20 Business planning secrets

In order to start your own business it's no doubt you have to be equal parts brave, passionate and smart. And given how challenging the process can be, it pays to be a little crazy as well.

The latest research shows the number of self-employed owners of home-based businesses has risen sharply during the downturn. On top of this, the economic recovery will tempt many people to leave their jobs and strike out for themselves. Given the economic climate it's never been more important to have your business plan in order before you embark on your own venture.

Of course, it's not just start-ups that need strong business plans. Finding investors, managing cashflow, building credibility and establishing a great team are just some of the issues facing entrepreneurs regardless of what stage their business is at.

We've complied 20 of the best business planning secrets from successful entrepreneurs and business experts. You'll find out about everything from setting sales targets and planning for growth to organising an annual planning day and the importance of having a "Plan B".

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