Why You Should Give Your Business Plan To Your Most Skeptical Friend

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The first step to launching a startup is creating a business plan. Whether it’s used to pitch investors or just as a roadmap, the best plans are flexible and have weighed all the inherent risks. They’re also conservative and passionate at the same time.

For advice on how to create a strong business plan, we spoke to Steve Wunker, a managing director at New Markets Advisors, a consulting firm with clients ranging from international giants like Siemens and Johnson & Johnson to recent start-ups. Below is a slightly edited version of our conversation:

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