Does starting up a business require a business plan

[Neeta313]

Before starting up any business you should have a business plan, it is that business plan that will help you know what you will need for the business, how the business will go, who will be your target audience, in fact basically everything you will need to make the business a success, so that you can earn profits in the end.

 

[nasiusman95]

Opinions expressed by Entrepreneur contributors are their own. Every business needs to have a written business plan. Whether it's to provide direction or attract investors, a business plan is vital for the success for your organization. ... Marketing and sales -- how you'll market your business and your sales strategy

 

[Zakir5051]

I strongly believe before you start a business a business plan is required but do you think is compulsory

Yeah, to my own opinion, Business plan is very important and even compulsory in any kind of business, because the business plan would help know your in and out.

 

[Pauljonnes1000]

Starting a business requires business plan because planning is what makes the life of the business elongated. Any business without a plan can never go far. Planning in business let us know when, how and where to start a business. When, is talking about the time or season to start, how, is talking about what type of way am I employing. Also where, is taking about the location. The location of a business is very important as the business needs to be in a very strategic area to magnet the customers.

 

[Oliver 20]

Suppositions communicated by Entrepreneur givers are their own. Each business needs to have a composed Bussiness plan. Regardless of whether it's to give guidance or draw in financial backers, a marketable strategy is crucial for the accomplishment for the organization.

 

[Davis]

Of course, I'd say yes.all business requires proper planning. A business that lacks proper planning and focus will crash in little time. Proper preparation prevent be poor performance.that means to avoid poor result ,there must be proper planning.

 

[sam386150]

Having a business plan is a very good idea before you make up your mind to start a business, you must budget yourself financially and otherwise,also know that everything is in order before you start a business to avoid breakdown of the business in future.

Post automatically merged: Feb 9, 2021

Yes every business requires a business plan, before you start a business you have to make sure your computer is fixed, think of the locations where your business will be located then think of other equipments for company use, in fact business plan is the key to the beginning of the business.

 

[Profuk57]

I strongly believe before you start a business a business plan is required but do you think is compulsory

of course every business require a business plan no matter how small your business is it requires a business plan most businesses fail because those who operate or offer each failed to draw out the plan for the business. So you need a business plan.

 

[MercySmith]

The importance of a business plan when starting a business begins by helping you to identify your possible problems and challenges. It's one thing to aim for a goal of being profitable in the first year of operation, but how will you achieve that? A business plan forces you to get realistic and look at your numbers.

 

[Afrinish]

You want to make sure you prepare thoroughly before starting a business, but realize that things will almost certainly go awry.
Conducting in-depth market research on your field and the demographics of your potential clientele is an important part of crafting a business plan.
Before you start selling your product or service, you need to build up your brand and get a following of people.
To run a successful business

 

[Achawaskey]

Definitely it is compulsory to have a business plan whether is a small business or big business all require business plan. If you plan to keep the business and make profit out of it. Through the plan you will know were your doing good and your not and the area that need amendment.

 

[Waseem74]

1. A Business Plan Is Simply a Must-Have for Some Businesses. If you plan to approach a financial institution for a loan, apply for a small business grant, pitch your business idea to investors, or enlist the support of a business partner, a business plan is required.

 

[Chuksvicthor1]

It is in my opinion that this question is self explanatory. If you set up something without a plan, then you are already setting yourself to fail. A business requires a clear cut plan on how to want to achieve goals. Starting a business without this is a recipe for failure.

 

[Youngdee]

A business plan is like a passport needed to get into the business. When you start up a business there is no way the business is going to bloom if you don’t have plans and strategies laid out to help you. You need to map out the reason for your business, how to run it and what to do to maintain the business in the market. Business plan entails the financial break down required to run the business.

 

[SAFEMOON]

Writing a business plan is difficult, but it is necessary. A business plan is used for various tasks like establishing your business's focus, securing funding and acquiring new investors.

 

[WhiteHouse]

1) For anybody to begin a business, we will begin with a thought yet a similar thought is composing bodes well.

2) Starting from Authors like Napoleon Hill to Entrepreneurial Blogs, they all recommend a require composing a marketable strategy.

3) Apart from having lucidity on your business thoughts, you will get an opportunity to assess your opposition, uniqueness of your thought and get a spending gauge, see speedy statement of purpose (

 

[QalabDogar1906]

I strongly believe before you start a business a business plan is required but do you think is compulsory

Yes , before starting any type of business we should done or make a plan about business, we should make a startigty how to done your business. Making of business plan is more helpful for growing our business and earn more money. I also make a startigty or plan before starting business.

 

[Alexandoy]

It depends on the type of business regarding the business plan. For a small scale like trading in fruits that you buy in wholesale and you sell to your neighbors there is no business plan needed. Such small time traders play it by ear, so to speak. For a formal business that you have to rent a business place and need about 5 staff to hire then that is clearly not a small business so a business plan is an advantage.

 

[Bart Simpson]

Taking up a small business does not necessarily require a business plan to get everything started, but while I strongly recommend you get a really solid and realistic business plan in order to completely direct you through what your path in the business world might look like.

 

[lelakil3]

I strongly believe before you start a business a business plan is required but do you think is compulsory

It is mandatory to have a business plan how it is going to make first and how to stable it or maintaining it as well sometimes lacking from the resources or researches can endanger the business so it is really necessarily to have a plan first of all.