Why You Need A Business Plan

[Godspower]

A good business plan is very important to the success of a business. It will give you a clear direction on things to do and how to overcome challenges and difficulties that the business may encounter.

 

[Kaffyfolla]

One of the first and important things in a business is the clarity of idea i.e., what you specifically want to do and why you want to venture into that kind of business. Once an idea is conceived, putting it down on paper should be the ultimate goal. It is usually done before other logistics such as getting an office or hiring a manager. Without a clear idea, goals and objectives will not be prioritised, giving room for errors.

 

[joy101]

Business plan is very important in a business because it will help you to know start up your business, because every businessman must have business in order to succeed in the business.

 

[Immilash1]

Business plan is very important in a business because it will help you to know start up your business, because every businessman must have business in order to succeed in the business.

completely true.you need to plan your business today in order to make it successful tommorow.business plans are very important ,is one of the stages of your success.

 

[Stnicholaz]

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.

I can relate with you analogy and I think it clearly explains the importance of business plan. Starting is a business without any written document to guide and direct the entrepreneur on how the business should be run. It will definitely affect the running of the business.

 

[kayode10]

You need a business plan in order to have a clear focus on where you want to take the business to in the next few years. You also need a business plan if you want to convince investors to put money into your business.

 

[Heatman]

It would be very difficult for you to make good business decisions without have a good business plan because it's the plans that will guide you through.

 

[kayode10]

It can be very hard to convince an investor if you don't have a business plan well prepared. Business plan is also required anytime you want to take a loan from a financial institution.

 

[Heatman]

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

Seriously, it's why having a good business plan is always very necessary and beneficial to your business because you can't do without it.

 

[kayode10]

He will research and well written business plan will show that you are really serious about the business. This is what you will use to convince the investors whenever you are asked to come and do presentation to win a loan or Grant for your business.

 

[Heatman]

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.

If you really need to get by a very difficult situation in your business, you must always work with a business plan, otherwise it's going to be very difficult for you to cope.

 

[Skysaint]

Of course, one needs a business plan as that will contain you business objectives and how you've planned out to achieving these objectives. It will also help you know when you deviating from these business goals of yours

 

[Abigael]

It would be very difficult for you to make good business decisions without have a good business plan because it's the plans that will guide you through.

Yeah, a good business plan guides decision making process in a company. So one should ensure that they make a plan first before commencing on the business.

 

[Good-Person]

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

Since you do not have any kind of business in mind right now, I would not recommend you to start any business as of now because you would need to be mentally tough in order to start a business. You would also need to make a proper business plans, so try to get mentally prepared first and plan things well.

 

[Heatman]

Yeah, a good business plan guides decision making process in a company. So one should ensure that they make a plan first before commencing on the business.

It is actually very useless starting a business without having a business plan because there is nothing that business is built upon which is going to make it not to survive.

 

[Sotherefore]

Most people do not see the needs from it but I believe it is absolutely necessary because this will be as a guideline rules on how you will be running your business, without a business plan it is possible to succeed but your business is not likely to have a direction.

 

[Justin]

A business plan is centered around your product development, building brand, generating sales, etc. If you have a business plan, it becomes easy to build your business as generate revenue,

 

[Trexxxy]

I can relate to your analogy and I think it clearly explains the importance of a business plan. Starting is a business without any written document to guide and direct the entrepreneur on how the business should be run. It will affect the running of the business.

True. I think it doesn't necessarily have to be a document guide because when you start the business there are things that you haven't even thought of, that one has to face. I think the most important Is to have a clear and concise business plan/strategy and purpose.

 

[Kingstone]

As mentioned, the importance of a business plan can't be over-emphasized. I am not into a business currently but I plan how to make my money online especially how to trade and invest in crypto

 

[Good-Person]

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

There are many people who often get puzzled after starting their business and end up suffering. It is always very important to have a plan b in case you miss out things and end up suffering from loss.