Understanding the Business Planning and Strategy Tool

Entrepreneurs should have an in-depth understanding of what a business plan is and what it is not.

A Business Plan is not a contract, an agreement, or a budget. Instead, it is a narrative description of a new business.

A business plan is the best insurance against launching a business destined to fail or mismanaging a potentially successful company.
Although building a plan does not guarantee success, it does increase your chances of succeeding in business.