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From Vision to Exit: The Entrepreneur's Guide to Building and Selling a Business by Guy Rigby

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CHAPTER 4. Business Planning

“Business, more than any occupation, is a continual dealing with the future; it is a continual calculation, an instinctive exercise in foresight.”

— Henry R. Luce

Foresight, not oversight

There’s nothing quite like a plan, and every business has one. Whether it’s in the mind of the entrepreneur, a hastily written to-do list or a more traditional document, it’s the plan that dictates what happens in a business everyday.

For a start-up entrepreneur, with no need for funding, one might be tempted to think that writing a formal plan is a waste of time, an unwelcome diversion of energy that could better be directed at, well, just doing it! You might be right. In certain cases, the idea is so crystal clear, the ...

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