You need to be realistic when planning & budgeting your business
Money runs the world - and your business. If the flow of money suddenly stops, so does the growth of your business. We know that your business idea is very important to you and that you have high hopes and will work hard to be successful. To succeed, besides passion you will need a sense of reality in terms of turning your business into a success.
Even if there won’t not be other employees besides you in the company and a plan might not seem relevant to you, it’s still a very good idea to have one. It will help you maintain focus and make it a whole lot easier when you approach a bank or an investor. Therefore, we suggest that you create your business plan and your budget in writing.
Planning will give your business idea wings!
In a 2014 study from Washington University data showed that 64% of the surveyed business owners with a business plan subsequently grew their business. In comparison, just 43% of those with no business plan could say the same.*