Business plans are the cornerstone of all business launch efforts – documenting everything from the nature of the business idea to its planned products and services, potential market and customers, distribution, financing, and so on. Launching a business without first thinking through all these things can be fatal. In fact, it is said that the reason most startups fail is precisely due to poor planning.
Do You Have a Business Plan?
If you’re looking to launch, and you haven’t written or reviewed your business plan yet, now is the time to reconsider. Take some time to think through and verify all possible aspects of your business idea. Everything from idea to operations must be properly researched, and feasible, lest you become a part of the 80% startup failure rate in Nigeria.