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Why Do You Need Business Plan - Business - Nairaland

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Why Do You Need Business Plan by chigopeepeenini(m): 12:51pm On Jul 26, 2019
Can you drive a car without learning how to drive?
Can you leave your house to work without putting some money in your pocket even if you drive?
Can you give birth to a child without a woman around you or as the case may be, a man around you?

Some things should be done and done well.

Why do some people embark on a business journey no matter how small it is without a comprehensive BUSINESS PLAN?

Research studies reveal that the absence of a business plan leads to a higher incidence of failure for new and small businesses, as well as inhibiting growth and development.

I have many instances of a small company that has fizzled out or are just barely surviving because they refuse to heed my advice of a need for a business plan.

The most important step in launching any new venture or expanding
an existing one is the construction of a business plan.

Such a plan must include your goals for the enterprise, both short and long term; a description of the products or services you will offer and the market opportunities you have anticipated for them; and finally, an explanation of the resources and means you will employ to achieve your goals in the face of likely competition.

Once completed, your business plan will serve as a blueprint to follow which, like any map, improves the user’s chances of reaching his destination.
Guess what?

It is very cheap to construct a business plan.

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