Business Plan - is it necessary?

[Prettyjanie]

Before you embark on any business, it is important for you to come up with a business plan to enable you plan how you can run your business. A lot of people think it is not necessary however I have a divergent view. Having a business plan gives you a focus in your business.

Post automatically merged: Feb 15, 2021

Before you embark on any business, it is important for you to come up with a business plan to enable you plan how you can run your business. A lot of people think it is not necessary however I have a divergent view. Having a business plan gives you a focus in your business.

 

[abegunrinmicheal]

Starting a business without adequate capital seems do able but how far will the business go on the long run? Foundation matters alot from the onset of a business, many business venture have failed because they did not take the issue of capital serious, funding play a major role in business and should be taking serious if not competitors will send one off the market.

 

[EMMANUEL]

The business I could say is the best idea ever someone or a businessman will be advised to indulge, the reason is that there have been several businesses that with the scheme of making a business plan for the business has made the business generate more malignance between

 

[Makorlly]

Business plans are like road maps; it’s possible to travel without one, but it will only increase the likelihood of getting lost along the way.Rather than putting yourself in a position where you may have to stop and ask for directions or even circle back and start over, entrepreneurs often use business plans to help guide them. That’s because they help business owners see the bigger picture, plan ahead, make important decisions, and improve the overall likelihood of success.

 

[Bagg victor]

It's very advisable not to go into any business without proper understanding of the business.if you fail to plan then you are planning to fail.

 

[Hena101]

Yeah business is very necessary even though this is what most business owner don't care to know because they think once you have the you can just start up business and this causes many business to crash when the reach a certain level because the business lack good planning. Good planning is what will tells you what to do at a certain time and what not to do.

 

[abegunrinmicheal]

Yes, it's, business plan is necessary for a business, for those who don't have capital to start a business and want to go and borrow either from any financial institution or anybody, the first thing they ask is one should tender his business plan, to them so that they can ascertain whether the business is viable and profitable, so business plan is very important and necessary

 

[flowreal]

A business plan is very necessary, you shouldn't go into a business without having a drafted plan about it. This plan is what helps you to go about your daily runnings concerning the business, it helps makes the business feasible.

 

[Ezzyoj]

Business plan is as important as the business itself. No business thrive without a business plan. Business plan is like a guide for the business to be successful. And it will serve as a guidelines for the business owner as it address reason for the business, mission of the business, vision for the business, and the business targets.

 

[Emirons]

In recent time we have seen series of companies close down due to lack of discipline, business structure and business plan. A good business plan is very necessary in setting up a new business,goals and objectives has to set. Business mission and vision

 

[Olahab]

A well-written business plan is an important tool because it gives entrepreneurs the ability to lay out their goals and track their progress as their business begins to grow. Formulating a business plan should be the first thing done when starting a new business.

 

[Emirons]

In recent time we have seen series of companies close down due to lack of discipline, business structure and business plan. A good business plan is very necessary in setting up a new business,goals and objectives has to set. Business mission and vision

 

[Kehinde]

Business plans are important documents used to attract investment before a company has established a proven track record. They are also a good way for companies to keep themselves on target going forward.

 

[Kiko]

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. While a business plan is essential to entrepreneurship, not every entrepreneur sees the need for one. Many are reluctant to have their plan written down and there are numerous articles online claiming that the business plan is dead or irrelevant. Of course, not everyone agrees with that.

 

[Klismannm12]

Of course for anybody who is willing to invest in business I think businessman is very bright for an important as it's determines the direction the business is headed business without A business plan or closer it's just talking to you

 

[akinlolu99]

A marketable strategy is crucial for help you center and not stray excessively far from the arrangement. Along these lines, it causes you accomplish your short and long haul destinations. A few people are fortunate to prevail without one yet I'm the orderly sort, thus, I very much want to have a field-tested strategy.

there is a maxim that goes that when you neglect to design you intend to fall flat

I trust in planning, great arranging achieves wanted outcome

indeed it is important

 

[adeniji]

Business can be quite when there have been constant loss whereby many re-try as been made and many meeting with other company as been done to figure out the problems but still the same. At that point business can be quite.

 

[Adebola]

Absolutely business require a plan. Like an adage says if you fail to plan you're planning to fai. If you don't plan before you start a business how would you know your aim and objective, the goal and the main concept of the establishment. Under this planning you know what to produce, how to produce, when to produce, who are you target audience, how to reach them, what strategy you're to use in order to convince them. With this there will be a continuity in business.

 

[Robrown83]

Business plan is not compulsory but very necessary because what you don't plan for, you don't do it and if you do it it won't last. Even our day to day activities always need plan so while not business that we want to invest money.

 

[Gerardchris]

Business plans typically include detailed information that can help improve the business's chances of success, like a market analysis, competitive analysis, customer segmentation, marketing, logistics and operations plans, cash flow projection and an overall path to long-term growth. So yes it is very necessary