Is Your Business Plan Missing This Vital Ingredient?

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As many as half of startups are no longer in business just four short years later, according to some statistics. Most businesses are owned by entrepreneurs who are driven, passionate and ambitious. So, how is it possible that so many fail?

Having built several businesses over the past 20 years, I have come to believe that the rampant failure of businesses comes down to the one tool that is supposed to help businesses thrive — the business plan. Most modern-day business plans are flawed, however, missing the one key ingredient. A business plan without this ingredient is like a batch of fresh baked chocolate chip cookies without the sugar.

So listen up, entrepreneurs, adding this to your business plan may mean the difference between success and failure. What is it?

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