This week you are going to begin to examine the business plan and understand why it is vital for starting a new business.

Part One: Please review the following resources. These resources are easy to review and will not require a significant investment of time to examine.

Five Reasons 8 Out Of 10 Businesses Fail By Eric T. Wagner, September 12, 2013 https://www.forbes.com/sites/ericwagner/2013/09/12/five-reasons-8-out-of-10-businesses-fail/#6095b70c6978Links to an external site.

5 Reasons Why Businesses Fail (Infographic) By Rose Leadem, July 1, 2017 https://www.entrepreneur.com/article/296491Links to an external site.

Why 96 Percent of Businesses Fail Within 10 Years By Bill Carmody, August 12, 2015 https://www.inc.com/bill-carmody/why-96-of-businesses-fail-within-10-years.htmlLinks to an external site.

Top 11 Reasons Startups Succeed By Tanya Prive, March 29, 2013 https://www.forbes.com/sites/tanyaprive/2013/03/29/top-11-reasons-startups-succeed/#72a1e1082ab7Links to an external site.

What Makes Small Businesses Successful? By Ty Kiisel, July 16, 2014 https://www.forbes.com/sites/tykiisel/2014/07/16/what-makes-small-businesses-successful/#49a45eda4e56Links to an external site.

Part Two: Please address the following in your discussion response this week:

Why do most small businesses succeed?

Why do most small businesses fail?

Why is an exit strategy important?

What is your initial business idea?