3390 Shares

Do i need a business plan?

Do i need a business plan? Topic: Good business planning
July 17, 2019 / By Wat
Question: Im trying to start my own business. I do not see myself asking for money anytime soon from banks, so do I sitll need a business plan? The business is still int the planning stages and have not been created yet, so I do not have any finance information to put on a plan. Do I still need to write a business plan? Or can I just have a document that "plans" how I am going to start the business off?
Best Answer

Best Answers: Do i need a business plan?

Sachie Sachie | 9 days ago
Well, a business plan is like an outline of how it's all going to work out. If you don't need to borrow money upfront, then no, technically you don't need a business plan. But it's wise to have the steps outlined in case you run into any snags along the way. Good luck to you
👍 106 | 👎 9
Did you like the answer? Do i need a business plan? Share with your friends

We found more questions related to the topic: Good business planning


Sachie Originally Answered: Where do i start with opening a business eg. how to write a business plan , is there any free help out there?
SCORE is a national non-profit staffed by volunteers retired executives. They provide free assistance & counseling to aspiring entrepreneurs. These include the business plan, cash flow projections, raising capital, licensing, insurance, legal, marketing and promotion, inventory and supply chain advice. They also have templates of business plans and cash flow, revenue projections on their website. These are in MS-excel format, and are free to download and use. Contact your local SCORE office to set up an appointment at no charge and no obligation. www.score.org.
Sachie Originally Answered: Where do i start with opening a business eg. how to write a business plan , is there any free help out there?
There are many businesses that opened and ran for years without a written business plan. That being said, you really should have a written plan for your business at some point soon. The more important thing is that you understand and comply with all the legal requirements for your business (license, taxes, permits, etc.) prior to doing business. Failing to start with all your legal ducks in a row is very likely to cause you problems down the road.
Sachie Originally Answered: Where do i start with opening a business eg. how to write a business plan , is there any free help out there?
Its not easy as im still in this process of starting one that is computer repair shop and no i don't have college degree for if you can pass A+ then that is more then enough but a degree will help in cases but in these times of life its hard to do that now, SCORE and other places offer help to ppl like us and will help in finical help to and writing plans and any other little things you need help with as most of these ppl are retired business owners and know how the process is. You need to hunt for local ppl in your area to help you get started in the process in your area.

Murdoch Murdoch
Writing a business plan is an important step to starting your adventure. However, the content of your plan depends on the data that you have and the readers of this document: bank, business angels, government organization, ... You can see the video bellow that address the nuts and bolts detail of what is important in a business plan and how write it: http://www.economiatube.com/2013/04/how-to-create-successful-business-plan.html
👍 30 | 👎 8

Murdoch Originally Answered: How to make a business plan? and how to start a business?
Check out these websites http://www.business-plan.com/outline.htm... http://articles.bplans.com/category/writ... http://www.sba.gov/smallbusinessplanner/... To start a business all you need is an idea that can be profitable and serve the community in whatever way possible. You get the start up money by either a loan or your own money, you buy the equipment, supplies, etc to run the business. You find customers for your product, they purchase it, you make a profit, and you have to make sure they keep as a happy loyal customer.
Murdoch Originally Answered: How to make a business plan? and how to start a business?
you can go through these links to learn more and improve you business http://beginfrom.blogspot.com/2010/02/hotel-business-where-to-begin-from.html http://beginfrom.blogspot.com/2010/02/start-internet-cafe-where-to-beginfrom.html http://beginfrom.blogspot.com/2010/02/home-based-business-where-to-begin-from.html all the best

If you have your own answer to the question good business planning, then you can write your own version, using the form below for an extended answer.