When it comes to business plan and planning;
There are multiple questions that may arise in mind that either you should opt for it or not. There are some people who say that a path that is a business plan is very necessary for a business as it can guide you at many different levels. So we can also say that business plan is very necessary if you’re looking for short term and long term goals to be attained because you have something in hand and you can follow it easily. Which plan is basically a guide at your end? But yes everything has got its pros and cons let’s look at what are the advantages and disadvantages for having a business plan and planning.
Well, when we talk about the advantages of a business plan so there are countless advantages for a business plan in planning, let us look at a few.
You can see your business in future years
Business plan planning means you have something in hand that you are going to follow because it is ready made. That this way it will be very easy for you to see the short term and long term goals are either attained or not and are you going to sustain honest in the future. Through the business plan and planning you can see your business in the future years you can see and pretty that what are you going to be after 5 to 10 years.
You know where to invest in your resources
When you have business plan everything is written you would have in earlier that which inventory should you purchase, or which inventory you should sale. Also, you will have any idea about, that which resources to use and not. Since in the business plans, all the financial matters are also made clear, so you will have ideas that which resources are scarce and which are in abundance. This way you are going to carefully deal and invest in your resources.
People can know that you are taking your business seriously
Yes this is another reason why a business plan in planning is very necessary because when you have a business plan in hand, everything is going to take your business seriously, employees are going to work in a much better perspective. Also on the financial matters that a given at the business proposals are dealt in the correct manner. Definitely to run a business is to generate revenue, without a business plan it is not possible.
Now let’s have a look at the disadvantages of a business plan. As like merits there also demerits of anything, let’s have a look to what the disadvantages are for making a business plan.
Your outcome can be inaccurate
Every business is different in nature in products and in the size as well. It is not necessary that whatever business plan you have made at the start of a business is going to be continued the way you want to be. It is also not necessary that all the short term goals are attained. Keep in mind that a business plan is also made, step by step. When short term goals are attained there are long term goals that are detailed in a business plan. If you cannot pursue your short term goals how in the whole world you are expecting to attain your long term goals.
You can waste your time in determining
Business plans mean Deep research at the start of a business. Without a deep result, it is not possible that you come on the business plan that effective. In other words, we can also say that you can waste your time in determining the possible outcomes and analysis apart from that you cannot get to anything concrete. This means that at times a business plan is useless. We cannot accurately define and design, what is going to happen but it is a hypothesis.
You cannot implement what you have thought
Business is held by someone else, the business plan is made by someone else, and the person work was going to achieve the goals are some people else. This means that our situation is complete, times you cannot implement what you have thought, or is written in your business plan. There are some people who claim that spontaneous actions and decisions successful rather than anything that is hand.