Imagine you are about setting out on a journey, probably to a place you have never been before. Maybe you just got admitted to study your dream course in a strange country. What would be the first action you will take? Of course you will have to make a plan of how you will get to your final destination. If you will be picked up at the airport upon your arrival, you would call ahead and ensure your cabbie would be ready ahead of time. Your accommodation would not be left out as you would make adequate reservations for your lodgings, even if it will just be enough for a few days after you arrive.
Most of us will agree with me that an occasion of that magnitude requires careful and meticulous planning.
In general life however, it always amazes me when people set out to go into a business that they have never tried before and there is no adequate planning and preparation for the business.
I know a lot of people reading this article right now will be quick to defend themselves saying that they planned properly before they delved into their line of business. For the purpose of this discourse however, let us critically examine the meaning of planning and see how we can apply it in our business preparation.
"A business plan is a formal statement of
business goals, reasons they are attainable, and
plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals."
From the definition above we can draw out three basic elements that will constitute a proper business plan
1 Written - For a business plan to be applicable to a business, it must first of all be written. A short pen as they say is always better than a long memory, and the fact that it is written will ensure a level of compliance. Irrespective of the size of your enterprise, wether you chose to create a multi billion dollar establishment, or a small scale poultry farm, you must write down your goals and visions for the organisation.
Don't assume you have a business plan because you have a general idea of what your business should look like in your head. Always write it down.
2 Detailed - No details should be spared in writing a business plan. From the number of front desk officers to the colour of paint you will use in the restrooms. The aim of the plan is to create a life sized mental picture of what you want to achieve, and a roadmap you will use in achieving it. The more detailed your business plan is, the better your chances will be of achieving your set targets.
3 Future oriented - the singular fact that it is a plan means that whatever is written down is supposed to be achieved within a time frame. When you are writing a plan, ensure you take into account changes that may occur on a macro economic scale within your period of operation.
For example, you should take into account the trend in the rise and fall of the strong currencies as well as the global benchmark for crude oil sales. All this has a way of affecting your business no matter how small it is.
Haven taken the aforementioned into consideration, why should you prepare a business plan and what are the steps you would have to take to have a successful business plan? We will deal exhaustively with these and more in our follow up posts.
Cheers
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www.hoomadeit.com/2016/03/if-you-do-not-do-this-your-business-may.html?m=1

CrazyMan , 1forall

Good

femimike1:
Good

thank you