Why You Need A Business Plan

[ahmedo24]

I already have business plan in my mind. My plan is to be a multi millionaire through online business like cryptocurrency trading. I have to deposit to my cryptocurrency wallet million of dollars.

That's a good intention but not a plan yet in my opinion because you need to have time line and strategies on how to achieve your mission , that is business plan.

 

[Mayox25]

A business plan is like your manual through which you implement each step of your outlined plan in establishing and running your business.

 

[Senator]

You will always need a business plans your fall back plan Incase sometimes goes wrong with the running of the current business so as not to start making new plans again but rather implement what you already have on ground to salvage the situation effectively

 

[Skysaint]

Well, it's important to have business plan because you just don't wake up one day and jump into any random business you feel like. There should be research made and a strategy awaiting implementation before venturing into a business.

 

[Setfragil]

A good business plan goes a long way in determining how good a business will be. For your business to function the way you want it, you will need a good business plan to run and manage it successful.

 

[Ceeny007]

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!

It helps when you need financial assistance from financial institution,it helps you see the business in another way, overall it's necessary

 

[Dagm1]

Whatever requirements an appropriate planning, as well as more when you're attempting to develop a company. You initially have to compose a strategy and after that act appropriately.

 

[BrolySSJ]

Whatever requirements an appropriate planning, as well as more when you're attempting to develop a company. You initially have to compose a strategy and after that act appropriately.

Strategies form the crux of any business because that is where you are able to account for any factor that you are uncertain about and it is how you will be able to plan ahead for these worst case scenarios as well.

 

[Ezekiel]

Biblical it is stated that have you seen a man who wants to build a house without knowing the cost of it from the foundation to roofing,a man without business plan will just float on inventing the business without succeeding in doing the business

 

[jeff87]

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.

You are right. Every business needs a proper business planning. Without this proper planning I believe your business will find it hard to survive in the business world.

 

[Richard92]

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.

Business plan is very important in starting up any business because this will help you to regulate your business and formulate strategy in a business to succeed.

 

[Adam13]

Why is a business plan needed? A business plan for a set off guidelines that contain all the things we intend to achieve in starting a business. Creating a business plan can be very helpful and eases the stress of having to manage some things which would have already been taken care of period the business plan helps you track your goals as well as your failures and successes.

 

[Setfragil]

A business plan is very important in every business. It helps you to know the capital needed to run the business, the type of products that is in more demands by the people and other things that the business might needs.

 

[Alexandoy]

A business plan is very important in every business. It helps you to know the capital needed to run the business, the type of products that is in more demands by the people and other things that the business might needs.

The determination of the capital in the business plan is important for the start up because many small businesses have failed due to wrong calculation of the capital. After a month of operation they would resort to borrowing money from the micro finance lenders and that would cause a financial problem.

 

[Kelly5]

Without a business plan for whatever business you are about starting, a while lot can go wrong that can even make you close or short down the business when you should not be shorting it down simply because you have never gotten a plan on ground when starting the business. A plan would save that business from shorting down

 

[Riciakenosha]

You will be able to call yourself a successful business man if you set out goals and plans outline them and when you archieve or conquer them you will have success a business plan helps you keep track keeps you disciplined and motivated

 

[tuna89]

You are totally on point, more like a guidance on how the business will move, it also includes the results of a market survey which defines the buying power and preferred products by the people.

 

[Mr Peter]

He

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.

who doesn't plan, plans to fail. Every successful business is born out of a proper plan. Issues of location, targeted customers and capital are solved in planning

 

[Setho]

You are definitely going to need a business plan to make your work in your business much more easier. It helps you to outline every part of the business .

 

[Kane]

You need a business plan to identify your target customers, set your sales and other targets, market to your target audience, build your brand, etc. In fact business plan allows to research and develo products and generate sales.