BMAN111 Purposes of a business plan

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One of the stated purposes of a business plan is to ‘help the entrepreneur to be realistic and to put theories to the test’.

  • Why do you think it is sometimes difficult for an entrepreneur to be realistic about putting their business idea into action?
  • How do you think writing a business plan would help?
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  • Because as entrepreneurs we believe in our dreams and abilities, and this self-view might at times be inflated. If we do not have an action plan that is well-thought through and we did not do proper research, we will not have a realistic picture of whether the business idea will actually be viable.
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I think it is important so that he/she can have a target of what to achieve. It helps to be able to create a successful business because you know what to expect and if things are not going well you might know what the cause are.

I think writing a business plan will help you in managing, controlling and planning on how you want your business to operate. Business plan will help you to find strategy of how to operate your business.

Some entrepreneurs have high hopes, which isn’t bad but sometimes it’s out of reach and difficult to achieve. If you are a entrepreneur just starting out, you must stick to the basics and keep it realistic, but it will progress overtime and maybe it will be possible to put the business plan in action

Writing a business plan will help you to set your focuses and your current realistic goals so that you can progress in the long run.

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Entrepreneurs are very unrealistic because they believe that their business skills and ability to push through with their business plans are very effective and will lead to success. they sometimes dream too big and forget about the necessary facilities and finances needed to make their dreams come true.

So it is quite important/necessary for a business plan because it can put their plans in more realistic lines. The plan will help them take precise steps to make their business successful.

I think it is sometimes difficult because the entrepreneur does not have the financial stability to start their business, not just about income to start the business but also income to regulate cash flow or even for “Emergencies”, equipment, employees and so on.Its easier said than done.
They might also feel that their Business might not be supported by the masses and ends up wasting time and the resources on something that could potentially fail.

I think writing a Business plan may work in some instances, but if there is not funding and popularity involved, the Business might not be as successful as they wanted it to be.

Entrepreneurs are very enthusiastic and creative with what they want to achieve .This causes them to not reflect and understand on how realistic or unrealistic their efforts on achieving their goals will become.They can forget all the work that has to be done before they can achieve their goals such as finances because they are so driven to start their business.

By drawing up a business plan the entrepreneur will be able to see exactly how it will take for them to reach their goals .A business plan works as a guide as how to realistically to go ahead with their ideas by including how financially stable they are to even start the business .etc

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An entrepreneur can sometimes experience some financial difficulty and that could be a leading factor for him/her not realising their business idea or having difficulty realising it because they do not have the financial means to support their idea. If an entrepreneur does not have money then it can be very difficult because he/she does not have the capital to finance the business and for that reason the business cannot start or continue and therefor the business idea could be an unrealistic idea.

The definition of a business plan is as follows: a business plan is a document setting out a business’s future objectives and strategies for achieving them. This could help the entrepreneur to achieve his/her business idea(s) through a well constructed plan to guide them through every single step of the way and helping them to achieve their goals.

I believe that it is sometimes difficult for entrepreneurs to be realistic about their business plan because I believe that all the entrepreneurs believe that they can make the business a success even if they don’t have the background information to start the intrapreneurship process, and therefore I believe it’s difficult for them to not only put the idea into action but rationalize the idea about the intrapreneuring process.
a business plan will help because it will give structure to the process it will clearly state the mission and vision of the entrepreneur process.
And it will also clearly state what the intrapreneur wants to accomplish with the business

Entrepreneurs have to be unrealistic because they believe that their business will work they sometimes dream too big and forget about the necessary finances needed to make their dreams a reality. That is why it is important to have a business plan to help stay on track of your dreams and make a success out of their business.

Because as entrepreneurs we believe in our dreams and abilities, and this self-view might at times be inflated. If we do not have an action plan that is well-thought through and we did not do proper research, we will not have a realistic picture of whether the business idea will actually be viable.

Because as entrepreneurs we believe in our dreams and abilities, and this self-view might at times be inflated. If we do not have an action plan that is well-thought through and we did not do proper research, we will not have a realistic picture of whether the business idea will actually be viable.

Sommige entrepreneurs beplan nie wat hulle volgende stap is nadat hul die sake-idee uitgevoer het nie. Om iets kreatief werklik te maak kos geld en ek dink dit is belangrik dat entrepreneurs aandag moet gee aan die SWOT-analise,PESTWOU en Porter se Vyf Klagte want dit sal help om die toekoms van die besigheid te bepaal en wat die volgende stap is. Om ‘n strategeë te skep sal ook help om geleenthede aan te spreek en om probleme op te los.

Ek dink die skryf van ‘n sakeplan is belangrik, want dit bepaal die sukses van ‘n besigheid. ‘n Goeie sakeplan lok en behou beleggers, wat baie goed is vir die besigheid, want dit verhoog ook die besigheid se inkomste.

Entrepreneurs weet nie presies hoe hulle by hulle drome gaan uitkom nie, dus is dit moeilik vir hulle om hulle planne agtermekaar te sit, omdat hulle nie al die planne het nie. Entrepreneurs is ook geneig daartoe om nie ver vooruit te beplan nie, met ander woorde hulle weet nie wat al die stappe mag wees, sowel as hoeveel stappe daar mag wees nie.

Deur hulle te help met n besigheidsplan, sal hulle voor die tyd verstaan watter stappe hulle moet neem op watter punt. Hulle sal ook weet hoe hulle pad lyk om hulle droom te bereik. Deur hulle te help om hulle besigheid te laat opstaan, sal ons ook die ekonomie help met werksgeleenthede.

Because of factors such as Money witch is needed to make n dream or a vision of a business n reality
2.
A business plan is essential because it benefits you in n ways such as with planing, organization as well as making visions reality by stating pros and cons and looking at different aspects

  1. It is easy for entrepreneurs to get excited about their ideas or goals, but a lot harder to put in the work to achieve them. Entrepreneurs are sometimes unrealistic about their ideals and goals, because they do not have a solid plan. The best way to transform your idea into a business, is to write it down and understand it. Some entrepreneurs are not comfortable making hard decisions and taking risks, and can’t execute their plans. Not having a solid business plan, will result in a slim revenue model, limited business opportunities, underestimating resource requirements, not enough marketing etc. It is thus essential to have a solid plan if a business is to succeed. Some entrepreneurs also lack the knowledge and experience to change their ideas into actions. They remain unrealistic about their goals.

  2. Having a business plan enables the entrepreneur to see the whole business. Strategic choices can then be made and priorities can be set. A business plan can also help to manage cash and keep the business on track. A good business plan ensures that ideas are turned into actions and regular reminders keep them on track.

Entrepreneurs will always try to achieve their business idea, and being realistic about the idea may cause the entrepreneur to halt on his idea, and may give up on the business idea. A business plan will help by giving the business idea a direction or pathway to follow. It can help guide the entrepreneur to a successful business idea and could help him/her achieve their goal of starting the business.

Because as entrepreneurs we believe in our dreams and abilities and self- view might as times be inflated.If we do not have an action plan that is well-though through and we did not do proper research, we will not be a realistic picture of whether the business idea will actually be viable

They do not do proper research on their products and are sometimes ynrealistic about a new product. a Business plan will help them to understand what their customers preferences are and what is realistic about new business plans.

Entrepreneurs sometimes have unrealistic dreams and expectations and constructing a business plan would help them most likely to make those ideas into a reality