A Question For All Business Owners And Future Business Owers

[Chase Bannon]

Is it neccessary to write a business plan for a start-up business if you aren't looking for investors or a loan? If you think or not, please tell me why.

Thanks

 

[BRUHA]

I always think that plans and goals should be committed to paper. Just my opinion. One of the quotes that always comes to mind is..."How can a man hit a target that he cannot see?" Personally I feel that goals are easier to achieve when I have them written down.

 

[Bladeex1]

A plan helps keeps you focused and on task as you get into your business. A business paln helps you better define the core business that you are in and how to best approach it.

 

[Pharaoh]

Is it neccessary to write a business plan for a start-up business if you aren't looking for investors or a loan? If you think or not, please tell me why.

Thanks

You will get a lot of different responses to this, but I would say, No - however, you do need an operational or tactical plan depending upon the stage you are at. You need to identify in writing very clearly the goals and objectives of the project, how you plan to meet them and your contingency if you are unable to meet your goals. Phases should include at the least, planning, development, and implementation/deployment with milestones/timeline and ultimately an exit strategy.

If you have access to MS Word and Project, use them in conjunction. Business plans as SBA or similar group would define may work if you are seeking funding, but they are hardly operational plans with real-world application.

 

[Chase Bannon]

Thanks for all the input. I was thinking on the lines with Pharaoh. I figured if I

• set goals
• figure out my start-up, materials, advertising costs
• set expectations
• do a break even analysis
• and study the market

everything would be fine. I've finished writing one business and that took forever. The one thing I learned is you tend to repeat yourself over and over in a business plan. All in all I'm too lazy to write another business plan unless I need a loan or investors.

 

[nittie]

If you aren't looking for a loan or an investor you don't need a business plan, you do need a mission statement that outlines your goal an creates an identity for your project. The idea is to make what you put on paper manifest itself as a real asset.

 

[Word]

I was hype until you said im too lazy to write one. This yo business you too lazy to become successful? Dont sell yourself short. I say still get a plan in place. Rather you call it a mission statement, a goal sheet, that one paper Do it and follow it.

Thanks for all the input. I was thinking on the lines with Pharaoh. I figured if I

• set goals
• figure out my start-up, materials, advertising costs
• set expectations
• do a break even analysis
• and study the market

everything would be fine. I've finished writing one business and that took forever. The one thing I learned is you tend to repeat yourself over and over in a business plan. All in all I'm too lazy to write another business plan unless I need a loan or investors.

 

[Temujin]

You are right a business plan is more for others. Like pharoh said however the organization needs to have their own strategic plan modified yearly. I have found strategic plans are extremelly helpful in making sure everyone in managment is on the same page and understands what we are trying to do and why.

 

[Adam Knows]

Is it neccessary to write a business plan for a start-up business if you aren't looking for investors or a loan? If you think or not, please tell me why.

Thanks

it should be a requirement that a business plan is created whether your looking for investors or not.

if anything the plan is a blueprint on how to go about with the business, so your not forgetting and backtracking vital steps.

 

[Chase Bannon]

I was hype until you said im too lazy to write one. This yo business you too lazy to become successful? Dont sell yourself short. I say still get a plan in place. Rather you call it a mission statement, a goal sheet, that one paper Do it and follow it.

I'm too lazy because it is repetitive writing. I wouldn't be too lazy to do it if I needed a loan. I've written one plan because I may need a loan for it.

 

[Chase Bannon]

it should be a requirement that a business plan is created whether your looking for investors or not.

if anything the plan is a blueprint on how to go about with the business, so your not forgetting and backtracking vital steps.

I see what you are saying but in certain part of a business plan I'm repeating what I said in other parts of the plan. I guessing stating the same fact in a business plan is for convincing investors about your plan. I don't feel I need to convince myself. I figured I just need goals and financial break downs.