Thursday, October 15, 2009

I Need To Write Some Business Plans

With recession still hovering our heads and unemployment continually haunts a number of individuals, any hard earned money is too difficult to let go. When I decided to resign from work and just concentrate on business, I wanted to maximize my salary on something worthwhile. Thus, I purchased some food equipment.

However, my previous work and formal education taught me that business is quite a gamble and starting it without a plan is a guaranteed failure if not disaster.

So, a business plan is quite necessary. It is like a blueprint of how your business will become and how you will design it. Most entrepreneurs fail simply because they just follow the trend. This will of course bring revenues but somehow, this is only temporary as supply will outrun the demand. So, it is safer to venture on something rarely marketed.

The business plan will allow you to assess your SWOT and this will help you market your business to lenders or creditors. No one would want to loan their money on a venture that is uncertain. But if a business plan is there where resources are stated and market opportunities are assessed, you can actually have an edge to those who don't have any plan at all.

I need some capital to loan from a bank, but I could not risk my name and my family's future unless I am certain that my business will grow as I want it to be. I just need some time and focus to start the plan before committing business suicide.