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Must Read! 5 Importance Of A Business Plan by Honestyboy(m): 9:36am On Jul 14, 2016 |
In the beginning, I thought it was not a needed component of a good business; even though I have known at least some bit about it; only to get into trouble in the course of running my first business” said Josh Doye . : Business plan is certainly needed for a smooth running of a business, not even the talk of start-ups. : Why some business ignoring the fact that they need a business plan for their business? : Big question and my answer to that is this; : Ignorance has played a better part of that business and I hope yours is not like that? even if it is, this post will give you some reasons why you need to get a well written business plan for your business. : It is most certain that you will be thinking, when really can one write a business plan? please if this question bothers you, it is best to know that your business needs a business plan for as long as it exist; since it will be needed to show forth the way to the future of you business.,.m : This post will help you to see the importance of a business plan and how it can help your business thrive in the short and long term. : Let explain the subject matter first before we move further. : What is a Business Plan? Even as simple as this question is, i do not want you to take it for granted. A Business plan from my own understanding is ‘a step by step documentation of a business idea from the first stage to a foreseeable running of the business ‘. : If you certainly can get your business running on paper, which we commonly call a business plan; then you will likely have a better chance and control of your business. : Now let's get to see the importance of having a business plan for your business. : Importance of a Business Plan : 1st. Direction : The number one important of business idea is vision. Vision can give you a picture of your business in the sense of the future, but a business plan will open your mind to the direction of the vision for your business. The direction could end up like a well defined goal for your business which mostly comes from a documented business plan. : 2nd. Confidence : A lot of tips has been written on confidence, But I am very sure that having a business plan will boost your confidence in your business. Business challenges could lead to loss of confidence but a good business plan will keep you in shape. : 3rd. Success : Success certainly comes to the one who stay put with the plan for the course. every business venture comes with it own challenges; the first factor that will help you to overcome every form of business failure is a well written business plan. : 4th. Access to Fund : One of the reason why I strongly believe that you should get a business plan is because of this point. how can you get access to fund from an investor if you don’t have a good picture of your business on paper. This is why you should have a well written plan; This will increase your convincing power to your potential investors. : 5th. Sound Judgment : Business is all about making decision; but how can you make sound decision when you don’t have a picture of your business on paper? This is why you should write a business plan for your business. : If you most succeed in your business, then you must write a sound business plan and ensure you stick to the plan (but let your plan be a flexible one). : Now let's hear from you, what is your experience in business? what do you think about the importance of having a business plan? Source http://www.nairatrace.com/2016/07/must-read-5-importance-of-business-plan.html?m=1 |
Re: Must Read! 5 Importance Of A Business Plan by ezechueze(m): 3:28pm On Jul 14, 2016 |
nice post |
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