The first step for the entrepreneur in planning his or her business is to

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Engaging in self-analysis is the first step in planning a business. This involves assessing personal strengths, weaknesses, interests, and goals to determine the type of business that would be a good fit, as well as identifying any potential challenges or obstacles that may need to be addressed. Only then can the entrepreneur move on to developing an effective organizational plan and making other important decisions. Forecasting sales revenues, choosing a business location, and developing an organizational chart all come later in the process.

The First Step for the Entrepreneur in Planning His or Her