So, you think you don't really need a business plan? Most people make the common mistake of thinking that business plans are only for startup businesses looking to raise capital. Big lie! Even established companies need business plans too. Plans are useful at every stage in the life of a business, whether it’s looking for startup capital or considering options to expand into foreign markets. In this article, we shall look at five powerful things a business plan can and will do for you and your business. Whether you’re still at the idea stage or have an existing business you want to grow and expand, I’m sure you will find great value in the things you’re about to read.

Why do many entrepreneurs who have brilliant business ideas never find the capital to transform their ideas into real-life businesses?
Why do most startup businesses fail to attract the loans and investments they need to grow and succeed?
Why do more than 80 percent of businesses fail within their first five years?
One simple answer:
Many of them didn’t have a plan.
Like most people who travel to an unknown destination without a map, guide or directions, these businesses got lost and never reached their destination (success).
A business is not a hobby or playful adventure. As an important venture that requires an investment of time, effort and money, entrepreneurs just have to take business planning very seriously.
One thing is clear: planning is a habit of ALL successful businesses that still exist today!

 

 

 

7 Killers of Business ideas.

1. No capital to start
Start your dream. Money does not come before it comes after. Make use of your available resources to start with.
 
2. Procrastination.
Not yet time. Waiting and postponing business ideas.
 
3. Self Ownership
You are not aware that there are other people with same plan. Act fast.
 
4. Fear of risks or failure
Start and fail. A failed business is better than business never born. Its wrong not starting at all.
 
5. Absence of zeal and energy
Do not give up on it. It takes a lot of energy to initiate what you have never done before.
 
6. Too many babies
Too many ideas. Take them one after the other. Even twins come one after the other.

7. Inadequate knowledge
You need to learn and research the business idea before starting.

A BASIS FOR SALES FORECASTS
Sales forecasts enable you to manage your business
more effectively. Before you begin, there are a few
questions that may help clarify your position:
How many new customers do you gain each year?
How many customers do you lose each year?
What is the average level of sales you make to each
customer?
Are there particular months where you acquire or
lose more customers than usual?
Existing businesses
The starting point for your sales forecast is last year's
sales.
Before you factor in a new product launch, or an
economic trend, look at the level of sales for each
customer last year. Do you know of any customers
who are going to buy more - or less - from you next
year?
In the case of customers who account for a
significant value of sales, you may want to ask them if
they plan to change their purchase level in the
foreseeable future.
New businesses
New businesses have to make assumptions based on
market research and good judgement.
Every business can also add in the new customers
that it expects to attract without actually knowing
who they are, or what they will buy. Simply enter
"new customer" on your forecast.
Depending on your type of business, you may want to
specify the volume of sales in the forecast - for
example, how many 3.78-litre cans of paint you sell -
as well as the value of sales. By knowing the volume,
you can plan the necessary resources in areas such
as production, storage and transport.

 Build Your Business Plan
Are you interested in starting a business? Creating a
business plan is one of the most important steps you
will take because the plan serves as your road map
for the early years of your business. The business
plan generally projects 3-5 years ahead and outlines
the route a company intends to take to reach its
yearly milestones, including revenue projections. A
well thought out plan also helps you to step-back and
think objectively about the key elements of your
business venture and informs your decision-making
on a regular basis.

Don't wait too long, put a call through to Apogee today and your business will become an excellent reality.