Wednesday, September 3, 2008

Why do you need a Business Plan ?

There has been always a question in an Entrepreneurs mind that " Do I need a plan ? ". My answer is simple - Yes you need it . And these are reasons why you need it ?

Planning helps to focus and set the priorities right . Often, we find that startups gets overwhelmed, with issues popping one after another . That is where we need a plan, to keep ourselves focused and not get carried away.

Here is how a business plan helps

1. Creates focus in your mind .
2. Helps to define priorities
3. Take rational decision
4. Present the Business to different stakeholders
5. Have the grip in the Cash Flow of the Business
6. Rope in partners, investors , critical employees

Yes .. you need a plan in this complex economic structure of the globalized world to make your business successful .

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