Does starting up a business require a business plan

[kayode10]

Business plan can be described as a new to-do list of what you want to do with your business both in terms of operation and marketing. Business plan shows what you want to do with your business in the nearest future and how you want to go it bigger.

 

[Lucy ID]

A business plan before starting off a business is very important and a good one, anyone that doesn't do this is bound or set to fail because this is very help you know how to go about that business

 

[eLdavis]

Business plan can be described as a new to-do list of what you want to do with your business both in terms of operation and marketing. Business plan shows what you want to do with your business in the nearest future and how you want to go it bigger.

From what you just explained, should a good business plan also contain plans on what to do with the profits? Or does business plan only have to do with the business start up and marketing.

 

[Kaffyfolla]

Before you start businesd by seeking legal advice, renting office space, or forming an LLC, you need to put your thoughts on paper. This will help you stay organized and focused

A typical business plan consists of the following elements:

• An executive summary
• A company description
• Market research
• Descriptions of products and/or services
• The management and operational structure
• Marketing and sales strategy
• Financials

 

[kayode10]

From what you just explained, should a good business plan also contain plans on what to do with the profits? Or does business plan only have to do with the business start up and marketing.

Business plan goes beyond startup and marketing of the products and services. Business plan also shows how you are going to return investors money and profit within short time. It also include planner on how to give back to the community by the company.

 

[kinqzbitz]

Of course it requires a business plan and one can not just waltz into the business world like that without any plans on how to go about it atleast you should learn before going into something new

 

[Syldan]

Every business requires a plan. because without planning the business will have no clear ideology, motives, vision and a goal to achieve. most especially the newly established businesses they required regular planning kn other to make it stand.

 

[YERUS]

I strongly believe before you start a business a business plan is required but do you think is compulsory

It does.
Every business owner must draft a business plan for his business.
It serves as a guide; keeps you in track too.
A business plan can also be required for loan or other purposes which are of benefit to the business.

 

[Skysaint]

It's actually important in every business not only just for startups because this is what kinda gives your business direction and what it's expected to have achieved after a said timeframe

 

[Ghost1]

I strongly believe before you start a business a business plan is required but do you think is compulsory

It's absolutely compulsory. Most business fails due to lack of plan some due to proper planning. One must make plans before he can succeed

 

[greenie]

I strongly believe before you start a business a business plan is required but do you think is compulsory

When I started a business, I always asked myself 1000 questions before ... what should I do, what would be the profit, how much work should I do, if I can afford an employee, etc. so for me yes, you need a well thought out plan ... you can't open what you want anytime, overnight.

 

[Alogakho Esson]

In life we plan everything either we plan to succeed or plant to fail, planning come with sound knowledge of what you are about to embark on

 

[Justin]

Everything requires a plan. But sometimes a random act will make your successful. My friend started selling on facebook. He did not have any plan, but be succeeded.

 

[Elfinito]

Every business that is bound to be successful must have a business plan. So if you wish to start a business and you want to be successful, first you must have a plan which you would held you know what to do and who is your target
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Every bussiness needs a business plan so to make your business successful you need to mske s good research and have a good business plan
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Every bussiness needs a business plan so to make your business successful you need to mske s good research and have a good business plan

 

[Good-Person]

Yes, business plan is definitely necessary. I do not have any business but even I conduct my own small plans before carrying out trades over the internet. Planning is always crucial in matters related to money.

 

[Ononivami1]

If you don't have a plan to follow , the business would be managed with no direction and it could lead to the end of such business . It is very imperative to have a good business plan on ground.

 

[Shigobad20201]

If you want to be a successful business entrepreneur, before you can start a business , you must have a good business plan drawn and perfected everything you want to do in your business

 

[Setho]

It is going to be a very good thing if you tried out your business plan before starting the business but then nobody is going to hold you to run some if you do not. The most important thing about this is that you should be able to know your mission and vision statement and how you can be able to convince investors.

 

[Syldan]

Before starting any business it's expected of you to have a business plan, set rules, strategies to which the business is supposed to be built upon because it will helped you to not to deviate from the set agenda.

 

[Setho]

A business plan is definitely a very good thing to start and something that you should do almost at the beginning of your business. The advantage is that it is going to help you to set realistic goals for your business and it is going to give you an upper hand whenever it comes to fundraising.