What Bothers Me
Well what bothers me is that so many banks, investors, and development loan organizations focus on the business plan almost exclusively. A business plan is a must especially at the start up stage or any other stage in a business for that matter.
However businesses often fail because they took on too much debt, they became overwhelmed by taxes, they got introuble with their commercial landlord, they personally guranteed all their business debt.
Businesses often run out of money in the start up stage and fail because they could not market their way into success.
Many organizations lend on the business plan alone. I don't agree with this. People need to be taught some business basics before they run a business.
If I am given keys to a race car and I go on a track without any experience no written plan is going to keep me alive. I need hands on training with pros or I am certain to crash.
Lenders need to train if they want to get a return on their investment.
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