The business plan is the key ingredient for a successful business and is often ignored. An operations plan must be highly detailed because it is utilised to manage the daily operations of the business, but the aim of the business plan is to provide an overview of your business mission, without being confusing or overly complex,” he says.
Business is commercial activity geared toward creating values and meeting needs it is an adventure full of uncertainties business on itself is a big risk especially when done without adequate planning overtime is has been researched and prove why some people do business and fail while others succeed it has been observed that some people go to business without knowing or applying to their business the basics.
While you can easily learn how to write a business plan yourself, you will still benefit from having someone else read through your plan and you may still need outside assistance, such as a CPA to create your financial documents and/or a market research firm to develop statistics about your markets.
However, if you’re an existing business seeking financing, you’ll want to include income or profit-and-loss statements, a balance sheet that lists your assets and debts, and a cash flow statement that shows how cash comes into and goes out of the company.
One of the important reasons why you should write your business plan your self is that, you may someday want to present your business plan when negotiating for funding from any institutional investor as part of your proposal, if you are not the originator of the plan, it could mean difficulty defending it and could also mean more embarrassing where the writer happens not to be around.