Why You Must Have a Business Plan Overall rating: ★★★★★ 5 based on 23 reviews
5 1

BlogSimplio Labs Blog

Once we accept our limits, we go beyond them.
Albert Einstein

Why You Must Have a Business Plan

Business Advice No Comment

These days, having your own business can be better than just being an employee. With the right capital and attitude, you may be on your way to reaching financial freedom. Moreover, it is also advisable to have a business plan for you to be guided on how you envision your business to be. A business plan is not just about planning; it may be the key that will open a lot of opportunities for you and your business.

business-plan-for-business-01

First of all, having a business plan allows you to set specific objectives. This is especially true for managers so they can establish what will happen to the business. These objectives must be tracked and followed through and your business plan can help you do those. Having clearly defined objectives will make you organize, plan, and strategize well.

share-your-ideas-01

Aside from priorities and strategies, a business plan also allows you to share your action points with the people you love. Yes, you should not just share them with your business partners and colleagues; your partner, significant other, or spouse may help you in ways you would not expect. By sharing your business plan with them, you can improve your communication skills, which you can also apply when running your business.

analyze-your-budget-01

As your business grows, you will need to consider if it is necessary for you to expand its location. Do you need to rent a bigger office space? Rent is usually a fixed cost and the bigger the space, the bigger the rent. Having a business plan can help you analyze your growth prospects and budget so you can decide whether or not it is okay to have this increased fixed cost.

hiring-sign

Aside from possible increased rent, you will also need to think about hiring new people as your business expands. This can be a risk, yet it is also a duty if you want your business to expand further.Β  Your business plan can make you clearly determine the logic behind hiring new employees and identifying the roles they will have to help your business grow. In addition, training new employees can be smoother and easier if your business plan addresses this aspect.

help-in-deciding-01

Another thing to consider is buying or leasing assets. How many should be purchased or leased? How much are you willing to spend buying or leasing them? How long will you use them and how important are they in running your business? These questions you ask and more can be answered by your business plan as it can be your guide in deciding what will happen to your business assets in the future.

corporate-handshake

One of your business goals is to develop new alliances. Use your business plan to find and communicate with potential partners who can help in the expansion and further development of your business. Include the standards or criteria you’ll be looking for to find alliances that are compatible for your business or those who have the same vision as yours.

Aside from alliances, you would also want to have investors. Usually, investors want to see a company’s business plan first before they decide to invest in it. Having investors is great for any business because they can help increase revenues, so make sure that your business plan is clear and complete. Convince them that your business is worth investing in.

loan-approved

Just like with investors, a good business plan is also needed to convince lenders to grant you a business loan. They expect you to have a plan on how to earn back and pay the money you will be owing them, as well as back-up plans in case any problems turn up.

marketing-01

Whatever kind of business you have, one thing is for sure: you want it to sell. Whether you are selling goods or offering services, you want to eventually have patrons who will keep your business afloat and boost your sales. Therefore, having a business plan can aid in making your clients understand what you have to offer, how much it’s worth, and why they should have it. In short, your business plan can be a good marketing tool if made properly.

One way to know that your business is growing is if you start to think of having another business, related or otherwise. Use a business plan to know the steps you need to take to make your new venture successful. What do you need to do? What resources will you need? How many people do you plan to hire? Your business plan will highlight the factors you need to consider to start a new business.

You must have a business plan to help your business grow. Strategize well and prioritize the distribution & allocation of your resources with great care. After all, you would not want your business to be stagnant, would you?

 

Good experience

★★★★★
5 5 1
β€œSimplioWebStudio did a great job”

Project accomplished

★★★★★
5 5 1
β€œProject accomplished”

Plugin developed successfully

★★★★★
5 5 1
β€œPlugin developed successfully”

ANOTHER SUCCESSFUL PROJECT

★★★★★
5 5 1
β€œANOTHER SUCCESSFUL PROJECT”

Thank you Simplio team

★★★★★
5 5 1
β€œGreat experience”

Working with Simplio Web Studio was a fantastic experience.

★★★★★
5 5 1
β€œWorking with Simplio Web Studio was a fantastic experience. The service provided was amazing and professional. It was a delight to work with Nir, who went the extra mile to meet our demands in a timely manner. He really made our vision a reality by creating us a classic site, but moreover the relationship we formed is something our company really appreciates. It was a pleasure working with Nir and the team at Simplio Web Studio. We highly recommend them to all and we look forward to working and doing more business with them in the future.”

a great project

★★★★★
5 5 1
β€œa great project”

All the best

★★★★★
5 5 1
β€œAll the best to Simplio”

My website is Live

★★★★★
5 5 1
β€œMy website is Live , thank you Simplio”

From beginning to end, the team at Simplio provided top of the line customer service.

★★★★★
5 5 1
β€œFrom beginning to end, the team at Simplio provided top of the line customer service. The web developers are incredible and made sure we got exactly what we were looking for! They truly went above and beyond to make us happy and we couldn’t have been more pleased with their talents. We would highly recommend them. Thanks so much Nir!”

After over two years of research we chose Simplio.

★★★★★
5 5 1
β€œAfter over two years of research we chose Simplio. We are so far very satisfied. These people answered the phone on a Sunday and fixed a problem that was not even their fault. It was the host company which I had chosen that had caused our site to go down.”

Outstanding in both knowledge and professionalism.

★★★★★
5 5 1
β€œOutstanding in both knowledge and professionalism. Nir and the staff at Simplio are Excellent in branding, web design and overall web presence. Definitely recommended!”

I cannot even imagine having another company managing my Presta shopping cart.

★★★★★
5 5 1
β€œThey are now part of the Diastasis Rehab business team after working with them almost a year now. I cannot even imagine having another company managing my Presta shopping cart. After a bad experience with a programmer, I needed a new programmer (one that knew prestashop shopping cart) and most important one that I could trust. Finding all three was a difficult process! Lucky for me I found them. I cannot say enough about the diversity of services that this company provides. Every step of the way they make amazing suggestions to increase my sales and they get back to be right away either by email or phone. They have even created a simple and easy check out program for Presta Shop. They are actually a one stop shop! They updated my SSL, are setting up and changing my server to a dedicated one, setting up streaming of my DVD, website design, creating a specific program for address verification on Presta cart and handled the integration of Presta cart with my fulfillment house. I am now working on developing an APP with them”

Simplio really helped me out of a jam.

★★★★★
5 5 1
β€œSimplio really helped me out of a jam. They did exactly what I needed on a very tight time frame (with little notice too!!!!) They are my new go-to guys for any Prestashop needs! Thanks Simplio!”

Excellent service!

★★★★★
5 5 1
β€œExcellent service! Nir was exceptionally helpful in solving a lot of issues with our website and making the user experience more smooth. He understood the needs of our school and helped improve the website tremendously.”

impressed

★★★★★
5 5 1
β€œWhat impressed me most about working with Simplio was their attention to detail and excellent communication. Not only are they talented developers, but, they are also pleasant to work with and highly professional. Highly recommended!”

professional service

★★★★★
5 5 1
β€œWhat a profissional service Simplio offers.I hired them to rebuild my website for my business and they were creative and professional. Nir was on top of the whole project from day one, until he delivered the project on time. I will defiantly recommend Simplio to anyone who is looking for website services. From creating, designing to maintaining your image online. Good Job Nir and the rest of your group.”

Great Logo

★★★★★
5 5 1
β€œGreat Logo, Very happy”

fantastic to work with

★★★★★
5 5 1
β€œSimplio was fantastic to work with. They were fast, communicative and incredibly helpful to me. I highly recommend them to anyone who needs help with their digital needs!”

Awesome experience

★★★★★
5 5 1
β€œAll details and requests were met in prompt an friendly manner. Would recommend on any day to anyone who wants to feel their business is in great hands.”