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Health & Fitness

6 Reasons Why You Need a Business Plan

6 Reasons Why You Need a Business Plan

 “About the only one who doesn't need a business plan is someone who's not going into business", says Tim Berry.  

If I could only write one blog, this would be it.  Any questions or issues you face in your business all start here.  It doesn't matter if it is "just a hobby" or not.  It doesn't matter if you have opened yet, or been in business for 10 years.  Every business needs a current business plan.  You can do it yourself, you can have someone do the whole thing for you, or you can work with someone who will guide you through the process to create a plan that clearly reflects your vision.  I recommend the last option, because doing it yourself can be extremely time consuming, confusing, and stressful and having someone do it for you can be costly and more importantly may not reflect your vision as only can. 

 6 Reasons Why You Need a Business Plan:

  1. The number one reason why small businesses fail is lack of planning.
  2. Goals, such as increasing sales, improving HR, marketing, etc. can be identified along with strategies to attain them.
  3. All business related decisions will be easier to make regarding hiring, products, locations selection, budget setting and all other aspects of your business.
  4. If you are ever interested in borrowing money from a bank or  investors, you must have a well written business plan.
  5. You will gain greater confidence as a professional business owner and professional  credibility with others.
  6. The process of researching your the minute details of your business and committing it to paper is invaluable in and of itself.

 

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Of course, these are six of many reasons why you should have a business plan at every step of the way.  If you would like more information please email me at kbleckey@gmail.com.

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