Business Plan Is

Business Plan Is-17
Another important element in a business plan is that your company’s everyday activities should be linked to its long-term strategies. Strategy documents are often drawn up by senior management, only to be left languishing in a desk drawer.

Another important element in a business plan is that your company’s everyday activities should be linked to its long-term strategies. Strategy documents are often drawn up by senior management, only to be left languishing in a desk drawer.

The difference between ambitions and reality can create conflicts between you as an entrepreneur and your financial partners.

In addition, you may have to explain why changes in business conditions make it smart to diverge from the original plan.

Unfortunately, most businesses do not create their plan before they need to negotiate with banks, investors or public authority support agencies.

This creates two major problems: first, the business plan is usually a set of arguments for the future success of the company.

The justification for longer plan periods is often that bankers and investors want a forecast that shows when they will get their money back.

Unfortunately, these forecasts are often based on failing preconditions.

Instead, you decide what you will have for dinner, and make a list of everything you will need to buy.

Some additional impulse purchases tend to find their way into the shopping trolley, which is normal.

An even bigger problem is that many entrepreneurs follow these plans uncritically, without asking questions like: Has the market changed?

Did the product turn out the way we thought it would?

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