Business Plans – An Outline
by Matthew Tibble
Writing a business plan is a fundamental step to ensuring your business has every chance of succeeding. Common statistics state that 9 out of 10 businesses fail on the first 5 years of operation, and of the remaining 10%, 90% fail in the following 5 years. Why? There may be a number of reasons – from poor customer service, inadequate product, poor logistics management and cost control. However, the number of businesses that do not define their goals and map out their path to success is phenomenal. Taking the step to define your business goals, plan where you want to go and what you want to achieve will place you in an increased position of future success and realisation of your dreams.
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Writing a business plan is a fundamental step to ensuring your business has every chance of succeeding. Common statistics state that 9 out of 10 businesses fail on the first 5 years of operation, and of the remaining 10%, 90% fail in the following 5 years. Why? There may be a number of reasons – from poor customer service, inadequate product, poor logistics management and cost control. However, the number of businesses that do not define their goals and map out their path to success is phenomenal. Taking the step to define your business goals, plan where you want to go and what you want to achieve will place you in an increased position of future success and realisation of your dreams.
» read more
