Between backup plan and business plan, which is more important

[Samuel72]

It is said that every standard business need a business plan and this business plan is one of the most important thing in business. Many people also talk about backup plan, that backup plan is also very important in business. My question here is that which is more important backup plan or business plan

Please state your opinion on this

 

[Maven Tiger]

A backup plan is very much different from a business plan. A business plan is more important as it is a necessity to make a business plan before making a backup plan. A business plan is blue print of how a business will be managed and it's based on carefully studied analysis having considered all available resources and the market.

 

[btaliat]

Business plan is more important. When you focus too much or you give too much importance to your back up plan, you may not have the zeal to make your business plan since you are conscious of your backup plans. Although, like you said, it is important to have backups plan but much hope should not be put on it to avoid disattraction

 

[Alexandoy]

A business plan is all about the entirety of the business while a backup plan is what we call Plan B. The usual content of Plan B are the possible contingent actions when the original plan goes wrong. However, I have yet to see a backup plan or Plan B because we usually do that in parts only and not in the entirety like a Business Plan.

 

[sincerem]

Both are instrumental, when making plans, we should always consider the backup plans, and have the business. The backup plans will help save the business when unforseen or uncertainty rock the business. With the business plan, we plan ahead for the success of our business with better strategies of driving an income flowing business. If we can't go with the two plans, the business will face difficulty to progress for long time.

 

[Jasz]

Both a backup plan and a business plan are important for the success of a business. A business plan is a document that outlines the goals, strategies, and actions that a business will take to achieve its objectives. It can help a business to clearly define its target market, establish a marketing plan, and plan its finances. A backup plan, on the other hand, is a plan that outlines what a business will do in the event of an unforeseen problem or crisis.

It is generally important to have both a business plan and a backup plan in place to ensure the success and resilience of a business. A business plan helps to guide the day-to-day operations of a business and ensure that it is on track to meet its goals, while a backup plan helps to protect a business in the event of an unexpected problem or crisis. In general, it is advisable for businesses to periodically review and update both their business plan and their backup plan to ensure that they are still relevant and effective.

 

[IB D]

The two of them are two different things that serve different purposes. One is not more important than the other. All of them work together to help the Business avchieve a common goal of increased productivity and profitability. You dont have to prioritize one over the other. You must have the two of them.