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A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals.

Management by objectives (MBO) is a process of agreeing upon objectives (as can be detailed within business plans) within an organization so that management and employees agree to the objectives and understand what they are in the organization.

Finally, a business plan should be error - free. This is important because your business plan defines who you are as a business person. If it turned out sloppy, then that does not speak too highly of you.

Starting a woodworking business can be a highly profitable enterprise with a lot of flexibility however it is important that you plan it carefully. Having a woodworking business plan will allow you to borrow funds from investors or the bank in order to get you started. In this guide you will learn what you need to have in your woodworking business plan.

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