Why A Business Plan Might Be The Only Solution To Your Business

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Why A Business Plan Might Be The Only Solution To Your Business

If you fail to plan, your failure has just begun. Every boss, business owner, MD, CEO, Religious Leader, etc, knows that when they wake up in the morning and set out to work without planning what to do for the day and what to achieve, have wasted the entire day even without starting it at all.


Do you know that you can't achieve your goal for the year if your goal for the day is hard to accomplish?

This is the very reason most businesses don't succeed. In a nutshell, a business plan is an information contained in a paper that tells you the Genesis to Revelation of your business. If you ever need a business seer, your business plan is one, because everything you hope to do has been analyzed, forecasted, and backed up with facts and figures. This is why some  consultants will charge you high for a business plan. In some cases, the charges are  worth the job.

For instance, I did a business plan for a client sometime ago on a Soft Drink Business in a location popularly known as Sango Ota, in Ogun State, which shares boundary with Lagos. And to show how viable the business will be, I had to do researches on each of the products she wants to sell, do findings on the number of drinks consumed each day, the kind of drinks mostly consumed, age range of major consumers, target location, where the products sell the most, the population of the people in the environment, and the buying ratio for each day.

The effect of these data findings, researches and data analysis is to prove logically and beyond reasonable doubt why and how the business can thrive without the fear of failure. The business owner can confidently venture into it, having understood the game well. This case puts them in a position of winning and of success.

Unfortunately, most businesses fail for lack of applying this same method. Most businesses begin on a basis of trial and error. Lack of planning and business plan has cost people more than you can ever imagine. Hence the need for a business plan.

So, here is my advice. If you ever fee stuck in your business, or you feel the business is not moving at the speed you desire, then go back to the board, check your business plan. Your answer or at least a step to your solution is somewhere inside the business plan.

And if you don't have a business plan, contact me to write one for you. Wise people pay attention to little details, and invest in the right things.


...turning your value into wealth through strategic thinking, strategic planning and strategic implementation.
Location: Lagos, Nigeria

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