• They don’t have the Capital or the Knowledge for turning their business idee into reality.
• Writing a business plan will help entrepreneurs to know what they must do to be successful and what steps they should follow to be successful in the near future.
Entrepreneurs lack the capital to start a business and their ideas do not stand out and or are already spent by other companies making the competition much much harder and just making it so much harder to start a decent business that does not die within year or even months . They can start small and branch out later but some Entrepreneurs make the mistake to start big only to sink before they even float , basically their dreams are unrealistic and fail to achieve anything in this world .
A business plan will help by forcing the Entrepreneur to research and learn about his business , making that the Entrepreneur will either quit his plan , make a new one , improve his plan or continue with his plan. The business plan will help create his vision and help him with planning his initial steps .
Because the entrepreneurs believe in their dreams and abilities, and this self-view might at times be inflated. If they do not have an action plan that is well-thought through and they did not do proper research, they will not have a realistic picture of whether the business idea will actually be viable.
Its hard to start a business without capital. But if you have a good business plan you will know how much money you will need, for what you will need it and how you will get it.
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 and we did not do proper research, we will not have a realistic picture of whether the business idea will actually be viable.
Entrepreneurs don’t always want to start small, which can lead them to unrealistic thinking. They might not be patient enough to have to start small and build the business and idea from there.
A business plan will help an entrepreneur as it would set out his ideas logically and help him see the possible time it would take him to achieve his goal.
Becausae entrepreneurs believe in themselves sometimes to much, they dream to big and then struggle with the start of a business.
A business plan can help them to stay realistic
Because the world is full of realistic dangers and challenging obstacles. Most entrepeneurs have a tendancy to be unrealistic when they come up with a new business or idea. They charge head first in to an idea that hasn’t been thought through and when they hit their first obstacle they don’t have a backup plan or the necessary funding to correct the problem.
That’s why a business plan is so important, make a plan and involve realisticly the rewards and risks for the idea. You don’t see a rugby team or soccer team go without having a plan for if something turns for the worst. That’s why I think planning is a key element for an entrepreneur.
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When someone comes up with a new idea, they usually get excited about what their idea promises in the future. At this early stage of thinking of a new, innovative idea, one usually gets ahead of themselves due to them wanting their idea to do its very best. This is were an entrepreneur will struggle to be realistic as they are thinking about the future of the idea without looking/thinking about the important beginning factors
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a business plan will help you to set out all the basic ground rules you need to follow. A business plan will also help you to stay planned and not go off the path, it will help to ensure that you stay on track and not lose sight of what you want your idea to do.
It is difficult for an entrepreneur to be realistic about putting their business ideas into action, because an entrepreneur is often restricted by their lack of access to resources such as basic factors of production, namely: capital, natural resources, and labour.
A business plan would assist the entrepreneur in setting up a basic plan of action stating the entrepreneur’s vision, mission and objective for the business, and the steps to follow to make these statements a reality.
I Think that a business plan is an effective means of defining your goals and the steps needed to reach them. It spells out your purpose, vision and means of operation. It also serves as your company’s resume, explaining your objectives to investors, partners, employees and vendors.
Entrepreneurs see the world and the world of work in a total different light then your everyday person. It is sometimes difficult for entrepreneurs to be realistic about putting their business idea into action because they already see the bigger picture while the rest of the people are still stuck on what is presented on paper before them.
A business plan will help because it will help create the entrepreneur’s vision and the bigger plan behind the business idea so that the people who must put the plan in action have a better understanding.
I think it is difficult, because you are not sure about what obstacles will come on your path so you cannot really prepare for it. It can also be difficult, because your colleagues and workers might not follow your plan or even agree with it.
A business plan would help you to stay focused on your main goal and what you would like to achieve. It would help to remember your values and what you stand for. When you will have to do public speakings or advertise your business - the other company would most probably be interested in your business plan, because no one wants to invest money into a business whom is not sure what they stand for or what they want to achieve.
It is difficult, because when a entrepreneur puts their business out there they don’t know if it will be a success or a failure. A new entrepreneur has a lot of unique challenges they have to face when starting their small business and they have to overcome the difficult challenges.
It will the entrepreneur to focus on the specifics steps that will be necessary for them to make the ideas of the business a success. It will help them to set their long-term and short-term objectives. I think a business plan is just a layout of things you need to do to make a success of your small business and it will help you to focus on the important things.
It is difficult because learned knowledge cannot always be implemented as market behaviour is sometimes unpredictable and creative ideas needs to be used.
writing a business plan will ensure proper planning and will act as a guide to what the entrepeneur/business is trying to achieve in the long run.
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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.
Because the business idea is innovative, the entrepreneur could feel pressure to reveal it. Also, the entrepreneur might have not thought the idea completely through.
A business plan could help the entrepreneur focus on the specific steps and how to reach the necessary goals set in place, The business plan could help the idea feel more realistic by supporting Financial estimates.
The purpose of a business plan is to showcase your goals and the ways to achieve those goals. The business plan is a clear way of showing how the business wants to develop and improve
-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 and we did not do proper research, we will not have a realistic picture of whether the business idea will actually be viable.
Entrepreneurship is all about taking calculated risks.It is very difficult to predict the future of the business as an entrepreneur as there is pressure coming from competitors.Putting a business into action requires a proper background research about the type of business and any obstacles involved.
Writing a business plan will help conducting the business towards what it wants to achieve.Manage the daily activities and being able to attract investors, most importantly to attain the goals.