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With the collected data and information, it is now time to write a workable business plan. This is an essential step and is how you and others will evaluate your business. When seeking financing, the investors or lenders will want to read your plan before they supply you with funding. If you are financing the business yourself, you will still want to have a written plan to develop business and marketing strategies and financial projections. What does the new project mean for your company? Where are the risks, which are the opportunities you cannot afford to ignore?

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