Significant study results reflect that persistent argument over whether to create a business plan continues to spark research. All around the globe, Entrepreneurs are eagerly awaiting the findings.
Do you too? Let’s end the wait here and begin.
According to a recent study, over 30% growth potential is boosted if businesses keep it in mind to create a business plan. This isn’t a figure you should take lightly. Laughing and/or dismissing both can result in heavy impending losses.
The founding director of the Bettany Centre for Entrepreneurial Performance and Economics, Professor Andrew Burke who happens to be part of the Cranefield School of Management in United Kingdom has said the following on the benefits of having the correct type of business plan in an interview that may be seen below. “It’s not whether you have a business strategy; it’s what kind of business plan you possess,” he says.
“Good planning has agility,” he further continued.
Successful businesses, according to Burke, have the following characteristics:
They are naturally versatile.
It means that the business plan you write or take the help of a business plan consultant in refining them, can adapt their approach and even alter course if necessary. This is the basic attribute/ foundation each business plan is built upon.
Burke’s studies and beliefs are strongly supported by any business plan consultant. Their goal to avoid becoming a static, written-and-forgotten plan. Rather they function, to assist you in your research, analysis, strategy building and implementation along with the measurement, and adjustment process involved.
Also, we would like to bring it to your notice that Burke hasn’t failed to emphasise the significance of initially connecting to your consumers. They can help you highlight your target market, enabling your product to reach the hands of one and observe the way they react to it.
Keep developing and executing your business plan step by step if you achieve excellent results. Also, adjust as you monitor and learn more about your market.
You may do this on a daily, weekly, monthly, quarterly, and on yearly basis. Connect with a business plan consultant if you find yourself stuck. They will be there to help you out.
Now that you have almost read the intricate details, we can’t miss out on the chance to hear from you about how you plan and monitor your company’s growth. And do you focus on the business plan’s adaptability?