It is so widely acknowledged that a robust business plan is one of the key ingredients in small business success, it seems remarkable that anyone serious about their business could considerable it optional. However, a recent survey shows that two thirds of small business owners run their businesses on gut instinct alone. There are four common reasons why small businesses fail to plan. These are I am too busy to plan, traditional planning doesn’t work, my business is doing fine without detailed planning and planning is futile in a chaotic world. This article explores the idea that small business planning is essential, not just despite the four reasons for not planning discussed here but precisely because of these four reasons for not planning.
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