Why is a business plan important and who should write it?

[Kelvin7656]

To help you with critical decisions. While business plans have many purposes, the primary importance of a business plan is that they help business owners make better decisions. ... Building a business plan allows you to determine the answer to some of the most critical business decisions ahead of time.1 May 2019

 

[Goodday]

A business plan is very important for every business and it should be well drawn in order to ensure high chance of success.
The business plan should either be drawn by the business owner or he or she should hire an expert. For me, l think the best person to draw a business plan should be the owner since he knows what he's starting the business for and how to manage it.

 

[Heatman]

Going into a business needs a plan. The business owner can write the plan or give it to the professional writer to help write the plans. Planner see more into the business that is why it is adviseable for the owner to write it himself because it would make him to be conversant with the business.

Writing your own business plan is very good from where I can see it because it affords you the opportunity to fit in the business as you want it and not subject to evaluation after the business plan has been written for you by another said expert. If you can write it properly, it's better than you do it yourself.

 

[Adeyoola7]

It helps you in creating marketing strategies
It helps your business in analyzing revenues, expenses, and projected profits.
A well-written business plan helps in attracting investors and new hires.
If you have an idea and you want to start a business then you should write your own business plan. Since nobody knows your business as you do.

 

[Esther]

When it comes to business I feel you should do something that you're passionate about. Something you love anyone can write a business plan but it should be the owner. A business plan is very important because without a plan you won't do anything even if you had the money without a plan it won happen so a business plan is very important

 

[Diddi01]

A business plan is important, everything good in this life needs to be planned well before being put in to action. And for the matter of writing it, that depends. If you know you are well knowledged about businesses then you can write yourself but if you are not, get/hire someone to do it for you.

 

[Abu4exel]

A business plan is very important,if you want to be successful in the business in future. There are a lot of competition in the business world and for you to last long, it's your business plan that will make your business stands out among others due to the way you set up your plan. And you can look for a professional business planner to help you draw the business plan.

 

[Umerfarooq]

Although there are numerous small businesses in a wide range of industries that perform well and are consistently profitable, 20% of small businesses fail in the first year, 50% go into abeyance after five years, and only Only 33% make it to 10. According to the Small Business Administration (SBA) year or more

In order to keep a new or established business safe, it is important to understand what can lead to business failure and how each obstacle can be handled or avoided altogether. The most common causes of small business failure include lack of capital or financial support, inadequate management team, poor infrastructure or business model and failed marketing initiatives

 

[Anas Chaudhary]

The business plan provides details about your company, competitiveness, customers and industry so you can make the best possible decisions to grow your company.

 

[miztersam]

Business plan is very important because it helps to create an effective strategy for growth and also to determine your future unforseen financial needs and also attract investors and a business plan should be done my a specialist

 

[gbadebo9]

Business plan should be written by professional expert in the field of work they wanted to do. Without the professional it will be very disastrous for amateur to write the business plan the business will suffered for it. The business plan should be spelt out and implement to the letter.We need to be conversant with the rudiments of the plan so when they were implement the project it will be to the specification. Business plan should be written and by the expert and the professional will be the one to implement the lay down plan.

 

[Oliver 20]

To assist you with basic choices. While Bussiness plan have numerous reasons, the essential significance of a strategy is that they help entrepreneurs settle on better choices. Building a field of tested plan permits you to decide the response to probably the most basic business choices early

 

[Abid Hussain]

Why write a business plan? Easy: A business plan is a map of your business. If you want to build a house, you don't go to a vacant lot and just start nailing boards at once. Starting a business without a business plan is just as risky.

Yet, unlike any house, business is not stable. We often make the mistake of thinking of a business plan as a document that you just started when you first start and then separate. Something else to do with checking the to-do list.
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Why write a business plan? Easy: A business plan is a map of your business. If you want to build a house, you don't go to a vacant lot and just start nailing boards at once. Starting a business without a business plan is just as risky.

Yet, unlike any house, business is not stable. We often make the mistake of thinking of a business plan as a document that you just started when you first start and then separate. Something else to do with checking the to-do list.

 

[Ihtsham Raza]

To help you with critical decisions. While business plans have many purposes, the primary importance of a business plan is that they help business owners make better decisions. ... Building a business plan allows you to determine the answer to some of the most critical business decisions ahead of time.

 

[Victor72]

Business plan is very important because this is the standard of the business this is the rules and regulation that will guide the business from the beginning. The owner of the business and a good professionals she be the one to write the business plan, this is to ensure that no mistake should be made
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Business plan is very important because this is the standard of the business this is the rules and regulation that will guide the business from the beginning. The owner of the business and a good professionals she be the one to write the business plan, this is to ensure that no mistake should be made

 

[Dorcey]

I think a business plan should be written by a business expert ,. To help you with critical decisions. While business plans have many purposes, the primaryimportance of a business plan is that they help business owners make better decisions. ... Building abusiness plan allows you to determine the answer to some of the most criticalbusiness decisions ahead of time.

 

[Heatman]

I can very much remember what happened to one of my very best friends who wanted to start up a restaurant business. She wanted to jump into the restaurant business without working with a business plan but because of my knowledge and experience, she had to change her and worked with a business plan and if not the business would have been a disaster.

A business plan is important, everything good in this life needs to be planned well before being put in to action. And for the matter of writing it, that depends. If you know you are well knowledged about businesses then you can write yourself but if you are not, get/hire someone to do it for you.

 

[Ridorz]

Business plan is very important for a business, it is the guide to the business, the owner of the business should write the business, but if the the owner cannot write his business plan he can contract it out to professionals.

You are right. Business plan is very important and it's a compulsory thing to be done for a business to start if you want to run the business successfully because plan is like foundation of a house. Therefore, business must be well plan, and the business owner is the one that supposed to write it.

 

[zahidhussain]

A business plan is very important and productive for any new business who wants to grow faster. This will entails all the analysis on how to grow your business and the best person to write this is a business advisor

A buisness plan is very important and helpful to run it successfully.Giving a monthly plan to the empolyees to dealing the customers.A strong plan give the best success in buisness.Increase the produtivity

 

[Heatman]

You are right. Business plan is very important and it's a compulsory thing to be done for a business to start if you want to run the business successfully because plan is like foundation of a house. Therefore, business must be well plan, and the business owner is the one that supposed to write it.

From my experience and personal perspective, any business that doesn't start up with a business plan laying the business foundation is nothing but an amateur business which never stays in business for a long time. Most times such business don't last more than 2 years and they out of business.