You need to be realistic when business planning & budgeting
Money makes the world - and your business - go around, and if the flow of money suddenly ceases, so does the growth of your business. Now, we know that your business idea is your baby and that you have high hopes and will work hard to succeed. But, just as your dedication is really important to make it happen, so is your sense of reality in terms of turning your business into a success. Even if you are only you in your company and a plan might not seem relevant to you, it’s still a very good idea to have one in place. It will help you maintain focus and make it a whole lot easier when you approach a bank or an investor and that’s why we suggest you need to put down in writing your business plan and your budget.
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.*