Why You Need A Business Plan

[Adventurer]

Nowadays I see many new businesses springing up without business plans and it amazes me.

No matter how small your business venture is, it is imperative to have a plan, here is why

1. A business plan helps you determine the feasibility of the business

2. Identifies your threats and competitors

3. Lays out long term milestones that are important to the success of the business

4. Identifies your financial needs

5. Analyses how the business intends to make money

6. Provides details about the company, staff and customers

The importance of a business plan to cannot be over emphasised.

Are you starting a new business?Write that business plan!

 

[Sariana23]

I don't have a business yet but I do have it in mind for the future, so I have taken the time to read and understand that the business plan is of utmost importance in entrepreneurship, as it is a guide that must be followed to achieve success in a business idea or project. This leads to making the expected business a reality.

 

[Kane]

Everything needs a proper planing, and even more when you are trying to build a business. You first need to write a plan and then act accordingly.

 

[Kunkun]

It's important for a business to have a business plan before proceeding, a business plan is like a blueprint of a business it shows what the business owner wants to do

 

[Trexxxy]

Indeed. Having a plan is key, it is almost like a football coach going to play a match without a tactics or formation. Just like you have rightly mentioned, it helps with a lot of things.

 

[Shigobad20201]

A business plan helos you in many ways in the company , it helps you to know more about your competitor and the threat in the business world, secondly it helps you to identifies the financial needs of the company.

 

[Alexandoy]

For me, a business plan is a guide on what to do. But the most important part is knowing full well the operation of the business. My take on starting up is to have a hands-on training so that you can feel how the business is operated. You can also see the potential problems and the opportunities that may come.

 

[Yaqoob Habib]

For me, a business plan is a guide on what to do. But the most important part is knowing full well the operation of the business. My take on starting up is to have a hands-on training so that you can feel how the business is operated. You can also see the potential problems and the opportunities that may come.

When you start a new business, there should be a plan for it that you want to take your business with understanding.If you want to run your business with a plan, then you can succeed in your business very soon.

 

[Kayzzy3]

Nowadays I see many new businesses springing up without business plans and it amazes me.

No matter how small your business venture is, it is imperative to have a plan, here is why

1. A business plan helps you determine the feasibility of the business

2. Identifies your threats and competitors

3. Lays out long term milestones that are important to the success of the business

4. Identifies your financial needs

5. Analyses how the business intends to make money

6. Provides details about the company, staff and customers

The importance of a business plan to cannot be over emphasised.

Are you starting a new business?Write that business plan!

All the things a business plans does and is needed for as outlined above is as important as the money to start the business and is very indispensable. The business plan is an essential need also.
It will also help the business to properly analyse and plan for the future too, it will help to monitor growth and know areas where improvements are to be made.
Wonderful outline there!

 

[Kingsley]

There is a statement that goes thus, if you fail to plan you plan to fail. Planning is the foundation of the fabrics of our lives. So I will say that it I very good to plan proper before embarking on any business venture as failure to do proper planning will spell doom for the business.

 

[tyrim88]

These are very good point on business planning.Strategising on how to aquire customers in the open market is also another plan for action,you also have to determine the best form of media to use for your advertisment wherther search engine or social media.

 

[Mostee501]

Business plan is always needed before starting a particular business, business plan aids the person executing the business to have direction.

 

[eLdavis]

A business plan is pretty much the sole of the business. Going into a business without a plan, is like a disaster in wating. Your business plan is where you create strategy on the kind of audience you plan on attracting and how you wish to attract them

 

[Kelly5]

A business plan helps you from taking wrong decisions without giving thorough thought into it in the future life of the business, as the plan on ground would have taken care of that

 

[Ub40]

There is a popular saying that he who fails to plan, plans to fail. So to me, I think the first thing to consider before putting up a business, be it offline or online, is to draw your business plan first. Plan has a lot of role to play in the growth of your business.

 

[Richard92]

There is a popular saying that he who fails to plan, plans to fail. So to me, I think the first thing to consider before putting up a business, be it offline or online, is to draw your business plan first. Plan has a lot of role to play in the growth of your business.

you need a business plan as an individual to start up a business because it will create a structure plan and routine for your business to follow and to be successful.

 

[Dowenship]

Nowadays I see many new businesses springing up without business plans and it amazes me.

No matter how small your business venture is, it is imperative to have a plan, here is why

1. A business plan helps you determine the feasibility of the business

2. Identifies your threats and competitors

3. Lays out long term milestones that are important to the success of the business

4. Identifies your financial needs

5. Analyses how the business intends to make money

6. Provides details about the company, staff and customers

The importance of a business plan to cannot be over emphasised.

Are you starting a new business?Write that business plan!

Yes... Business plan is really important i for any start up businesses to grow, because the plan make the business to last even when there are challenges.

 

[FreshKaz11]

Nowadays I see many new businesses springing up without business plans and it amazes me.

No matter how small your business venture is, it is imperative to have a plan, here is why

1. A business plan helps you determine the feasibility of the business

2. Identifies your threats and competitors

3. Lays out long term milestones that are important to the success of the business

4. Identifies your financial needs

5. Analyses how the business intends to make money

6. Provides details about the company, staff and customers

The importance of a business plan to cannot be over emphasised.

Are you starting a new business?Write that business plan!

I like everything written in this article on how to plan well before starting up a business,a well plan business always flourish when we start,but the one that is not well plan would go the other way I guess.

 

[Fozzy_boy]

I don’t have any business in mind now and I don’t even have any business plan. I will think of a business plan when I’m starting a business

 

[Chibson]

Business plan is very important to run a successful business. Any business man who does not have a business plan we definitely run a shambolic business which will lead to failure.