Reasons for Completing Plans

Wrong Reasons for Developing a Business Plan
Some of the reasons that can be wrong for developing a business plan include the following:

• You create a plan because it is something to do.
• You create a plan because you know your competitors have one.
• You develop a plan because your accountant has said so - even though it is not advisable for you to do so at this stage.
• You develop a plan because someone at the seminar you attended suggested you should have one.
• You develop a plan because your finance consultant has said that you will not be able to get finance without one.
• You develop a plan because your neighbour has offered to put one together for you for $100.00.
• You develop a plan to give a copy to all your employees so they know what is going on in the business.

Most of these are the wrong reasons to consider putting together a business plan.

Right Reasons for Developing a Business Plan
There are more right reasons than wrong reasons for developing a business plan fo...