Business Planning by David Butler
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Business Planning
A guide to business start-up
David Butler
There is a whole host of reasons to justify the preparation of
business plans, not just for business start-up enterprises, but as
a model of good practice for established organizations. Any
one of these reasons in its own right should make the plan-
ning process a worthwhile exercise, if it is done properly.
However, the important thing to remember, is that just
producing a good business plan alone, will not result in a sound,
profitable or prosperous business. The business plan is just that
– a plan – and like any other plan, the only way to see if it
really works is to monitor its progress at regular intervals, so
that you can respond to any potential problems which may
arise and then change or modify your business strategy as
necessary. So, let us have a look at some of the reasons why
people take the trouble to produce business plans.
First, the process of producing a business plan acts as a very
efficient method of focusing the ideas of potential entrepre-
neurs in terms of defining their objectives and assessing their
own abilities to organize and run the business. It also acts as
a means of testing the viability of the business proposal before
actually committing its proposers to any substantial expendi-
ture or investment. Typically, this type of plan would be
prepared before the start-up or acquisition of the business.
Second, the planning process establishes parameters and specific
targets which provide a yardstick against which the progress
A guide to business start-up
David Butler
There is a whole host of reasons to justify the preparation of
business plans, not just for business start-up enterprises, but as
a model of good practice for established organizations. Any
one of these reasons in its own right should make the plan-
ning process a worthwhile exercise, if it is done properly.
However, the important thing to remember, is that just
producing a good business plan alone, will not result in a sound,
profitable or prosperous business. The business plan is just that
– a plan – and like any other plan, the only way to see if it
really works is to monitor its progress at regular intervals, so
that you can respond to any potential problems which may
arise and then change or modify your business strategy as
necessary. So, let us have a look at some of the reasons why
people take the trouble to produce business plans.
First, the process of producing a business plan acts as a very
efficient method of focusing the ideas of potential entrepre-
neurs in terms of defining their objectives and assessing their
own abilities to organize and run the business. It also acts as
a means of testing the viability of the business proposal before
actually committing its proposers to any substantial expendi-
ture or investment. Typically, this type of plan would be
prepared before the start-up or acquisition of the business.
Second, the planning process establishes parameters and specific
targets which provide a yardstick against which the progress
