The excitement of starting a
business can take over your everyday thoughts.
You can find yourself at every waking hour thinking of an idea for a
business or thinking of all the products you might need to start your business. All these thoughts can be overwhelming to
some, but to others these thoughts keeps their drive going. Then as you keep thinking of everything you
need to start this business; you think about the dreadful business plan you
need to do before you actually start. So
like many people do, you decide you do not need a business plan. Well, I am here to tell you that a business
plan is needed in order to have a successful business.
You may
look at writing a business plan as a long and tedious process, but the business
plan is the road map to your success. If
you do not take time to make this road map for your business, then how will you
know what direction your business is going?
In an article on intuit, they state gathered information during your
planning process can help you see potential risks and develop strategies for
dealing with them before they occur. In
a perfect world you would never occur any issues while running your business,
but the reality is; you will. So this
business plan will allow you to address these issues head on, and will not slow
your business down. Also in the intuit
article it mentions how you can use your business plan to get investments. You can get investments from banks, venture
capitalist and angel investors. Your
business plan is your vision, and in order to show you vision you must write
you vision down. You may think of a big
extravagant proposal or plan when you think of creating your business
plan. But your plan can be very simple,with a description of your company, projecting numbers for your company, and what is your target market.
This has
been one of the issues I have struggled with while starting my entertainment
company. Our company had a vision, but
we did not write this vision down. Now
as owners we are working backwards and putting this plan together, but we have
already spent a lot of money. Our company
cannot get this money back, but if we would have had a business plan we could
have foreseen some of these issues that we are coming across now. So remember, you must have a business plan in
order to know where you want to take your company, and your business plan is
the VISION for company.
Kellie B.
I really enjoyed this post because you were able to understand and acknowledge your mistake and go back and develop a business plan. I agree that having a business plan is very important because it serves as a blueprint for what it is you would like your business to accomplish. Writing out your vision and goals are important as well. Being able to vocally tell people your visions and goals are well and fine, but once you have it in writing it serves as a reminder to where it is you would like your business to be. Great post!
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ReplyDeleteKellie, I agree with you when you commented in your post, “Your business plan is your vision, and in order to show your vision you must write it down. " Also, you commented in your post, “You may look at writing your business plan as a long and tedious process, but the business plan is the road map to your success.” I believe writing a business plan will help people to see what lies ahead for their business too. It does not even matter if it is the first time they have written a business plan. In addition, it would be wise that they get someone who is good at writing business plans to critique it. It should be someone they trust to make sure that they are on the right track. Yes, it can be costly monetarily if they do not write their business plans before they start their business, but it is better for them to learn now than pay for it later down the road.
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