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Small business owners say it is best to have a plan well in advance of making a big change like ceding a business to someone else. Mike Roach started Paloma Clothing in Portland, Oregon, as a co ...
Plan for succession. If you're planning to sell your business or retire, a financial planner can help you develop a business succession plan to ensure a smooth transition. Manage personal finances ...
In his presentation, Five Criteria For a Successful Business Plan in Biotech, Dr. Roger Bernier, uses Dilbert comic strips to remind people what not to do when researching and writing a business plan for a biotech start-up. [17] The "Gnomes" episode satirizes the business plans of the Dot-com era.
The Small Business Administration was created to aid small-business owners and serves as a resource for aspiring entrepreneurs. Some of the resources available through the SBA include the ...
Franchising is a way for small business owners to benefit from the economies of scale of the big corporation (franchiser). McDonald's and Subway are examples of a franchise. The small business owner can leverage a strong brand name and purchasing power of the larger company while keeping their own investment affordable.
A business plan focuses on the business goals and background information about the organization and key team members. It is commonly developed for a 3-5 year time frame and is useful when seeking external funding from either banks or investors. On the other hand, a growth plan is short term, typically 1–2 years or less.
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