Business Plan - is it necessary?

[Aniwhyte]

Yes, business plan is very necessary for all business in other for your business to to be successful you would be needing a business plan one can't just wake up one morning and decide to start up a business without a business plan, such business might not be successful. So business plan is very necessary.

 

[Matty]

The purpose of a business plan is to help articulate a strategy for starting your business. It also provides insight on steps to be taken, resources required for achieving your business goals and a timeline of anticipated results. ... The objectives should indicate how they'll help your business prosper and grow.
So it is very necessary to have a business plan.

 

[Cee C Chriss]

Business plan is a mandatory step to take into consideration in any business establishment. Without plan, there's no lead nor ideas. These plans most go in accordance with best business strategies to accomplish each task.

 

[Aniwhyte]

Whether you're starting a small business or exploring ways to expand an existing one, a business plan is an important tool to help guide your decisions. Think of it as a roadmap to success, providing greater clarity on all aspects of your business, from marketing and finance to operations and product/service details.

You're very right about this, business plan is necessary. A startup business plan serves several purposes. It can help convince investors or lenders to finance your business. It can persuade partners or key employees to join your company. Most importantly, it serves as a roadmap guiding the launch and growth of your new business.

 

[Ibrahim1]

As for me business plane is really needed in any business because without business plane nothing you can do about business and if you don't have business plane and embark on the jorney of your business believe me it won't last long before everything crushed and back to square one

 

[kayode10]

Business plan is very important if you're planning to build a business that will stand as a legacy for generations to come. Business plan will help you to plan from the present to the future. Business plans makes it easy to work on your business and easily chat this course for it. Business plan can help you too design how your company can run on autopilot without you being present at the company.

 

[cmoneyspinner]

There is a wise saying that goes: “Nobody builds a house unless he first counts the cost.” So my answer to your question is Yes! A business plan is necessary. For one thing, if you try to approach a financial institution for funds in order to start your business, they won't even look at you. They want to know your plans. However, if you have your own money and want to give it a try without writing a formal business plan and just keepin it in your head … give it a shot! As you say, some people have been successful.

 

[Chibson]

How can one start a business without proper planning and strategy?. Such businesses cannot succeed in the long run because every business requires a strategic method. Any business that is not properly planned and mapped out strategically is bound to fail. So it is very important to have a business plan.

 

[Seyesystem]

In every business, business plan is very important because you have to operate the business in accordance with plan.owner that fail to plan his business very well will surely fail. Before going into any business you must do your through findings which includes feasibility studies about the business whether it's viable or not, also the profit projection for at least 3 years must be done. This will enable the entrepreneur to make his decision whether to start the business or not.

 

[Psalmsavatar]

In my conscience, a business plan is a very important aspect of business. No matter what one wants to venture into, every aspect of business needs planning. Remember, proper preparation and proper planning prevents poor performance. Whenever you plan your business very well, the output must be the result that you are prepared for. And any business that has no plan, I mean if a business has no plan, it will collapse or no plan.

 

[Lloyd]

Business plan is definitely important if you have a business. This is your guide on achieving your ultimate goals in business. In this way you can show to your investor, if you need any, how sincere you are in doing this business. Without planning in everything you do, not just in business, might result into failure.

 

[Thosynho]

A lot of people start their business without following the bookish instructions. And some of the time they are successful with it. You can see that people need to make use of the business plan. And some of the time following that approach helps them stay focused. And they can improve their business by finding out what went wrong with it.

Do you think business plan is necessary?

There is this adage that goes thus, he who failed to plan, plan to fail. The same goes for starting business. No one jumps into business with little or no knowledge in that business and thrive. You need a detailed business plan to succeed.

 

[Damismiling]

Yes Business plan is necessary for the growth of your business. With Business plan, you will be able to know how to structure your business and what your business needs whenever it gets to a certain stage

You are very correct, it is very needful to have a business plan, it is a blue print of how the business will run and should run and it help to forsee predictable likely occurrence, and giving a mind of readiness for the task ahead of the business

 

[ahmedo24]

If there is no business plan there may hardly be a proper record for the business which is sign of collapse, it is very important to have business plan because it guides you on how to achieve your aim and objective in the business.

 

[eenya001]

So many people are of the opinion that you need business plan to actually succeed in your new startup, and they are right, but the reality on ground is that you could succeed without a business plan and you could also fail even having a business plan

 

[Adventurer]

A lot of people start their business without following the bookish instructions. And some of the time they are successful with it. You can see that people need to make use of the business plan. And some of the time following that approach helps them stay focused. And they can improve their business by finding out what went wrong with it.

Do you think business plan is necessary?

A lot of people start their business without following the bookish instructions. And some of the time they are successful with it. You can see that people need to make use of the business plan. And some of the time following that approach helps them stay focused. And they can improve their business by finding out what went wrong with it.

Do you think business plan is necessary?

Highly necessary, there is a saying ; failure to plan is planning to fail, a business plan gives a forecast of how your business is going to be, the goals of the business, and how to achieve these goals, if for any reason things are not working out fine, you go to the business plan to analyse the situation.

 

[Folaham]

A business plan can be a simple outline. It is a roadmap that steers you in the right direction.
With good business plan, you can get outside funding from lenders or investors because the plan makes it easier for lender/investors to see the potentials in expected growth of the intended company.
Business plan will also allow you to gain understanding of the market because it gives you opportunity to look into the industry, target market and competitors and as such you can see trends that could make or mar your business.
Good business plan also helps you to pinpoint the best strategies for your business

 

[Setfragil]

it is good to have business plan business without plan the business it is likely to fail. Business plans help the business to focus and to determine how to plan his day-to-day activities and manage is limited resources in order to achieve the goal of the business.

 

[chicnthin]

It is important for an entity to have a business plan, especially at the begining process of starting a business. It is where you describe the business and what following actions or strategies to be implemented, he budget, target market and etc.

 

[Bart Simpson]

Definitely yes,
A business plan is essential to help you focus and not deviate too far from the plan. This way, it helps you achieve your short and long-term objectives. Some people are lucky to succeed without one but I'm the methodical type, so, I much prefer to have a business plan.