Why You Need A Business Plan

[Ghost1]

This is never a question. I mean, an entrepreneur who is serious with his life should not have to ask why he needs a plan. They say if you don't plan, you plan to fail

 

[Tracee]

Without a proper business plan you can fall into situations such as bankruptcy as you don't have a plan on spending your funds on that business, also most people end up quiting that business when they don't even have plan for it when things turns sour.

 

[Shigobad20201]

If you don't plan before venturing into business then that mesns you are planning to fail, proper planning is a good way in which we can acheive a succesful business .

 

[Josan]

The reason you need a business plan is this: A typical example is to have an accurate built house you'll need to have a plan. So in a business, one needs to have a business plan to have an accurate expenses and also achieve you business establishment.

 

[Heatman]

Business is not something that you do without a plan which is why it's very important that you have a business plan with which you run your business through.

 

[Felixko]

A business plan is needed in every successful business because It do help you to step and think objectives about the key elements of your business and informs your decision making as you move forward. It is essential whether you need to secure a business loan or not. Keep in mind that plans does not have to be like an encyclopedia and doesn’t have to have all the answers.

 

[Toyoabasi]

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!

Just as the name implies, a business plan will help me analyse how the business intends bringing me gains. It will also determine the success of my business.

 

[Senator]

Business plans are very essential part of any business. You need to make this because it will help you in planning for the great challenges you will be facing in the later part of your business

 

[Yhubee]

A business plan is important for any business.To succeed in anything at all,planning must come into play.This also follows for business.A business plan has to be drawn as it will be a guide for your business

 

[kayode10]

Business plan is very essential if you want to raise fund for your business from the investors. You also need business plan if you want to take your business to the public to sell shares.

 

[Jhayms07]

A business plan is very essential in any business that you want to do. It is the skeleton of the business as it shows how far the business is going to go

 

[kayode10]

A business plan is necessary if you want to seek funding from the Angel investors. Having business plan is one of the criteria they look into before they can accept your proposal.

 

[Kvngsammy]

The thing is a lot of people just rush off to start businesses without even having the slightest idea about anything and as a result don't plan. They forget that business plans are important not only to the business owner but also to potential investors, people or organisations that want to give loans

 

[Oliver4smile]

For every new thing you want to do, be it a business, a trip, or any other thing in this life, you must have a master plan, that is the only thing that can help you achieve your go of doing such a thing. Anything that lacks plan is bound to fail.

 

[Senator]

You are going to be needing a business plan to help you in takling the future challenges that your business enterprise might come to face so as not to let the business go sulvent

 

[Maayong]

A business plan is very necessary to run a successful business if you don't have a business plan you'll surely run an unsuccessful business

 

[Adebayonle7]

Your points are very right, the business plan generally serves as a guide on how to propel your business, it consists of the products and services you wish to offer, your mission and vision statement, your financial plans, marketing and sales strategies and many more, following the business plan strictly makes one successful in business

 

[Essy]

Failing to plan is planning to fail, so a business that doesn't have a plan would indirectly be planning its own failure except it quickly starts planning.

 

[Ellamma]

Before going into a business, every business person needs a business plan. You need to plan how to market your product, where to market it and who to market it to. Business plans will also help you know how to handle competitions in business

 

[Immilash1]

plans is more important than capitals you start up , without having plans your business will collapse, plannings are very important in businesses,if you don't plan your are planning to fail.