Business Plan - is it necessary?

[Junaid]

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.

 

[ALI25]

A lot of people start their business without following the bookish instructions. And some of the time they are successful with it. You can see that people need to make use of the business plan. And some of the time following that approach helps them stay focused. And they can improve their business by finding out what went wrong with it.

Do you think business plan is necessary?

Yeah Al that sounds pretty crap to me, Looks like BT aint for me either.This allows us to better understand every aspect of our business and find the problems that arise and the solutions to them.This is a very good thing for us.

 

[Fatima]

Getting a business plan is needed in a business before you commence that business, the business plan is just a research on how to adequately run the business, it contains all the needful as regards the smooth running of the business

 

[Jimmie150]

I feel it is very necessary for a business to have a plan which serves as a guide to what to expect in the business. But there some business that do not have a plan they believe in what will be will be.

 

[chommyluv]

A lot of people start their business without following the bookish instructions. And some of the time they are successful with it. You can see that people need to make use of the business plan. And some of the time following that approach helps them stay focused. And they can improve their business by finding out what went wrong with it.

Do you think business plan is necessary?

of course business plan its essential for the success of every business. If one fail to plan, then bound to fail. every successful business has a blueprint that guide its operations.

 

[adazeez1995]

Of course a business plan is very important to a business. In fact a serious businessman should have a well outlined business plan. A business plan also helps to expose more opportunities to the enterprenuer as it helps you see your business in a new light and reality in respect to other conditions

 

[Victor001]

As a business ethusiasist, its either you fail to plan or plan to fail, rome was not build in a day, spend more time in planning your business than investing, most people crashed out of business because they fail to plan as at when due.

 

[Neeta313]

The business plan is very important, it is essential before starting up your business. Creating your business plan will give you an idea and a preview of how the business will be basically and also prepare you for uncertainties like risk and losses and other challenges you may encounter in your business.

 

[Jlife]

a business plan b also can also be called a switch over plan because it is a plan that is executes if a particular business or the first business you are going into is not showing any sign of improvement and it is absolutely necessary if you have the money to organise it.

Post automatically merged: Feb 14, 2021

a business plan b also can also be called a switch over plan because it is a plan that is executes if a particular business or the first business you are going into is not showing any sign of improvement and it is absolutely necessary if you have the money to organise it.

 

[Mahnoor]

• It examines the risks and chances in your business idea.
• It provides an answer to questions such as: when will the business become profitable and what profit will it show?
• It serves as a sales tool for potential investors, business partners and banks.
• It specifies the sum of money you will need for investment purposes and who is the right source to raise it from.
• It shows objective analysis and filters exaggerated estimates.
• It reflects operational aspects that concern the stages after establishing the business.
• It specifies the milestones in the business’ development stages.
• It constitutes a work plan for implementation.
• It provides an expression of variables in the macro field that include: sector developments, macro economic developments and reference to competitors.
• It comprises a detailed guide from the day of establishment through to the later stages of the business.

 

[Milz]

When you fail to plan you plan to fail. Without a business plan, you're just going into the business blindly without knowing what you want, what your focus should be or who your target audience are.

 

[katkat]

Business plan is very important to start a business. It is your guide what to do or what will be the next when there's an avoidable circumstances along the way. With a plan you can be guided.

 

[Golden5]

Business plan is very good in every business because it will help you to know how to manage your business effectively, however sometimes people can run a business successfully even without a business plan due to the fact they have undergo the real practical aspect of a business. So business plan doesn't guarantee a successful business.

 

[Lordfalcao]

A lot of people start their business without following the bookish instructions. And some of the time they are successful with it. You can see that people need to make use of the business plan. And some of the time following that approach helps them stay focused. And they can improve their business by finding out what went wrong with it.
Do you think business plan is necessary?

 

[Sunnytee]

Not only necessary but also important

If you fail to have a business plan and you run into a business at the end the business will later run down

It will cause business failure

Such a business will definitely have a problem in the long run

 

[jagabaney]

A business discussion forum is an online discussion board where business leaders can share knowledge and ideas with their peers. There are a number of active business discussion forums online, some focusing on specific industries and others dedicated to C-level executives and business founders

 

[Igbokwe chidera]

Yes, business plan is necessary for the growth of your business. With Business plan, you will be able to know how to structure your business and what your business needs whenever it gets to a certain stage

 

[Chumzy]

The importance of a business plan is always so helpful to the organisation. Every business that seeks to thrive must follow every good step neeed. Making a plan upon your research already puts you ahead of so.

 

[Olahab]

To help you with critical decisions. While business plans have many purposes, the primary importance of a business plan is that they help business owners make better decisions. ... Building a business plan allows you to determine the answer to some of the most critical business decisions ahead of time.

 

[Sheyemanu]

Concerning your thread on of a business plan is essential, I would say yes, a business plan is very essential. It guides you on exactly what you want to do, it defines your target market and guides how you use your funds in a way that you will not waste or go bankrupt easily. With a good business plan, your chances of being successful are so high