12 REASONS WHY A BUSINESS PLAN IS IMPORTANT!
1. A Business plan is like a road map that tells you exactly where you are headed. (If you are looking for a street most people don’t wander around aimlessly, instead they look at a road map to see exactly how to get from point A to B).
2. A Business plan can be used internally to plan and control the business. It can also be used as a document to present to venture capitalists, bank managers etc to attract funds.
3. Business Plan allows you to plan and control your organisation’s growth.
4. Business Plan allows you to set performance goals for yourself, your managers and your organisa-tion. Once goals are set, performance can be checked.
5. A Business Plan reduces waste and duplication of effort.
6. A Business Plan forces managers to write down exactly where they are in the marketplace and where they are headed, creating a better understanding of the market.
7. A Business plan forces managers to analyse what is happening in the marketplace.
8. A Business plan forces managers to look more closely at what is happening in the business. Many a good business has fallen into trouble by not controlling its finance. Companies must plan for seasonal fluctuations, expected increases or decreases in demand. They must standardise systems to price for profitability.
9. Managers must divorce themselves from fire-fighting and look objectively at the busi-ness. He/she must allocate a portion of time to matching firms resources with opportu-nities in the marketplace.
10. A Business Plan allows managers to clearly understand the business priorities.
11. A Business Plan means less surprises.
12. A Business Plan creates an awareness and acceptance of change.
These are the 12 REASONS WHY A BUSINESS PLAN IS IMPORTANT!
Take care, take action and be relentless…
More Profit Less Time Pty Ltd
Profit facilitator, Author, Business and Executive Coach, Trainer, Professional Speaker
Certified Business Coach, Certified NLP Practitioner, Certified Guerrilla Marketing Practitioner
Diploma of Management, Diploma of Human Resources Management
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