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Five reasons for writing a business plan

You already know the obvious reasons, but there are so many other good reasons to create a business plan that many business owners don't know about. , the staff of Entrepreneur Media offer an in-depth understanding of what’s essential to any business plan, what’s appropriate for your venture, and what it takes to ensure success. A client of mine recently asked my opinion concerning one of his own clients, a medium-sized business struggling with shrinking revenues.

Five reasons for writing a business plan

Five reasons for writing a business plan

Yeah, so how are you supposed to write a three-year projection with a straht face? When I am asked to explain why business planning is so important, my first inclination is to quote Lewis Carroll.

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  • When I asked what they were doing to turn the situation around, he explained: "Well, two years ago they hired a management consultant to help them write a 90-page business plan. Last month they wrote a 'rescue plan' to get their orinal back on track." The moment I heard "90-page business plan," I knew what was wrong.


    Five reasons for writing a business plan

    Five reasons for writing a business plan

    Five reasons for writing a business plan

    The business plan is the blueprint for your business. Business plans are documents used for planning out specific details about your business.

    Five reasons for writing a business plan

    Careful academic research on the business start-up process reveals that many entrepreneurs never write a business plan. HOMEWORK FOR PRE KINDER Now, you could say that is the reason why a lot of my businesses failed, but I could make the argument that financially I’ve still come ahead.


    Five reasons for writing a business plan:

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