The value of writing a business plan is often debated in the entrepreneurial community.

While I am not a big fan of surveys, this one is pretty straight forward, and I like the results. Palo Alto Software asked thousands of users a couple of dozen questions about their businesses, goals, type of business, years in existence, and business planning. Almost 3,000 people responded.

Simply put, those who finished their business plans were about twice as likely to successfully grow their business, get investment, or land a loan than those who did not.

 

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