or tread water, depending on the strength or weakness of entrepreneurs’ business planning. Entrepreneurs most likely to succeed are those who map their way across the minefield of commerce and industry with a written business plan – an indispensable key to the marketplace and essential tool for starting and running an enterprise. As important as a business plan is, it’s a challenge to create an effective one that retains its usefulness for years to come. Even the best-laid plans can be upended by Murphy’s Law. How can you, an entrepreneur, put together an industrial-strength business plan that gives your venture a fighting chance? There certainly is no shortage of government and private agencies that of- 96 BlackMBA • Winter 2007/2008 • www.nbmbaa.org http://www.nbmbaa.org
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