Writing a Business Plan: Why It Is Worth the Time and Effort
Are you thinking about approaching a Bank for finance to support your business? If you haven’t already gone to see the Manager then you may not know that the first thing he will want to see is your Business Plan. Perhaps you are not convinced that all the time and effort needed in preparing a plan is essential; if so then here are the main benefits for both you and your business. 1. No matter how good a communicator you are, you will never be able to convey your vision for the business as successfully as a perfectly put together Business Plan. It provides a clear understanding as to what you want to achieve. It allows you to express your ideas in a clearer manner. 2. Too many times business owners try to sell their idea verbally and at the end of the interview with the Bank the Manager is none the wiser than he was at the start. I think you can guess the outcome of many of those requests! 3. A Business Plan will help convince both you and the Bank of the project’s feasibility and viabi
