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Do you really need a business plan to start a business?

Starting your own business can be both a daunting and an exciting experience—and it's not something you can easily do on the spur of the moment. You need to do some careful planning, research and preparation before setting your great business idea into motion. In your excitement to get started you may be tempted to skip the business plan stage, especially if you're not looking for funding from outside sources, writes Rieva Lesonsky. A business plan isn't just a tool for securing funding however; it's a guide to managing your business more effectively. Here, Lesonsky shares "five good reasons why every startup entrepreneur needs a business plan."

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