12 PACIFIC BUSINESS PARTNERS DECEMBER 2023

A business plan is a statement of what the business is , how it operates , how it is managed , how it interacts in the marketplace , how it functions financially , and what its strengths and weaknesses are . Through financial and operational projections , the plan describes where the business is going and what is needed for it to get there safely . The business plan is a planning tool that details the goals of the business and gives the owner a path to follow . It can help the owner make judgments and decisions by encouraging consideration of all the important areas of business operation . In addition , a business plan is almost always required by lenders considering a business loan request . Lack of planning is often the cause of serious business problems or outright failure . Poor management and planning are estimated to account for over 90 % of business failures . The most common mistakes made are poor initial planning , not understanding market position , not knowing costs , not properly pricing , not planning cash flow in advance , not monitoring financial position at all times , not controlling costs , and not planning and managing growth .

Writing a business plan can help entrepreneurs think through their business strategies , balance their enthusiasm with facts , and recognize their limitations . It will help you avoid potentially disastrous errors like undercapital-

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personal information or login credentials . Verify the legitimacy of the sender or source before clicking on any links .

Implement Two-Factor Authentication ( 2FA ):

Enable 2FA for your accounts and apps whenever possible . This adds an extra layer of security by requiring a one-time code in addition to your password .

izing , creating negative cash flow , hiring the wrong people , selecting the wrong location , underestimating your competition , and pursuing the wrong market .

The business plan is also your :

• Your business ’ s resume , which will be vital in dealing with lenders and outside investors , and an important tool in negotiating with vendors and attracting employees .

• A timetable for operations , helping you to coordinate all the different activities that go into running your own business .

Stay Informed and Educated :

Staying informed about the latest cyber threats and security best practices is key to maintaining mobile device security . Consider attending workshops , seminars , or online courses focused on cybersecurity , such as the Cyber Security course offered by the SBDC .

Be Cautious with Text Messages :

Avoid opening text messages or multimedia messages from unknown senders or clicking on links within

A modeling tool that helps you evaluate the changes that affect your business , so you can better prepare to deal with situations that may arise as conditions change .

See : https :// www . pacificsbdc . com / resources / starttools / business-plan-guide for more information on the Business Plan Guide and Template .

See : https :// www . pacificsbdc . com / resources / starttools / financial-templates for Financial Templates .

Source : Business Plan Outline Guide , PISBDCN , www . pacificsbdc . com

them .

Mobile device security doesn ’ t have to be complicated . By following these simple steps , you can significantly reduce the risk of falling victim to cyber attacks .

Stay proactive and adapt to the changing landscape of mobile security . Cyber criminals are also constantly developing new methods to exploit vulnerabilities and gain access to your personal information .

1 https :// www . the-sun . com / tech / 8271901 / fbi-public-wifi-warning-common-mistake /