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The Business Plan . . . MIA (missing in action)

The Business Plan . . . MIA (missing in action)

The business plan provides a kind of map or battle plan for the marketplace. It also validates a company, proving that it has a reason to exist. That’s a scary thought which might help explain why so many organizations operate without one.

Not long ago a textile manufacturer ceased operations for that very reason. For years it struggled in the tough upper niche market that required high fashion, small runs and quick turnaround with rather antiquated machines requiring a full 12 hours for a changeover. Competitors with newer, faster machines could come into the market and gain an instant advantage. In the end, the company could not afford the new technology nor could it change markets, so it perished.