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Milestones are
major events in your business that you intend to achieve by set dates.
Although it is impossible to anticipate an exact schedule when first
planning your business, creating a milestone plan will help provide
a clearer picture of the important steps involved in developing your
business or business project. In fact, you should avoid using exact
dates in milestone planning except when they are externally imposed,
such as a deadline for funding or a contract fulfillment date.
The types of
events that you will choose for your milestone plan will depend
on your business, but a good way of generating ideas is to work
backwards from your goals over a set period of time. If you are
planning to launch a product and have it ready to hit stores in
six months, then you would set a milestone plan for that period
including key events relevant to the launch, such as obtaining financing,
meetings suppliers, testing the product, completing a prototype
of the product, meeting with purchasers, arranging distribution,
marketing events, and so on.
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