Kendy
Verified member
Presently, I do not operate any business but prior to this time when I operated a poultry farm, I did not see the need of a business plan. However, I had a logbook, where I made the total analysis right from the purchase, sales, profits and losses. Having a business plan was out of the equation for me because the business was set on a small scale. The business crashed but even till now, I am unsure if this had to do with the negligence of not having a business plan to guide me.
Notably, a business plan reveals the structure of a potential business, the aims, objectives and goals, value, possible expansion, financial evaluation, location, marketing, investors and administration just to say the least. I agree, the essence of a business plan is enormous and it helps to put the business in track while it creates a frame to communicate their vision.
I am still a bit skeptical and I need your opinions or reviews on this matter. Do you think a business plan is the ultimate drive to a successful outcome. Most small scale businesses do not operate following a business plan and they still achieve great results while in some cases, some businesses with even a well mapped out business plan faces decline. What could be the bone of contention and how recommended should a business plan be to entrepreneurs in this 21st century.
Notably, a business plan reveals the structure of a potential business, the aims, objectives and goals, value, possible expansion, financial evaluation, location, marketing, investors and administration just to say the least. I agree, the essence of a business plan is enormous and it helps to put the business in track while it creates a frame to communicate their vision.
I am still a bit skeptical and I need your opinions or reviews on this matter. Do you think a business plan is the ultimate drive to a successful outcome. Most small scale businesses do not operate following a business plan and they still achieve great results while in some cases, some businesses with even a well mapped out business plan faces decline. What could be the bone of contention and how recommended should a business plan be to entrepreneurs in this 21st century.