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An idea or a particular skill won't necessarily guarantee a successful business. It is important to get the right guidance in the early days to help you remain focused on the key points and provide direction.
Thousands of new businesses fail in the first couple of years due to a lack of planning and trying to run too quickly. Various areas to be considered including ensuring legal documentation is in place, sourcing finance, protecting intellectual property, and these are just a few.
The preparation of a business plan with financial forecasts, key performance indicators and a strategy are key foundation documents that both impress potential lenders and help to drive your ambition forwards without getting distracted with too many other opportunities.
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