5 reasons why a business plan is important

The core elements of the plan are where you are now, where you want to be and how you will get there. They include detailed information about your purpose, market analysis, competitors, customers, cash flow projections, marketing, sales and logistics. 

 

Creating a business plan before you start your business will help to give you a clear path to follow whilst you develop and grow your business. It is not a document that you simply create and file, it needs to become the backbone and a guide for everything you do. Control measures need to be included so that you can monitor and measure how well the business is doing and avoid any critical issues.