However, inadequate planning has been Job Function Email List the reason so many businesses fail, and the rate at which they fail is overwhelming. It is usually believed that most businesses fail in their first year of operation and among those that fail, 80% of them do not have a well Job Function Email List researched plan. It has been observed that business failure is not only connected with small businesses alone which I chose not mention here, go down too Job Function Email List. Though the rate of failure is highly significant in small businesses, and it is Job Function Email List the main reason why a good business plan is needed.
Probably for raising additional Job Function Email List cash and to provide potential investors and lenders with the information required to make investment decisions. This makes Job Function Email List developing a business plan extremely important. One's business plan has to stand out and his projection has to be firm due to higher competition in attracting Job Function Email List funding for his business. Investors no longer risk their money on businesses that do not prove to have great potentials for them.
A business plan is like a road Job Function Email List map, it shows one the route to take, the pitfalls to avoid in order to reach his destination, For instance, if one decides to travel by road from one place to another, he would first need a road map that shows him the route to take Job Function Email List. He will need to determine the distance and how much gas his car will need to take him to his destination. Moreover, he will need to calculate how much the journey will cost him, if he intends to raise money, if he's borrowing, how he intends to refund the Job Function Email List money. Putting all this into consideration, he now has a traveling plan that will take him to his destination. In the same vein, that's what a business plan provides one with, the strategies, the route, and a road map to success.