Most entrepreneurs would rather have someone experienced write them a business plan because they sometimes don't even know where to start considering they have only been doing it the informal way or that they know about product creation and not really the administration processes involved. For a professional to write it is not a bad idea because they would look deeper into what should be taken into consideration when writing a plan and giving it that professional look.
But, I have to admit that I have seen a few with exaggerated projections which far surpasses the norms and statistics that are published. Whether it be the size of the market or their income levels, competition, spending patterns or willingness to buy at particular prices.
If an entrepreneur really wants to understand the characteristics of the market and dynamics of their own businesses, it is important that they are involved in the planning process of their ventures. It is either that or one ends up presenting something that they are clueless about or contradicting what is written on their behalf, on their plan.
A business I believe, is about a person and his or her aspirations and ambitions. It can come from a hobby or something close to one's heart. It is therefore important to pour your heart out and be guided in the right direction by the experts, not to have them write everything for you.
Most consulting companies assigned responsibilities to develop a business plan for a startup of inexperienced group of people or individuals would achieve a lot by engaging the entrepreneurs in the planning process of their businesses and have them share their ideas and input in their businesses and the responsibility that they will have of repaying the loan amount eventually. Their knowledge and experience would thus be revised and alternative measures introduced to enable them to successfully run their businesses.
That to me, is a recipe for success...
But, I have to admit that I have seen a few with exaggerated projections which far surpasses the norms and statistics that are published. Whether it be the size of the market or their income levels, competition, spending patterns or willingness to buy at particular prices.
If an entrepreneur really wants to understand the characteristics of the market and dynamics of their own businesses, it is important that they are involved in the planning process of their ventures. It is either that or one ends up presenting something that they are clueless about or contradicting what is written on their behalf, on their plan.
A business I believe, is about a person and his or her aspirations and ambitions. It can come from a hobby or something close to one's heart. It is therefore important to pour your heart out and be guided in the right direction by the experts, not to have them write everything for you.
Most consulting companies assigned responsibilities to develop a business plan for a startup of inexperienced group of people or individuals would achieve a lot by engaging the entrepreneurs in the planning process of their businesses and have them share their ideas and input in their businesses and the responsibility that they will have of repaying the loan amount eventually. Their knowledge and experience would thus be revised and alternative measures introduced to enable them to successfully run their businesses.
That to me, is a recipe for success...
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