Leadership

4 Reasons Why A Business Plan Is Important

A business plan is a very important strategic tool for entrepreneurs. A good business plan not only helps entrepreneurs to focus on the specific steps necessary for their to make business ideas succeed, but it also helps them to achieve both their short-term and long-term objectives.

If you fail to plan, you are planning to fail! ― Benjamin Franklin

Venture capitalist and Silicon Valley pioneer Eugene Kleiner once stated that ‘writing a business plan forces you into disciplined thinking.’ An idea may sound great, but when you put down all the details and numbers, it may fall apart.

So why is the business plan so important?

Read on the : 4 Reasons Why A Business Plan Is Important.

I had originally  posted this article on iAfrikan.com

 

Forbes Just Revised Estimated Net Worth Of Theranos Founder Elizabeth Holmes And She Is Worth ‘Zero’

Last year, 2015, Theranos CEO Elizabeth Holmes, was named in FORBES list of America’s Richest Self-Made Women with a net worth of $4.5 billion. Today, Forbes decided to lower their estimates and cut that figure to a whole zero!

If you’ve been following the news, you might recall that Theranos, the blood-testing startup that has been valued at $9 billion, has constantly been under fire. There were numerous reports about issues relating to the company’s valuation, fraud, compliance , misleading patients and putting people’s lives in jeopardy, etc.

From the reports, we learnt about the company’s technology devices which often failed accuracy requirements. There were also  federal prosecutors investigations about whether company purposely misled investors about the state of its technology and operations. The situation was heating up until the federal health regulators proposed banning Theranos Inc. In a recent report, we also learnt  that there was serious fraud going on too,by use of fake technology!

Here is why Forbes decided to lower its estimate of Theranos CEO Elizabeth Holmes’ net worth from $4.5 billion to zero