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Chapter 3: The Role Your Business Plan Plays - Pg. 47

Chapter 3 The Role Your Business Plan Plays Entrepreneurs and owners of businesses at all stages of growth know that ef- fective business planning is critical to a company's long-term success and its ability to raise capital. As a result, much has been written by bankers, account- ants, consultants, and academicians on the preparation of a business plan. Yet it seems that the more information there is, the more confused people get about what a business plan should include. There's no one "right answer." A busi- ness plan should tell a compelling story, make an argument, and conservatively predict the future, and companies have different stories to tell, different argu- ments to make, and different futures to predict. It has been said that failing to plan is planning to fail. Opportunity clearly favors the prepared mind. 47 American Management Association