(Last Updated On: October 31, 2014)
Here’s a TREAT data point for you on this Friday. Did you know that companies and emerging entrepreneurs that spend time to write a business plan double the probability of getting external funding? That includes professionals with a corporate job that are entertaining the business viability of their idea (after all, your friends and family would have to support your exploration financially). Obviously, it’s a common sense to write a business plan.
Here’s a TRICK question for you: what percentage of companies actually spend time to write a business plan?TREAT answer: About 40%