A curious comparison – running a business without a business plan is like driving a car in a foreign country without a map; how many drivers will manage to get to the destination without losing time, wasting unnecessary resources and abandoning hope to ever arrive there? Only one out of many cases would succeed relying on a pure luck, but if it is possible to avoid unnecessary challenges, why then to allow them?
In any circumstances we all have to plan before we do, and planning is based on analysis. Planning a business is achieved though the research of a business opportunity and working out the proper idea to insert into the existent environment, after what it is important to define the methods for this idea and opportunity realization. Risk is inevitable in entrepreneurial process, and we have to be aware of its existence; it is crucial to develop the ability to limit and manage it, even when undesired situations occur unexpectedly. It is exactly a careful plan that is able to be a solid foundation for a profound understanding of the existent environment, resulting in working out diverse scenarios for different future development opportunities.
The business plan reveals required skills and knowledge, expertise, equipment and technologies, as well as financial forecast and the necessary starting capital for a company to conduct a business activity; identifying the goals and objectives, as well as methods to achieve them, a business plan turns into the venture’s key element: it attracts, it bonds, it projects, it develops the right components in the right combination for the future organization’s operational process. It focuses an entrepreneur and its collaborators’ attention to the business activity peculiarities and core organizational elements. It is important to be open-minded and to be ready to adjust some organizational issues in case the business plan reveals such a necessity and appears to be different from initial intentions. Business plan is one of the most important criteria basing upon which a potential employee and value-added investor will or will not choose the start-up to work with.
Working out a business plan requires much time and efforts, but it often brings different and additional ideas and understandings both to a company leader, its team and potential investors. Marketing plan is crucial for realizing a successful market research and working out the most appropriate marketing campaign in order to ensure that the aim auditory gets acquainted with the company’s offered products and services. Marketing plan reveals the preferences of a particular market, rivals’ behavior and gives a company a deep understanding of what the successful actions are in order to achieve the set goals.
While it is impossible to predict the future scenario in details, the business plan and marketing plan provide an excellent general framework to follow in order to establish and develop a new company.
Business & Marketing Plan and Professional Business Consultants. Realize your plan; don’t just leave it on the paper, otherwise it has no sense. And it is truly important to be sure in your plan’s efficiency in order to start realizing it. And it is exactly the professional consultant plays an important role in your business development.