Another reason for a business plan
Another reason for a business plan
The objective with a business plan is, among other things, to describe, identify and plan the business venture in detail – from the business opportunities, activities, legal structure, organizational structure, market, vision, mission, suppliers, marketing plan, financial planning and forecasts etc. etc. Focus is placed a lot on the product and the opportunities in the market – as well as the financial forecasts.
Unfortunately, too many business owners start their businesses without giving a second thought to the potential pitfalls (the inherent risks of the business venture) in the business plan! This is a part which is often neglected.
In other words, little or no attention is paid to the potential business risks – i.e. ANYTHING that has the power to eat your profits, i.e. any event, action, decision, lack of action or decision as well as any circumstance in- or outside of your business that causes or could cause PROFIT EROSION. Business risk is a generic term for the many causes/factors/threats that have been identified thus far as reasons for business failure - no matter whether these causes were of strategic, operational, financial or legal nature.
Regardless of whether you already operate a business or plan to start one, you will be in a better position to obtain venture capital for your business by developing a business plan in which you can show the bank or venture capitalist that you have identified your business risks and how you are planning to deal with it in order to grow.
This will prove to them that you are not only dreaming about business success, but that you are standing with both feet on solid ground by acknowledging the fact that you do face risks and that you have planned to deal with it.
In other words, that you have identified countermeasures to protect their investment capital and your profits against the negative financial impact of the business risks you are facing.
For this reason we have decided to assist small and medium business owners in profiting from their business risks TOO (i.e. by preventing profit loss) - by helping them change their patterns of thought. They need to change the way they are thinking about and dealing with their business risks, threatening their businesses' existence, future and growth! It must be done at strategic, operational, financial and legal level.
Let me know what you are thinking about this!
Another reason for a business plan - To learn more about this author, visit Michiel Jonker's Website.
Like this article? Share it with your friends
It is logical, and a standard practice, for an entrepreneur to develop a business plan for his/her new business venture. As a matter of fact, it is impossible to obtain venture capital or a loan from the bank without a business plan – over and above the clear benefits of performing pro-active business planning.
The objective with a business plan is, among other things, to describe, identify and plan the business venture in detail – from the business opportunities, activities, legal structure, organizational structure, market, vision, mission, suppliers, marketing plan, financial planning and forecasts etc. etc. Focus is placed a lot on the product and the opportunities in the market – as well as the financial forecasts.
Unfortunately, too many business owners start their businesses without giving a second thought to the potential pitfalls (the inherent risks of the business venture) in the business plan! This is a part which is often neglected.
In other words, little or no attention is paid to the potential business risks – i.e. ANYTHING that has the power to eat your profits, i.e. any event, action, decision, lack of action or decision as well as any circumstance in- or outside of your business that causes or could cause PROFIT EROSION. Business risk is a generic term for the many causes/factors/threats that have been identified thus far as reasons for business failure - no matter whether these causes were of strategic, operational, financial or legal nature.
Regardless of whether you already operate a business or plan to start one, you will be in a better position to obtain venture capital for your business by developing a business plan in which you can show the bank or venture capitalist that you have identified your business risks and how you are planning to deal with it in order to grow.
This will prove to them that you are not only dreaming about business success, but that you are standing with both feet on solid ground by acknowledging the fact that you do face risks and that you have planned to deal with it.
In other words, that you have identified countermeasures to protect their investment capital and your profits against the negative financial impact of the business risks you are facing.
For this reason we have decided to assist small and medium business owners in profiting from their business risks TOO (i.e. by preventing profit loss) - by helping them change their patterns of thought. They need to change the way they are thinking about and dealing with their business risks, threatening their businesses' existence, future and growth! It must be done at strategic, operational, financial and legal level.
Let me know what you are thinking about this!
Another reason for a business plan - To learn more about this author, visit Michiel Jonker's Website.
Like this article? Share it with your friends
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