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This article is very important. We find that too often business owners do not conduct research before they launch their business. This can be a key hindrance when trying to reach various publics.
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Since your project vniolves research in family businesses, you can proceed in the following manner.Once you have put the obvious question, there can be the following answersa) No plan as such, we went ahead as and went opportunity aroseb) Planned, but it was in our minds (not documented)c) Had sketched down some aspects, but not completed) Had a well documented business plan.Option a)Such plans have a high probability of failure, and if they worked, it was because of luck or instant cover ups. Highly risky and not recommended.Option b)These are dependent on the person who is the key factor for the business. In his absence, the system goes haywire.Option c)Lots of confusion, since the plan is sketchy, and clarifications are required at every stageOption d)The most recommended technique, easier to find investors, and things can work even though the planner is not available.
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