Why You Need A Business Plan

[Heatman]

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

Seriously is never possible for you to run a business successfully without a business plan just like you mentioned you can't jump into cryptocurrency trading without having the plan on how to trade between successfully.

 

[Seno inyang]

A business plan serves a lot of purpose as it helps you know the financial situation you will be needing in your business, your competitors as well as the category of staffs and customers you'll be needing.

 

[Good-Person]

Planning is very important in every part of your life. Having a business plan is definitely one of the most important thing and most importantly, you would need to have a secondary plan that could also help you to deal with the situation in case the first plan fails.

 

[Kaffyfolla]

A business plan is a very important and strategic tool for entrepreneurs. A good business plan not only helps entrepreneurs focus on the specific steps necessary for them to make business ideas succeed, but it also helps them to achieve short-term and long-term objectives

 

[Sotherefore]

Business plan is always a guiding principle on the step you have to follow in your businesses and I can't even see how people can start up a successful business without having a plan that will help them in their business activities.. it is really necessary and expert will even advise you to have it.

 

[Shigobad20201]

A business plan helps you to know if you are having financial difficulties and it also helps you is safeguarding your business , and it also helos you in tackling threats from other competitors.

 

[ganibade]

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.

We need a business plans to excuite a good successful business plan. This is most important aspect of business orientation plans the reach a maximum level in establishment

 

[Kaffyfolla]

he importance of a business plan to entrepreneurship can also be in the way it crystallizes just what kind of help you need. Merely telling a friend or potential business mentor you're aiming to start with ten employees, for example, is not an exceptionally detailed statement. Showing a business plan that outlines the exact duties, salaries, and expectations you have for employees gives far more information for people to provide advice about
.A business plan is also essential as the primary guide for how you will structure and allocate your resources. It's here that you will see just how feasible it is to open an office, hire employees, and look at operating costs. The business plan can quickly show you whether you will be making a profit or running at a loss, and it shows how much those losses may be every month.

 

[Bookwormlux1]

Business plans are those things that would serve as reference point to you as a business owner any time you are trying to assess and evaluate how far you have come in the business.

 

[Ghost1]

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.

I totally agree with you m The importance is so unlimited. It's sets the bedrock of that business, not planning is more like throwing your money away

 

[kinqzbitz]

Well having a business plan is actually very important and so one must always take it I to considerations and it helps one know what and what not to do in a business

 

[Skysaint]

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.

Every business should have a purpose and that's what a business plan is for and it also includes various ways one can possibly achieve such goals. It kinda gives direction to ones business

 

[Sotherefore]

Every business should have a purpose and that's what a business plan is for and it also includes various ways one can possibly achieve such goals. It kinda gives direction to ones business

Some people are always so overconfident in their business to a points that they may not really be interested in all these things because they believe in themselves that they can succeed in their business even when all those things are not in place..

 

[Good-Person]

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.

Just like a football match, players (businessmen) need to change their business tactics most of the time in order to achieve success.

 

[Skysaint]

Some people are always so overconfident in their business to a points that they may not really be interested in all these things because they believe in themselves that they can succeed in their business even when all those things are not in place..

Well, it's not really advisable to become overconfident in whatever you're doing because it will make you vulnerable. No matter how easy you think to run such business is, it won't take you a thing to do the needful

 

[Sotherefore]

Well, it's not really advisable to become overconfident in whatever you're doing because it will make you vulnerable. No matter how easy you think to run such business is, it won't take you a thing to do the needful

What I understand about overconfidence is when someone exhibit the character, they will just be careless because they believe that everything they are doing is perfect, but it may completely be the other way around.. have you ever had an experience ?

 

[Ononivami1]

I don't see a business without a business plan survive. The business plans that you have on ground would guide you around your business goals.

 

[YERUS]

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!

Well stated.
A business plan helps you as a business owner know the feasibility of your proposed business.
It also helps you know the threats and opportunities available for your business.

 

[Good-Person]

It is always much better idea to invest in a product that is quite high in demand. In my country, the demand for mobile phones and smartphones is quite high and many people have been making much money in this business. Electronic items and products are high in demand.

 

[Robust]

I believe that every thing one does need to have a good plan or either it will not go well for he/she. One really need to have business plan to know how much it will cost him/her, to see how the business growing, to know the financial expensive and others.