Do you belive that Getting a business plan or capital should come first or not

[Ramolak19]

what is your opinion do you think getting the capital or business plan will be the first or not because there are some mistake that raise up when comes to starting a new business, some people would find it difficult to raise a capital while others did not have ability to plan or strategies on a new business idea

Business plan is a processes of guarder some useful information about new business which also include a working capital itself. If we failed in this process there is certainty that the business may not venture the way we want.

What are the disadvantage of wrong business plan or idea

Lack of business idea or plan would hold some benefits to reach out to the business.

It may not allow the business to have long term span.

It would not allow the business growth.

The business might not be able to expand the business in nearest future.

Much time could be spent on business analysis.

There would be lack of accountability.

Those are the little disadvantage of not having business plan before stating a business and while capital should be among the business plan.

 

[Ajebo25]

If you ask me I think the best way by which you can start a business is by first starting with the business plan the business plan will let you know the type of business which you want to start and where you want to start it how you want to sell to your customers and how you will be able to market your products but also I think you should always consider the can better if you want to start a business because a capital matters a lot it is what will help you in order to start your business without capital you won't be able to start your business and they are also factors which you must consider if you want to start a business like location you must really consider your location if you want to start a business if not your customers won't be able to find you when you are saving for starting the business he must also save money in order to market your business like money to buy banners in order to advertise your business or money in order to pay websites to advertise your products in order for you to get more customers

 

[funmi]

To me, getting a business plan is actually better than and it is even the best idea to get first before you start looking for the capital to finance it. In everything we do, or we want to do, good planning is very important as that is what we will walk on when the finance come in place.
Getting a business plan is very important when trying to work on starting a business because when ever anybody fail to plan, definately, the person is planning to fail. When you plan a business, you tend to have a fore sight on how to make it work well. But in a situation whereby you are looking for a capital first, you may not use the money to do what you intend using it for.

 

[eldavis]

For me, when starting a business, I believe getting a business plan should come first before the capital. How do you know much capital you need for the business if there is no from of plan on what you want to do and how you want to go about it? Another aspect to consider is having the money on ground before a plan could also lead to spending it on the wrong things or ideas before actually making up your mind to do a particular thing.

 

[libertasbella]

I've seen too many people spend thousands on business education only to have no idea what they should do. I think it's better to work hard and let the business plan construct itself after you've sorted out what works and what doesn't through (some) trial and error.

 

[blessingc]

Starting up a business has always required a capital, you can be a business owner I purchase stuffs to start a business or tools to start delivering services to customers without having the money called capital to start it, or to buy those.

Now, not only is business capital important, business plan is also part of it. Your business capital infact is inside your business plan, before starting a business, you have thought of it, you have considered the nature of business, where you wish to start it, how you wish to start it and your aim if starting it; all these are in your business plan, you need to out them down into a documenand make it one of your business assets incase of investors and as a guide to help your in your business journey. You need a good business plan and capital as the things to start up a business, the amount of capital you have determines the kind of business you start and how you start it.

The only kinds of business I know doesn't need capital and business plan is online businesses, working for sites, working for clients online doesn't requires anything more than your smart phone and a PC if possible.​

 

[Ayuba Ernest]

Due to the fact that this question is dependent on the company and what they are attempting to achieve, there is no one correct answer. When making this decision, there are a couple of things to keep in mind:

A business plan is a written document that details the objectives and strategies of a company's operations and growth. This document also includes financial information, such as your start-up costs and projected earnings. In order to secure funding from investors or banks, you must first develop a business plan.

Because some businesses may require capital to get started, entrepreneurs will need to prioritize securing funding before beginning the process of creating their business plans. Another type of business may be able to get off the ground with only a business plan, and once the business is up and running, it can concentrate on fundraising.

In both cases, there are advantages and disadvantages. Businesses benefit from having a business plan because it provides them with a road map to follow and can help them stay on track and profitable.