Is business plan important even if you are experienced?

[Yan]

It is only imperative for you to imagine that experienced business persons always have a very solid business plan. I think they go hand in hand. It is just like in football, you can't tell me an experienced striker does not know how to score one on ones. So basically a business plan is part of the experience gained buy a business person after exposure to so many years of business activities.

 

[Blessingedidiong]

An experienced entrepreneur will know the importance of having a business plan. A business plan is a guide to the business. Everything in life needs planning so starting a new business without a business plan because you are experienced could go really bad.

 

[Oliver 20]

each business needs a business plan even with experience and it's a good thought. A Bussiness plan can surely help you consider all you require and where your business is going. Yet, in the event that you needn't bother with a business advance, you most likely don't have to invest the energy making a proper marketable strategy.

 

[Odebunmi ajewamiri]

For any business to succeed their must be a plan for it even if you want to run a small scale business and you don't have a good planning I don't think that business could last for long, your business plan is as important as the capital you need for the smooth running of your business.

 

[Usman Sattar]

Why do you want a business plan? You already know the obvious reasons, but there are so many other good reasons to create a business plan that many business owners don't know about. So, just for a change, let's take a look at the less obvious reasons first and finish with the ones you probably already know about. Think of this as a late-show top 10, with us building up to the most important reasons you need a business plan.

 

[Judee201]

One thing I find common among entrepreneurs in Africa is that we hardly write our business plans before starting a business. We are only compelled to write a business plan only when we are seeking for business loans from a bank or any other financial institution as it is usually one of the requirements. We often see business plan as only a business fund sourcing tool.
Some who draft out business plan when they are starting their business, do not go back to the business plan periodically to review it. The business plans are dumped immediately they get their start-up funds or once the business is in operation.

 

[Funufidelis]

As any experienced businessperson will tell you, the business you decide not to start because a financial projection doesn't pencil out can be more important to your long-term success than the one you bet your economic future on.
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As any experienced businessperson will tell you, the business you decide not to start because a financial projection doesn't pencil out can be more important to your long-term success than the one you bet your economic future on.

 

[manikk786]

Of course, planning is a very important thing to start any business, no business can run without a plan. If a man has a lot of experience of any business but have no planing can't get anything.

 

[kayode10]

Business plan helps to define the future of your business. it helps you to define all your business will look like in the next 5 years, 10 years and more. a business plan is an important documents which should be banned of the things you said that whenever you need a name for your business. if you can't write it yourself it is good to hire an expert who can help you to craft it out to make it concrete.

 

[Adeyoola7]

A business plan is a very important and strategic tool for entrepreneurs. A good business plan not only helps entrepreneurs focus on the specific steps necessary for them to make business ideas succeed, but it also helps them to achieve short-term and long-term objectives

 

[Ridorz]

Business plan is very important and it's a necessary things that must be done by Business owner either you are a experience business man/woman or not. There is no how a business can be survive without a proper plan because plan is a guideline to be running a business.

 

[Adventurer]

Best entrepreneurs always have a plan. It might not be long, and it might not be detailed, but they always have a plan.

Successful entrepreneurs use all their experience, that’s 10,000 hours, to develop their strategy and plan. They know what to do base on experience.

Is business plan that important?

The importance of a business plan can not be over emphasized and it's got nothing to do with your experience.
A business plan shows the direction you want your business to follow, the goals you want to achieve and when you want to achieve them.
You've got to put those down!

 

[Prettyjanie]

No matter how experienced you are, or well known you are about a business, it is very important that you have a business plan before you go into such a business. Having a business plan makes you go according to the plan because when you do not have a business plan, you may go outside the budget or what you're meant to do.

 

[Nemezy]

I still believe regardless of experience it is still important to Have a business plan, as a person you might have multiple ideas at a time and you might lose count of them, sometimes you might even dmvet them missed up, having a business gives you the opportunity to revisit or review when necessary.

It is very important and necessary for one to plan his or business, a house without rule can not stand , if you fail to plan you fail , no building was raised in a day . One needs proper plan and analysis to start of his business.

 

[tuna89]

The business plan is very important in every business, be it owned by a professional ,experienced or not because the business plan outlines the market surveys of the products or services you wish to offer, the location , the department, the employee pattern and the budget, also includes the projected profits for a range of time and much more and this must be followed strictly for the growth of the organisation.

 

[maventiger]

The importance of a business plan can not be over emphasized and it's got nothing to do with your experience.
A business plan shows the direction you want your business to follow, the goals you want to achieve and when you want to achieve them.
You've got to put those down!

I agree with you completely. The business plan clearly shows the goals the management want to achieve and the duration. The business plan is a blue print that serves as guide to the manager when in doubt of the company's expectations from him and the target given.

 

[Kehinde]

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.
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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.
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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.

 

[Seun4luv]

To help you with critical decisions. While business plan have many purposes, the primary importance of a business plan is that they help business owners make better decisions. Entrepreneurship is often an endless exercise in decision making and crisis management.

 

[sam386150]

As a human being we grow and learn everyday, there's nothing wrong with having a multiple ideas, despite the experience you have in business,
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As a human being we grow and learn everyday, there's nothing wrong with having a multiple ideas, despite the experience you have in business, so it is very important before you open a business you must seek for a business idea.

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As a human being we grow and learn everyday, there's nothing wrong with having a multiple ideas, despite the experience you have in business, so it is very important before you open a business you must seek for a business idea.

 

[Abiodun omolayo]

I think your experiences should tell you that business plans is needful to the business, even if you are experienced you still need to plan ahead on the business you are about to venture into again, it help you identify risks ahead of time