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Therefore, buyers may not make the connection that your company is associated with what they desire to purchase.Functioning to save future frustration, the strategic alignment methods put in place within a business plan remove any ambiguity and describe who and what your company is, the products and services it offers, and the customer base it caters to.
Not every business needs to have a business plan, although, it is recommended that every business has a roadmap to guide its progression.
If you are a freelance writer who has a copywriting business that makes a little extra cash on the side, then you can probably skip that whole business-plan-writing debacle without suffering too much damage.
Here are some of them: There are several good reasons why you should strive to write a business plan, even if you think you do not need funding or you are not inclined to bring on more partners.
Some of these benefits include: Having a business plan in place is a surefire way to convince investors to align their interests – and funding – with your enterprise.
With strategic alignment, the audience is precisely matched with your products and services, thus resulting in future goal-setting and business practices that specifically correlate with that paired relationship.
Without articulating your business’s strategic alignment goals, the products and/or services you are selling may not be precisely marketed to your intended audience.
This ensures they are as educated and informed as possible with respect to their business and its strengths and weaknesses.
Business plans are absolutely necessary to ensure the proper management and handling of cash and other resources.
Conversely, businesses without plans in place can often become overwhelmed by failures that occur within the business and may potentially fail due to the lack of provisions and safeguards put in place.
With good planning comes clearly set expectations, results tracking, and goal-setting.