A quick guide as to why a company needs a well researched business plan.
New businesses should always have a business plan. It is the key to success and one of the most important aspects of starting a new business
Everyone knows the importance of writing a business plan, especially when first starting out in business. Here are six very specific reasons as to why a business plan is essential for your success:
The executive summary is potentially the most important part of your business plan. It's the first section that any investor or lending provider will read, and so it's important you grab their interest make the right the right impression!
Good cash management is vital to business success and in difficult times the very survival of the business can depend on the timing of receipts and payments.
A mission statement is something that is often only associated with larger organisations but it can also can be equally as useful to smaller businesses and start-ups in particular.
Objective setting; It can prove a useful tool in the manager's armoury, helping to provide greater vision throughout the business. If done correctly, the establishing of goals and regular benchmarking provides managers and employees alike with a greater understanding of where they are, as well as where they need to be.
Peak performance is the end all and be all of all life endeavours.
How many hours does a regular professional waste on non-productive activities in an eight-hour work shift?
Memory works on visual cues. It's why people leave objects at the foot of the stairs as a reminder to take them up next time they go, or by the front door so they don't forget them when they go out. So you may find it useful to use an at-a-glance progress chart to keep track of multiple jobs and ensure you don't forget anything.