Tulisan 9
Top 10 Business Plan Tips
While many business owners
recognize that a business plan is
important, they don’t often realize just how important it is. While having a
business plan cannot guarantee success, for some businesses it can make the difference
between success and failure.
To make sure that you get the
most out of your business plan, here is a Top 10 list of business plan tips
that can help you determine the real value of a comprehensive business plan. In
some cases, a condensed version of a solid business plan is all that you'll
need. For start-ups, however, a solid
business plan can help build the foundation for a successful
future.
- The bottom line of business is to make money. Business plans are designed to help express this purpose in financial and analytic ways, and to show prospective business partners and investors how their money will be spent and when to expect a return on their investment. If convincing investors is a necessary part of the success of your businesses, don’t skimp on this essential element.
- Well-written plans can help forecast future financial needs. While nothing is certain, knowing at least where to take your business for it to be successful is a good start in the right direction.
- Resources, especially when economies are tight, may be few and far between. Knowing how best to spend scarce resources is important for the longevity of any business. Business plans can help to outline essential spending needs when money is tight.
- Poor planning often causes the death of many great ideas. In order to ensure that your business ideas do not result in failure, a business plan can help keep a business on target and ensure that you're spending money efficiently to keep things moving. A business plan can also help you delineate ideas and work through some of the potential pitfalls before you or others make big investments of time and money.
- For start-ups, a business plan is absolutely necessary. Most funding sources won’t even consider making an investment these days without one. The reasons for this are clear – businesses that take the time to build a solid business plan are more apt to stay on target and spend wisely while money is tight as the business grows. There is plenty of time later for fancy upgrades and improvements; when starting out, it is best to think small and grow large.
- While a business plan may be a necessary component of success for many businesses, don’t think of it as only a one-time affair. Business plans should be re-addressed annually and updated based on new circumstances and fiscal realities. Using a business plan as an organizational road map helps ensure long-term business success and keep leaders focused on the mission, goals and long-term growth goals of the business.
- A comprehensive business plan includes marketing projections. Research data can help leaders identify and focus on target markets and the best ways to reach them. Businesses should keep a keen eye on demographic changes and update their business plans regularly to keep up with changes.
- A business plan can help to channel resources, in terms of both time and money. This focused direction helps ensure success by helping leaders capitalize on expenses to meet long-term goals.
- Don’t forget to consider a business plan as an indispensible business tool for future product and service plans. Business plans help leaders stay focused on the best decisions for today, tomorrow and well into the future.
- Having a formal business plan says a lot about how seriously a company takes its business. For investors, consumers and potential business partners, this means that business leaders recognize the company's potential for success and are serious about fostering an environment that will help it to grow. Consider these players when developing a business plan for a complete and rounded business approach.
Whether your company sells
products, services or both will determine to what extent you will need to build
and maintain a business plan. The type of business products or services you
provide will also determine how your plan is structured and how much content it
should include.
In general, a good business plan
will not succeed or fail based on the information provided in a business plan;
however, a business plan can help ideas, products and services become
successful through focused planning and forethought.
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