Running a business without a business plan is like rock climbing blindfolded. Your chances of making it successfully to the top are slim. And the process will surely be a death-defying one.
A business plan is a step-by-step guide to running your business and creating a product or service that will make it successful in the marketplace. Your business plan should be:
- Adjusted periodically depending on opportunities in the marketplace, the current health of your business etc.
- Formal or informal (it does not matter so long as there is a plan).
A business plan minimises risks and surprises. Consider the following for inclusion in your business plan:
A documented plan:
- Helps you determine and coordinate all aspects of business operations,
- Gives you a means to analyse and determine what might be the best change to boost your business out of a stagnant situation,
- Assists you in determining the risks and benefits associated with any changes,
- Decreases your chances of making a mistake or not considering important factors in your business,
- Increases your chances of success,
Need help with your Business Plan? Contact us and we can help.