• Importance of Business Plan Training

    Importance of Business Plan Training

    Importance of Business Plan Training

    If you Fail to Plan, You Plan to Fail ~Proverb

     

    Nearly all business experts agree on one thing: the importance of drafting a business plan. However, plenty of companies just jump into the competitive arena without a formal plan. Why? reasons, reasons, reasons.

    This article is derived from Dummies.com

    A lot of new businesses are carried away and figure their passion and optimism are enough to build a successful company. Others say they were just too busy to develop a formal business plan. But operating without a plan can prove even more time-consuming in the long run.

    The Benefits of Having a Business Plan

    The time you invest in your business plan will pay off many times over. Some of the most obvious benefits you can gain from business planning include

    • An opportunity to test out a new idea to see if it holds real promise of success

    • A clear statement of your business mission and vision

    • A set of values that can help you steer your business through times of trouble

    • A blueprint you can use to focus your energy and keep your company on track

    • Benchmarks you can use to track your performance and make mid course corrections

    • A clear-eyed analysis of your industry, including opportunities and threats

    • A portrait of your potential customers and their buying behaviors

    • A rundown of your major competitors and your strategies for facing them

    • An honest assessment of your company’s strengths and weaknesses

    • A road map and timetable for achieving your goals and objectives

    • A description of the products and services you offer

    • An explanation of your marketing strategies

    • An analysis of your revenues, costs, and projected profits

    • A description of your business model, or how you plan to make money and stay in business

    • An action plan that anticipates potential detours or hurdles you may encounter

    • A handbook for new employees describing who you are and what your company is all about

    • A résumé you can use to introduce your business to suppliers, vendors, lenders, and others

    What can go wrong without a business plan

    The many benefits of having a business plan should be enough to convince you. But in case you’re still wavering, consider what can go wrong if you don’t take time to plan. You risk

    • Running out of cash before you open your doors because you haven’t anticipated your start-up costs

    • Missing sales projections because you don’t really know who your customers are and what they want

    • Losing customers because your quality or service falls short

    • Becoming overwhelmed by too many options because you never took the time to focus on a mission and vision for your company

    • Going bankrupt because you don’t have a rational business model or a plan for how to make money

     

    Business Plan Training : A Solution

    But how to make a SMART business plan ?

    Of course we cant just download a free business plan from the internet and just apply it on our business.

    Business Plan also must be SMART. With the acronym of:

    Specific, Measurable, Achievable, Realistic and Time-bound.

    Business Plan Training-Business plan and management training - transwish indonesia-Wilmar

    One of the solution for a great business plan is to register yourself or a company member/staff to a business plan training. Just like what our client Wilmar Nabati decide to join our training last week.

    The training was conducted on TransWISH Learning Center at Wisma Pede Suite B 304. Jl. MT Haryono Ka 17 Jakarta, 12810.

    By joining a business plan training we can try to vision the company’s business plan in simulation before practicing it in the real world.

    Well, the complete training title is Business Plan and Development Management Training.

    For two days, the participant trained to understand, make a plan, develop the plan with simulations led by Mr. Fachrie Firdaus; One of TransWISH’s Senior Trainer.

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    On the last day, participants declare to be happy and satisfied with the training.

     

    We’ll see you again in another training !!

     

     

    Sources

    http://www.dummies.com/business/start-a-business/business-plans/why-is-a-business-plan-important/