Business Plan Doubles Success Rates

Imagine hearing that you could double your odds and not taking the advice that increases your winnings in a flash. Betting the odds is what makes the best poker players, they know the percentages and unless they can make their opponent believe they have beat the odds, they’ll play them. Here’s your face card.

For every successful business that was launched with a well-thought-out business plan, it seems you can find an equally successful one that was launched with nothing more than some scribbles on the back of a napkin. In fact, the contrarian approach may be the one you hear most about ??? i.e., entrepreneurs dismissing a business plan as something they wrote and then stuffed in the bottom of a drawer.

Palo Alto Software founder Tim Berry (a contributor … at Small Business Trends) recently reported on some new data showing the value of business plans.?? Palo Alto did a survey that asked thousands of its Business Plan Pro software users questions about their businesses, goals and business planning. The responses showed that those who completed business plans were nearly twice as likely to successfully grow their businesses or obtain capital as those who didn???t write a plan.

via Business Plan Doubles Chances for Success: New Survey.

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