Results of abiding by your business plan.

[Axis]

In establishing a successful business it is totally advised that a business owner or an individual intending to establish business develop a business plan. It is important to note that developing a business plan must be done after an individual have had a business idea which must have been passed through proper and adequate feasibility study and analysis in order to ensure that such business idea is going to be successful. After developing a viable or potential successful business idea the next step is to develop a business plan to capitalize on such business idea.

It is important that business owners abide by their business plan because it provides them with a sense of direction it also provide a bag of tools such as (missions statement, goals, objectives, strategies, financial forcast, market analysis etc). Abiding by your business plan helps you to estimate your business future and also develops a strategy for success, in the case of financial funds shortage your business planning can help you with areas and strategies to source for funds so that you do not run out of business.

 

[Mikes smithen]

The business plan of a particular business organization serves as a guideline for both the business owner and employees working inside a business organization. On no account should an employee or business owner carry out business activities outside what is plan for the business as documented in the business plan. For a business to grow and develop as expected and as planned it is expected for the business plan to be the guide which the business organization carries out its activities upon.

A business plan is basically a written document that summarizes business opportunities and also articulate and explains the ways in which this opportunities can be seized and exploited by the organization itself.