3 Reasons Why You Need a Business Plan – Bplans Explains Everything

So why do you as a business owner need a business plan? I want to tell you why you want one, whether you need it or not. You want a business plan because it’s going to make your life better. It’s going to make your business better. Let me explain. I’ll use the metaphor of navigation. You have a destination right? That’s your strategy your goals That’s what you want from your business . From there you set the steps as a route —the steps along the way. Milestones are like choosing your route to get to that destination and as you do your planning you might discover that One route is more expensive. Do you have the resources you’re going to need to make choices? And then it gets better still when we introduce the equivalent of real-time GPS that gives you information as you’re going along. Which in the case of business planning, is plan versus actual. What went right? You want to do more of that. What went wrong? You want to work around that. Every month, you meet to review your plan and revise it as you need it. So you end up with better management, a better business, and it makes your life easier.

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27 thoughts on “3 Reasons Why You Need a Business Plan – Bplans Explains Everything

  1. Thank you for your explanation. I clearly get that a business plan helps you to oversee the potential ways to achieve your goals, but I feel like the explanation should be more specific and straight to the point so that I could clearly understand why a business plan is important. Overall, I think this video is great in giving the general idea on the importance of business plan.

  2. The content of the video is so informative. For business start-ups, it is really important for them to recognise the three reasons why they need to develop a business plan.
    By having a clear business plan, certain company will have a better management and business and also ease their business paths.

  3. Thank you for the brief explanation. I learnt that it is very vital for a fresh business to make a business plan because business plan sets you with a goal and vision for your business, ways to achieve them, and gives you the opportunity to improve any aspect of your business in real-time.
    For a fresh business, business plan shouldn't be taken lightly because it is crucial in determining how your business going to grow in the future.

  4. Thank you for this new information Tim, it is very beneficial especially for me as a student. The way you elaborate is so precise and meaningful. I hope that I can use your idea for my future business. I wish my business will be successful after watching your inspirational video.

  5. Thank you so much for the informative video.

    This video made me realize that a business plan is very important to ensure the development of a business. It is also crucial to have a business plan to ensure that a business is smoothly run.

  6. This video help me a lot in explaining why business plan is important. Very informative. Thank you.

  7. A business plan is vital in the overall planning process of the business. It helps individuals involved In determining best routes to take for the business in terms of the organizations development and provides a sort of framework to be followed or fall back when things seem a bit cloudy

  8. Hi, thank you for sharing such an informative video. Now I know the reasons on why we need a business plan, the things that we can do in the business as well as the things that we cannot do. I thank you again for the sharing, till next video, Tim!

  9. Thank you for helping me with this video. Now , I know how to set the steps to get to the destination that I want. Very informative and interesting video.

  10. thank you so much for the information you've shared. now i know why the business plan is very important.

  11. This is a very good video. I personally love how the speaker uses drawings such as destination, roads, toll and danger sign to explain the business matter. It has made the explanation became clearer and easier to understand. Based on the video, I have understood that in order to achieve success in a business, we must plan and choose the path that we want, we have to know which path costs more and along the path, we might encounter some obstacles or problems to be solved. All in all, business plan helps us to really know and understand our business and what we want for our business.

  12. All in all, business plan really give an insight for an entrepreneur to have a clear indication in the business. it really go-to motivation vid whenever any startup about to start. Thank you

  13. Thank you for the heads up on the importance of business plan. This video made me realize how important business plan in making a business.

  14. Thank you for the informative video. After watching this video i realize that business plan is very important to make a business better. Business plan help a business to choose their best way for their company to growth better. Thank you.

  15. Thanks for a great information.A business plan is a valuable tool for a business owner, whether you are at the start-up stage, have been in business for years, or are ready to grow. So, we need to write business plan as it is a key to succeed your business.

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