Why you need a business plan

Having a brilliant business idea is not enough. You need to prove to yourself
and others that you have a plan to transform that idea into a successful
business. Can you imagine building a house without a plan? Although it’s not
impossible, building anything without a plan will surely lead to avoidable
mistakes, higher costs, wasted time, lots of stress and regrets.
One of the main advantages of a business plan is that it increases your chances
of attracting funding. If you’re looking for a loan or investment to start and fund
your business, you need to have a business plan. If you want to attract funding
from an NGO or crowd-funding platform, you’ll still need a business plan.
Why banks and investors insist a business plan
Business always involves risk and anybody who wants to give you capital (like
banks, investors, partners etc.) is taking a big risk. And because these people
don’t know your idea as well as you do, a business plan is the only thing that
allows them to get into your head and better understand your idea.
Banks and investors are not gamblers. They won’t just give you their money
and hope your business becomes successful and turns a profit. No, they prefer
to take calculated risks. And one of the most effective ways to understand and
calculate the risks in your business idea is to look at your business plan.
If a bank or investor had to consider applications for funding from several
entrepreneurs, a business plan would surely be an advantage for those who
have it.
Not just about the money
Even if you already have the money to start your business, you still need a plan.
Remember the thing I said earlier about building a house without a plan? A
business plan makes you more organized and better prepared for the
challenging journey ahead of you. It helps you to critically analyse and structure
your business idea. Above all, it will be the compass that increases your chance
of success.
How to write a plan
Every entrepreneur need a business plan but only few can write one. Following
are three ways of writing a good business plan.
Use a template or sample plan – By using a template or sample of a business
plan that looks like something you want, you’ll end up saving a lot of time and
energy compared to starting from scratch. If you don’t like reinventing the
wheel, this option is for you. The only snag is that your plan may end up looking
like somebody else’s. This is not for people who want a business plan that
stands out and is completely unique.
Use business plan software – The right business plan software can be a huge
blessing for those who don’t have the creative skills to design attractive plans,
or the financial skills to prepare all the financial reports that make business
plans a nightmare.
Hire a plan writer – For those who can afford it, this option will save you a lot
of time and effort. All you have to do is give the writer an idea of the kind of
business you’re trying to create and all the information he/she needs to develop
a professional business plan for you. If you’re too busy, don’t have time to
write a business plan by yourself or just want a professional touch, this option
would definitely work best for you.

Gud write up.....I believe it will open the eyes of some prospective businessmen

Ya

@smile so r u a plan writer?

Hahaha don't mend him

Hahaha don't mind him

Lolz, correction