BMAN111 Purposes of a business plan

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Because you as Entrepreneur should not have any hopes of having success. Keep everything you do as simple as possible. It is hard to put your business plan into action because when you start there wont be anyone supporting you until you have proven success.

Writing a business plan would help because it provides structure and planning to everything you do. It will help you manage and control how you want your business to operate.

Because entrepreneurs believe in their dreams and works very hard to make the idea of the business a reality, and might be scared they will be turned down at a chance of putting their business into action. A well written business plan with proper research about the business plan will help. So that the entrepreneur will have a better understanding if the idea of the business will work in reality.

Some entrepreneurs want to start a business but find it difficult to put their idea on a business plan. They don’t have a target market or their target is not realistic as they not sure which age groups they might need to consider to target and how their business will be affected. they might not have the capital to start the business, as their idea is too great for small amount of capital.

when you have your idea written down, it will be easier to continue working on it, till you accomplish the idea. As an entrepreneur, you always thinking of new ways to make money and always have many ideas, so one you pit the ideas down, it will help to try work on them.

It can be difficult for an entrepreneur to be realistic about putting their business ideas into action, because sometimes entrepreneurs have big dreams and sometimes these dreams are not realistic and can not be achieved or put into a business plan.

I think it is important to write a business plan, because then you can see what your goals are and then see if it can be reached. If not you can make plans to find what you’ll need or what would rather work

As an entrepreneurs, they have so many ideas and plans they want to establish forgetting that sometimes not all of these plans are feasible in real life. That’s why I think it is so hard for entrepreneurs to create an actual business plan to convert their idea into something realistic.

Writing a business plan might help entrepreneurs to see what is realistic and what is not, which might give them a hand guide to go forward.

Entrepreneurs must have a characteristic of wanting more, looking towards the future and by doing this most people tend to think unrealistic in terms of time management or either the success rate of their business in 5 years.

To start something new is always scary because you have this image in your head of how things should be run and what the outcomes of certain actions should look like- but unfortunately the business world does not agree with this. There are set terms and ways of doing things, therefore entrepreneurs feel pressured to accept an idea that wasn’t really what they wanted to do in the first place.

Writing a business plan gives you, and others the ability to physically see what you want to achieve. It gives clear steps and means on how to achieve your goals.

  1. It’s difficult for an entrepreneur to be realistic about putting their ideas into action because their ideas might seem far-fetched and unreachable, and they might not want to take the risk of losing what they’ve put in.
  2. Writing a business plan would help through guiding you towards your goal in a way that you best see fit.

1.Because competition can discourage a person from putting their ideas into an action.Being realistic can also keep an entrepreneur from putting their ideas into actions.
2.A Business plan can contribute to planning and goals of a business

Because entrepreneurs always have high hopes about theirs businesses on how they should succeed and for them to achieve their goals but the only problem is that they have doubts about whether they will proceed with their business ideas in the long run.

it would help the entrepreneur to focus on the main aim of the business in order to achieve their dreams and to proceed victoriously.

It can sometimes be difficult for an entrepreneur to be realistic about executing their business idea(s) because we are influenced by the people around us. We are so focused on what everyone else thinks that we want to do everything in our power to make the business plan work to prove a point to others, no matter how unrealistic it may seem.

A business plan could help the entrepreneur to achieve their business idea/goal(s) through a well constructed plan, because it will help them to find a strategy on how to manage, controle and plan how their business should operate.

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.

Sometimes it’s difficult for an entrepreneur to make realistic market assumptions when attempting to pursue a new idea. When starting a business there is risk involved. Thus, it is important to do research and gain relative knowledge to take the best possible calculated risk. That’s why it is important to do in depth feasibility studies.
Visualizing ideas and getting it on paper has always proven to be an effective technique for brainstorming and seeing the bigger picture. It promotes creative thinking helps the entrepreneur see the achievable options. It’s an effective way of gathering the needed information.
When applying for a loan, a strong motivated business plan is a must. It is also needed for Maintaining Business focus, securing outside financing, feulling ambitions and mapping growth and enlightening executive talent.

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An entrepreneur is sometimes realistic about putting their business idea into action because of various reasons such as their business idea turning out to be negatively affecting their business which could result in profit decreasing as well as losing customers.

I think writing a business plan would help because it will be able to analyze the positives and the negatives about your business plan and in that way the business gets to save money and time.

As an entrepreneur you usually approach other people for a second-opinion on a particular business idea you have in mind. Once one receives negative feedback about one’s business idea one tends to start losing faith in the success of their particular business idea and this will then give the entrepreneur difficulty in making their business idea a reality.

  1. Ek dink dit is moeilik omdat hulle soms baie groot idees omskep waarin hulle ten volle glo, as gevolg hiervan veroorsaak dit dat daar nie voldoende navorsing gedoen word nie. Die entrepreneur is baie opgewonde oor hulle idee en wil dit net laat realiseer sonder om deur die nodige stappe te gaan wat daar verwag word van die proses om 'n nuwe idee in werk te stel.

  2. Die besigheidsplan sal hier in werke tree om te versekker dat die regte stappe gevolg word om hierdie nuwe idee ten volle te verwerk en dit tot die beste produk te formuleer. Die besigheidsplan gee 'n uiteensetting van wat verwag kan word en wat bereik kan word met die produk.

  • Everything starts in the mind of someone so they can fantasies about there business being successful , but when they start with there business plan they realise that its not that easy in real life. The mind is a big weapon but can easy betray your expectations for reality.

  • Drawing out your plans for something big you want to do is the starting point for success because if you read out your plans you can find out what will work and what will not work. This is the same for business plans if you can read your plans out you can easily find problems in your plans and will be able to fix them.

  1. It could seem difficult for them because the idea might seem too big and the entrepreneur will have doubts if the plan would work at all and if it might cost him his business.

  2. Writing your plan will ensure that you can think of all the important factors. This will allow you to then focus on those important factors, not having to worry about important points you might have missed when you did not write out your plan.

Entrepeneurs often think verby big witch is a good thing.But also very often it can be unrealistic.As entrepeneurs we believe in iur abilities and think qnything is possible. But you have to create a business plan so you know what to expect and the outcome of it all.It wil help you to manage and plan your idea so it can be sucsessful.It gives you strategy to your plan.

They can have to big dreams and when it comes to achieve them they can’t reach it. They must have dreams, but they can have small dreams that works to one big one. So if they fail in one dream their setback won’t be so big.
It would keep them motivated to reach their dreams.

The dictionary definition of an “entrepreneur” is a person who sets up a business or businesses, taking on financial risks in the hope of profit. Being an entrepreneur entails hard work, long hours, dedication and courage to believe in their product or service. This may seem difficult as it involves high risks and failures but nothing worth having comes easy. I think a business plan is a crucial first step and a guide to helping your business grow. It helps entrepreneurs devise different strategies in order to start their business. This helps them find out which points in their business they should focus on and also to find out the strengths and weaknesses of their business. This in the future will help your business grow financially and economically stronger.