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

[Jlife]

Well , you are entitled to your own opinion . You must not follow mine , so if you feel you do not have any plan for a second back up plan , then follow your heart.

Ok so if you have a business to start and you have like 50 million to start up the business, after proper planning and calculation the business will cost the sum of 50 million naira and you will still need more to cover some extra expenses ,how are you going to make arrangement for the second backup business ?

 

[Josemendez]

Ok so if you have a business to start and you have like 50 million to start up the business, after proper planning and calculation the business will cost the sum of 50 million naira and you will still need more to cover some extra expenses ,how are you going to make arrangement for the second backup business ?

Seems you don't still understand what backup plan means . Let's say you have budgeted to buy 12 machines for your industry and something came up and the machines won't be available till next one week. The backup plans then comes up that you will use manual Labourers pending when the machine arrives . Now , assuming the machine arrived , the backup plan won't be used. This is why it is called back up plan

 

[Jlife]

Seems you don't still understand what backup plan means . Let's say you have budgeted to buy 12 machines for your industry and something came up and the machines won't be available till next one week. The backup plans then comes up that you will use manual Labourers pending when the machine arrives . Now , assuming the machine arrived , the backup plan won't be used. This is why it is called back up plan

Wow, perfect explanation, sorry about replying you so ignorantly, obviously I was thinking that a backup plan in business is the arrangement you make to start another business incase the current one collapse. Thanks so much for is explanation

 

[GIFTMICHAEL]

The essence of back up plans, serving as a makeshift to the original plan. When pur business isn't working with the original plan, we can divert it to another plan to get it working again.

 

[Justin]

If you do not have a backup plan, and if your business fails, you will go bankrupt unless you have a backup plan and you are able to bailout your business.

 

[Ralphjoe]

It is not as important as the original business plan but it is extremely important, as the original plan might not turned out well as planned earlier, in such a scenario is where the back up plan comes to play to save your business from failing. So it might not be as important as an original plan but it is quite important.

The truth is that the back-up plan for a business is not as important as the original business plan as a back-up plan is just an alternative for when your original business plan so that you can rely on the back up plan.

 

[Senator]

As important as a business plan is to getting the business run smoothly, so it is with the backup plan. Because doing things under sudden happenings will not yeild result like those with a backup plan for that eventuality

 

[Setfragil]

The backup plan is as important as the original plan. Every business should always prepare for uncertainties that could happen when the business does not expect it to happen. Backup plan makes it easy to be able to manage such situations conveniently.

 

[Richard92]

This is true. Having a backup plan will always give you a fallback when the going is not right in your business. Most big businesses do this and it is a great way to keep up with what is happening in your business world.

Backup plan is very important as the real plan or the original plant because the back-up plan assist you when the original plan fail.

 

[kayode10]

Backup plan is pretty much the same as initial plan. The reason is that things may go out of hand with the initial plan. It is only when you have backup plan that you are going to be rescued from the unforeseen circumstances that you may be facing in your business.

 

[Setfragil]

Backup plan is very important as the real plan or the original plant because the back-up plan assist you when the original plan fail.

That is the main reason why backup plan is very important in every business. It will helps you to withstand the shock of business challenges that could arise at anytime.

 

[Bousine123]

Sure it is my friend. When your business does not go as you have planned it, this is the best way to pick up yourself.

 

[Sotherefore]

New start-up business sometimes do not need a back-up plan because they do not have so much responsibility but as the business grows it is necessary to have a back-up plan.

 

[Setho]

It is very important that you should develop a back-up plan for your business no matter what and you should also ensure that it is a quality backup plan to very similar to the first one.

 

[Thinker009]

Having a backup plàn is necessary because most times if the business is facing liquidation and others , you will probably be able to cover for the loss effectively

 

[eLdavis]

Having a backup plàn is necessary because most times if the business is facing liquidation and others , you will probably be able to cover for the loss effectively

Indeed it's also very important. Most times our original plan might fail most especially in business, instead of being stranded and starting from the very beginning, a back up plan saves you from that stress and gives you something to fall back to.

 

[Chizfab]

A back up plan is like an alternate plan, should in case the first plan flops. It's a crucial and an important plan in any given business whether big or small scale. This back up plan is usually applied when seeking for a loan or grant.

 

[Psalmseen]

Exactly the point. Back up plan is as important as the original plan. If you wanna start a business and you start with the original pls, if the original plan fails, you should always have a back and it's very important

 

[Setfragil]

Backup plan is very important in business. If there is no good backup plan, when the business faces any challenges it will be very difficult to survive it.

 

[Queentener]

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?

Back up plan should be as important as the main plan because we don't know what might happen to the original plan, if you take the backup with levity then you might be in for a long thing.