In the world of business, one of the single most challenging parts of starting a new business is having a plan. Fail to plan, plan to fail as they say. For this reason, it’s important that you take the importance of having a clear business plan put together very seriously. Wondering why all of your competitors on the market have been able to secure partnerships and/or funding? It comes from having a sound business plan.

Whether you take the time to write it alone (risky) or you hire a business plan writer (smart) to help handle the process, you can find that having a business plan is a mandatory part of success. Look at this way: if you had the money to invest into an opportunity, what do you choose?

  • The person with the charismatic idea, but no real analysis that makes it viable?

  • The person with the charismatic idea, who has carried out comprehensive, realistic analysis?

It’s a no-brainer, surely?

For that reason, the basic answer to “who needs a business plan?” is everyone with an ambition to start up their own business. If you are willing to put in the effort to start a business, you be willing to create a business plan to help you get the right idea about how to make your start-up run swimmingly.

Business Plans: Who Needs One?

Of course, if your aim as a business is to merely work as a freelancer or to pick up some kind of work as a contractor, you don’t need to go through this process. If your business is going to just be run by working normally and giving people an understanding of your service when you speak to them, and you aren’t looking for partnership, investment or any other kind of support, this isn’t really needed.

However, if you are serious about starting an actual business instead of just running your business as a freelance contractor, it pays – a lot – to spend some time getting used to how all of this works moving forward.

Alright, so first off, you need to get a business plan if you are going to start anything that requires:

  • Any kind of meaningful time to set up.

  • Any investment from third or foreign parties.

  • Resources to get started such as land, a place of business, facilities, storage, equipment etc.

This means likely having to go to some kind of financial institution, entrepreneur or business to get started. This also means finding the capital to fund your business. That’s a lot of hard work and usually needs you to show off plenty of evidence that this isn’t merely a bright idea without any real foundations for success.

By keeping that in mind, you should find it much easier to start setting up a business plan that convinces. If you were thinking that you might not need one, though, the above might help to disprove that notion. If you’re going to be more than a freelance contractor, or even if you want to try and gain government aid, a business plan is essential.

Published by Jason Roy