Is the backup plan just as important as the original business plan?

[adazeez1995]

Of course, a plan B is very necessary. I would like to add this.
Divide your capital into two or three groups and use the first group to start off. If anything happens in the future, it means that you would still have some savings left which you could use to reinvest, or settle debts.

 

[Muhammadawais]

A successful backup plan guarantees that the data can be accessed professionally from an off-site venue and from cloud-based applications.Finally, misfortunes are bound to occur in the life cycle of the company, and you need an actionable back Up plan strategy to ensure the safety of your business.

 

[Asad Ali]

The Contingency Plan is the true plan for avoiding failure and deceit. Most people typically have initial plans but only the smart ones have a contingency plan. If your original plan is good or good, you will never be able to say that any natural event will destabilize the plan is necessary for a second plan. The contingency plan is often referred to as second plan.

 

[Cissé]

It is a good idea to have back up plan when setting up a business plan in order to avoid failure and to tackle it. When ther is a back up plan it will be easy to account for your business and meet up to your customer requirements.

 

[idhans]

When you have any business idea it is important that you consider and plan for the worst case scenario as well because there's always going to be factors that you cannot account for and therefore you have to be quick I'm thinking on your feet for having a contingency. For many business proposals that is not going to be smooth sailing and you will not get exactly what you have planned for. Sometimes it could be minor changes that need to be made to the business plan and other times it could be drastic changes that could greatly impact the way the business is being run.

It is for this reason that it is very important that every business plan have a backup plan as well in order to ensure that there is a contingency should things go wrong or should things be unpredictable. In my opinion the back-up plan that you have for your business is almost as important as the original business plan because it is your safety net and therefore it is important to have a good safety net to provide you with peace of mind and ensure that you are able to create a successful business.

Do you believe that a back-up plan is necessary or do you think that it is important to just stick to one idea and to plan that out there early and hope for the best?

So many businesses fail because the owners of the business didn't anticipate future happenings, and future events that may lead to the breakdown of that business, not to talk of having a back-up plan in case of future occurrences. In my own opinion back-up plan must always be more effective than even your original plan.

 

[mubinadaddy]

Back up plan is very vital cause any details business plan without a backup plan is a failed plan. Cause backup plan will give you a key theme of what needed to be done for the success of the company to occur if once experience failures.

 

[Ayoknl]

Back up plan is as important as the main business plan as this makes up for the unforseen circumstances (uncertainty) and risk. The second best business idea is just as important economically.

 

[Marissa]

A back up arrangement is similarly just about as significant as business plan since we initially made a back up arrangement on the off chance that the first business plan isn't working , so we move and chose to utilize a back up arrangement, a back up arrangement is an arrangement B utilized on the off chance that the first arrangement don't work.

 

[Mostee501]

The main business plan is important as well as the backup business plans. Normally having a backup plan is very important in a business,should incase your initial business plan fails,you have an alternative option to fall back on.
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The main business plan is important as well as the backup business plans. Normally having a backup plan is very important in a business,should incase your initial business plan fails,you have an alternative option to fall back on.

 

[unhappy triad]

I won't say they really are equal in weight. If they weighed the same they would have been the initial plan not a backup. It only comes to play if the best plan doesn't pull through. This in no way undermines it's importance

 

[Yan]

Ah, if you're planning without a contingency then you are one step closer to failure because there is no certainty that any of your plans will workout, its an issue of probability, with one plan you might have a 45% chance of success, with a second plan it can increase to 70% chance of success, so I'll like to advise that you should always have a fall back plan so as to not fail totally.

 

[Gidoskî]

Both are important as the other.But much strength should be exerted on the original biz plan.If carried out well won't be a situation where there is a call for back up plan.The back up plan in the other helps and needs to be kept in mind before venturing into anything.Its more like not having all your eggs in one basket

 

[Killjoysrevenge]

I think backup plan is much better because, the original plan will not fail if it is better, using backup plan is a smarter way to do specially on a failing business.

 

[Damismiling]

Yes back up is Just as important as the original plan, you see in anything you are venturing into you must have alternative plans where you can be able to navigate Incase of any problem with the original plan, that is risk management

 

[Prettyjanie]

Well, backup plan is not as important as the original plan. In a business, no one plans to fail however, it is good to have a backup plan so that in the event the original plan fails, you can work with the back-up plan. So back up plan is equally important.

 

[Sohnny Jins]

If the owner of a business believes that his orginal plan will still work on his fsiling business, i guess its not necessary to have a backup plan.

 

[FreshKaz11]

When you have any business idea it is important that you consider and plan for the worst case scenario as well because there's always going to be factors that you cannot account for and therefore you have to be quick I'm thinking on your feet for having a contingency. For many business proposals that is not going to be smooth sailing and you will not get exactly what you have planned for. Sometimes it could be minor changes that need to be made to the business plan and other times it could be drastic changes that could greatly impact the way the business is being run.

It is for this reason that it is very important that every business plan have a backup plan as well in order to ensure that there is a contingency should things go wrong or should things be unpredictable. In my opinion the back-up plan that you have for your business is almost as important as the original business plan because it is your safety net and therefore it is important to have a good safety net to provide you with peace of mind and ensure that you are able to create a successful business.

Do you believe that a back-up plan is necessary or do you think that it is important to just stick to one idea and to plan that out there early and hope for the best?

When going into a business you must always have it at the back of your mind to have a backup plan for the business,because it might not work out well as you think,so with the backup you won't have a problem if it seems not to work in your own favor. So having a backup is a good idea plan before starting a business.

 

[Sariana23]

I believe that both business plans are equally important, both the main and the emergency. As you clearly explain in your thread, many times we trust that things will go very well and there is no adequate preparation for emergencies or unforeseen events, and that is when many failures occur and businesses disappear.

 

[shalom]

Having a second plan is very much as important in having a first plan. Generally we believe second plans are backup plans and in fact its not wrong to have more than more one backup plan you know.

 

[zahidhussain]

Refusing the backup plan is a key theme of many successful entrepreneurs and other heroes. ... back-up plan, which is really just the plan they wish you'd go with in the first place, right?

Backup plan is always necessary like the original plan because if you have failed in original plan then you can process the second plan to recover their buisness and became it profitable and success able so second plan is your idealism