Does starting up a business require a business plan

[Profwriter]

You may not need any plan to start up a business if you don't desire to make good profits from it. To have a successful business, you must have a plan concerning the business and that includes your marketing strategies, growth plans and many others.

 

[shakky2]

according to my own opinion it is better to have a business plans which will serve as as a guide to your business and also every steps to be taken is already outlined and will be a great companion for your business journey

 

[Highflyer]

Yes starting a business requires a good business plan, this will enable you to know the risks involved in the business, how to avoid them, your profit, etc and several other things about your business.

 

[Godleads1]

The business plan for a business is like a travellers map. The business plan is a guideline for the achievement of goals and objectives.

 

[Mahnoor]

. 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.

 

[Donkiz]

A business plan is very important to every business as it serves as a road map through which the progression of the business is measured. Having a business plan does not necessarily mean that it must be a written document, you can have a picture of how you want your business to grow in your mind and follow it.

 

[Ibrahim]

As for me and if am going to advise you I won't tell you not to go into business without plans because what will you do without having plans and you start business, I believe no plans no business because plans makes you a successful businessman and good business man so you must have plans so you can become business man

 

[Genialboy]

There's need to have a business plan before venture into any business, because proper planning gives any business define direction, on how the business is going to be run,because he that fail to plan ,plan to failed.

Post automatically merged: Feb 11, 2021

Why business plans is very important to every business,because its include vital information that can help to improve the business, such as chances of success, like market analysis, competitive analysis, logistics and operational plans, customers segmentation, marketing, cash flow projection and an overall path to long term growth.

 

[Muhammad hussain]

I think it is necessary to pray that it should be so it should be.It is important for the business to make the best intentions for itself first. It is important to manage. Na am Pervez. There are general rules for growing a business

 

[Adetayo100]

I think it is totally neccessary and compulsory to have a business plan before establishing a business of your own inorder for it to turnout successful.The only aspect where I think a business plan could be optional is when you consider putting it on paper, a business plan should bot neccessaril be on ink and paper.

Not having a business plan and strategies when starting a business is a recipe for failure waiting to happen. Most businesses fail at start up because of issues like this. Most people thinks once i have money i can go into business which is a bad idea.

 

[Onachukwu]

1. An important first step is preparing a business plan to define your business, products and services, and outline your goals, operating procedures and competition. If your company needs funding from a traditional loan or venture capitalists, a business plan will be required.

 

[Urooj]

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

I think it is very important to have a plane when you start a business. Your plane tells you your goals about your business. No business grows up without proper planing Wise people always plans their strategy before starting a new business. Good planning leads you toward success .

 

[Psalmseen]

Definitely! To run a successful business requires a good business plan or else the business will fail in no time. Just as the saying goes that, he who fails to prepare definitely prepares to fail. Before you start a business, you must set out your long term and short term objectives so you will check yourself how well you have been moving

 

[Ridorz]

I

This is the very first step you have to take before you go into any business of your choice. A good business plan helps you your targeted customers. The aims and objective of your business will be captured in your business plan.it also helps you to know your competitors in that business.

Yes, you are correct. Before you can start Business the first step is to make strong plan for the business you tend to start. Because plan is very important in terms of any kind of business either small scale business or big scale business. Any business without well plan will difficult to succeed or let me say it will not succeed.

 

[Presido]

A business that want to make sales and profit in its doings must be able to make or schedule for business plan .
A business plan should be able to make a business plan that will guide the business in the day to day activities of the Business.

 

[Samuel77]

According to my own point of view, I believe starting up a business requires a perfect business plan but still it depends on the kind of business you're about to start if it's a mini business it's not compulsory for you to have a business plan, but if it a standard business you really need a business plan

 

[Blessedsam60]

Yea, starting up a business requires you to have a business plan. This will help you to derive the needed stuffs in your business (essentials) and will show your strengths and weaknesses. Having business plan too will help you to understand factors that might affect your business.

 

[Ayokex]

It is very important to prepare a business plan when starting a new business because it is like preparing a building plan when someone want to build a house. A business plan is a template to which every activity of the business will be based on.

 

[Asad Ali]

In the past, start-up businesses have drawn up a business plan for three basic reasons: to articulate their vision for the organisation. Any company must have a written business plan. Whether it is to provide advice or attract investors, a business plan is vital to the organisation's success.

 

[westmania]

if someone is very well can remind everything like photographic memory then a business plan is not essential in the behinning but ultimately he needs to have record written in paper or digitally saved format. In major cases a business plan is a must have.