Business Plan – Why do you need one?

As a business advisor, I have met many new and existing businesses and one thing that become apparent was that the successful businesses had a very strong business plan.
That does not mean that by making a good business plan your business will be automatically successful, but rather that people who thought thoroughly about their business and who have a clear aims and objectives are more likely to be successful.
Very often people think that business plan is only needed when you are applying for loan or other funding, but that is completely wrong.
Business plan should not be just ‘made up’ to look great to potential funders, but should reflect the real facts and figures especially to the business owners.
I have found that usually business owners don’t make a business plan, just because this would show that their business is not viable (and even though all the facts show that, they just carry on with the business, losing their money and hiding the truth).
Please, it does not matter how big or small your business is, you should have a business plan in place. Business plan is not just some piece of paper for bureaucrats, but is the ‘core’ of a business.

Often members on the forum are asking about the best way to setup their websites to generate some income, but how many have thought carefully about their business and made a business plan?

If you would like to ask any questions or discuss your business in more details, I am available for free business consultation.

Kind regards,

Richard