Entrepreneurship Development Cell
Mon Jun 07 2021

Developing a Business Plan: Pros and Cons.

A business plan lays out a written roadmap for the firm from marketing, financial, and operational standpoints. Writing a Business Plan allows you to identify potential problems and opportunities your business might face and helps prepare for that. Then why do some business plans fail? And if you don’t agree with this then in what ways writing a Business Plan benefits?

Comments by Others

tofyipesto@biyac.com

A business plan needs to flexible and should keep changing it up regularly. To keep realigning with the business's goals

niraj.21810915@viit.ac.in

Pro: Planning will give us some validations as well as stats which could be beneficial for not only creating targets but also pitching an investor. | Con: If targets set based on the plan doesn't meet, it may demotivate the team & also might make them impatient

niraj.21810915@viit.ac.in

@tofyipesto@biyac.com I agree with you that a business plan should be flexible, but I think there still should be some control over how much changes are to be done so that the USP (Unique Selling Point) & Vision of the company doesn't get damaged

tofyipesto@biyac.com

@niraj.21810915@viit.ac.in Yes for sure!

vardozustu@biyac.com

@niraj.21810915@viit.ac.in indeed lots of changes and diversification seldom lead to drawbacks and inevitable damages to the business model