Club100 | What you need to know about business planning | @abigum
You may be planning to start a new business. Otherwise, you may already be in business. No matter what stage you are in, you need a business plan.
A business plan is a document that describes who you are, what your business is, how it is organized, and what your business goals and objectives are.
Although many businesses start, breakdowns can occur for a variety of reasons in a short period of time, which can take anywhere from 3 to 12 months, with the road leading to more than a year being minimal. There can be many reasons for this - the wrong business idea, the wrong location, limited capital, poor management style, high competition, etc.
A business plan is a written document that is the most important document for the owner or investor to organize the things needed for the success of the business.
Writing a business plan is not a difficult task. If you know the basics of finance and management, you do not need a business consultant to do it.
It should at least describe the product or service, location, target market, market analysis, distribution strategy and marketing strategy. As more details are added to it, users can focus better on the business. A business plan usually consists of a five-year financial plan and a budget. It depends on the duration of your business.
However, if you have a business plan prepared by a professional business consultant, it will be more valid with the reputation of the business consultant,
In addition, when you talk to a professional business consultant, you can gain good business knowledge related to the management of your business.
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Business planning services are provided by many individuals and companies, so be sure to choose a good advisor who has knowledge of the field before preparing your business plan. This is usually done by Chartered Accountants, Management Accountants and academic professionals.
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Thank you @abigum for the way you expantiated business, what it is all about and how it can be built and sustained. Those two documents are fundamental for a business's growth thanks for sharing your content with us 🙏
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Thank You So Much @abigum for enlightening us on what business is and how to create a business plan.
Thank You For Your Compliment @sammylove
THANK YOU FOR SHARING YOUR INTERESTING WRITE-UP WITH US.
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I am planning to start up a business and I am thankful I came across this page that has taught me to make a plan and how to do it. Thank you for sharing.
Thank You For Your Compliment @estyroberts