Why I need a Business Plan
TO SUCCEED !
The sole aim of a business is to succeed and maximize profits. In order to do so one must lay out a plan which is called BUSINESS PLAN.
This plans are necessary steps taken by an entrepreneur to archive his/her Goals. This plans include:
- VISION – Every business should have a vision that is, the objectives of the business
- MISSION – the Goals of the business.
- CAPITAL– before starting a business capital is a main thoroughfare you have to know your source of finance, which may include bank loans, investors and many others.
- DEMAND – okay you have your capital. Next in line is to scope the environment is the demand for such business favorable or not, this will give you an insight to where to sight your business. In other to succeed in your business you have to be closer to your customers.
- EXPERIENCE – now you have your business location, walk out there meet people who are into your kind of business share experience with them. This will give you an idea of what you are into.
- Marketing– marketing plays a vital role in every business. This means creating awareness of your business to reach a wider audience thus create more sales.
- MANAGEMENT- as your business tends to grow you’re expected to employ more people in certain positions e.g accountant,marketing manager, customer service support etc.
All the above listed are business plans which one would consider before starting up a business and it aimed at archiving a goal.
There is a popular saying ‘IF YOU FAIL TO PLAN, YOU PLAN TO FAIL’
In a business you easily get off track especially when it’s a start-up because you manage every aspect of the business from the managerial to the salesperson so it’s very easy to get off track. But with the right business plan I’m sure you’ll make it to the top.