Why is having a business plan so important for a startup?

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A business plan is an important strategic tool that all startups must have in order to guide decisions that make the business succeed and grow.  The business plan serves as a roadmap to startups and includes all aspects of the business in terms of how it operates, as well as its short term and long term objectives.  The most important components of a business plan are operational strategy and implementation, market analysis, team management, and financial planning.

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