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A formal business plan is necessary to show all interested parties -- employees, investors, partners and yourself -- that you are committed to building the business. To attract partners. Partners also want to see a business plan, in order to determine whether it is worth partnering with your business. read more.
They never worked with startups who needed to put together privateplacement memos for investors, capitalization tables and all of those things. All these lean businesses, all these wants who want to take as little time as they can to forecast these financials, we’ve talked about this a little bit on the podcast before.
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