10 Reasons Why We Need a Business Plan [INFOGRAPHIC]

10 Reasons Why We Need a Business Plan

10 Reasons Why We Need a Business Plan

Just as Winston Churchill rightly said, “He who fails to plan is planning to fail,” this is very much applicable to business. Starting a business without a business plan regardless of how detailed is not advisable. It is like building a house without a plan. You have nothing to guide you as you build on.

In our bid to aid you to financial freedom, here are ten benefits of writing a business plan before starting any business.

1. A business plan helps you to secure funds

2. A business plan gives you direction

3. A business plan helps evaluate your performance

4. A business plan helps you monitor your progress

5. A business plan helps you manage organizational and team requirement

6. A business plan helps you plan and manage your cash flow

7. A business plan helps you stay on strategies

8. A business plan helps you identify problems

9. A business plan helps you identify your market and deliver your marketing approach

10. A business plan helps you manage your growth

A business plan is a valuable part of how you start and conduct your business. While all these benefits are significant, it is also important to realize that the benefits, needs, and necessary components of a business plan will also be highly dependent upon the individuality of each business.
I hope with these, you can find reason to go on and start up with your business plan before setting up your business.

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