![]() ![]() ![]() Generally, the six functional areas of business management involve strategy, marketing, finance, human resources, technology and equipment, and operations. However, since about 80% of businesses fail within five years, largely because they were not planned and managed well, pre-planning greatly enhances the chance of success. Many new business operators caught up in the euphoric atmosphere of creating their own business avoid such essential pre-planning because it's not as exciting as devising a product or selling a service. A plan forces the person starting a business to examine and understand all aspects of organizing and running it, so is an important management tool. It's also a guide to how the business will be shaped and managed. This plan is not, as many believe, merely a document prepared for lenders and other investors. When starting a business, you must have a business plan. Growth & Transition Capital financing solutions ![]() Kauffman Fellows Program Partial Scholarship Venture Capital Catalyst Initiative (VCCI) Industrial, Clean and Energy Technology (ICE) Venture Fund ![]()
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