Shrink is the unexplained losses in inventory. Surprisingly, close to 90% of shrink are associated to theft from employees, vendors and/or customers. By decreasing shrink, business can become more profitable. There are methods to reduce the headache and bring the losses to a minimum.
A business plan is meant to provide a road map for the owner in how to better navigate. It illustrates how a business is and how should be in the coming years.
The main aspiration of a business plan is to display the feasible short term, intermediate and long-term objectives. Any future shareholders or those showing potential interest in the company will be able to review the blueprints of the plans that highlight the strengths and possible issues that needs to be addressed and ways in how to overcome them.