I think that business planning is very important for a successive business. A reasonable amount or capital is backbone for a business but market awareness is also very important for a good business. A good location, where your customers have easy & frequent access to you, can enable a struggling business to strive well and thrive properly.
Source: http://www.imbforum.com/buy-sell-trade-anything/15845-business-plan-necessary-startup-business.html
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