Launching a startup begins with a business plan. However, entrepreneurs need to remember that any plan is only a framework for development, and in a turbulent market, the ability to adapt and improve is more vital than to pursue strict instructions.
Having a business plan makes a startup more likely to succeed, found out Francis J. Greene and Christian Hopp. According to their research, more than 30% of the small businesses do not survive the first 3 years of operations if they do not have a business plan.
Why do we need business plans?
The business plan is essential at…
