In your opinion, why do we need a business plan?

[shane122]

A. It gives you a road map to success in market
B. It clearly defines strategies
C. It forecast your business success through financials
D. All of the above

[Karl]

Writing a business plan really depends on the reason for the business plan. To me, a business plan should be for the business itself, and should focus on the problems you might face, not on the success you might see. Be realistic in your forecasts, don't fool yourself into thinking things will be easy. You need that way of thinking to assure you stay focused, moving towards a fixed goal.

[Holmes]

D all of the above, though also if a business is looking for potential investment a solid business plan is a must with realistic forecasts and well documented risks and contingencies. I was talking to a friend who recently setup her business and she uses it as a tool she refers to and updates daily, so I guess a business plan is a tool that can have a variety of uses which depend upon how well you utilise it?

[Atlantaes]

To make a busines plan, we should consider all the risk factor. We should analyze the cost benefit ratio....