Quote from: Freddie Boyer on Today at 05:22:05 PM

I Think i like this point, where a well-crafted business plan is an essential tool for any entrepreneur. It provides a roadmap to help us navigate the complexities of starting or growing a business. A comprehensive business plan should include a market analysis that identifies the target market, competitors and potential barriers.

Beginner business people often make an analysis before starting a business that they will run, because things such as the target market, competitors, and potential obstacles are important things that must be looked at first so that progress can be made through the business. Because a business that survives and becomes big is a business that is able to compete more wisely with competitors who carry a concept almost similar to what we use.

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Financial projections are also important because they help us understand the cost and revenue stream of our business and our marketing strategy is another important component, because it outlines how we plan to promote and sell our products or services to more likely attract investors, secure financing and increase opportunities.

Apart from what you mentioned, I think collaboration with other businessmen engaged in different fields is also very much needed because when it can also help businesses develop better and not harm each other. Even though every businessman has to promote their products individually with their own concept, this can also help business owners expand their network to various regions.