Why do we need a business plan?

Some entrepreneurs think a business plan is only used to get financing. but In reality, there are many more uses for a business plan.

  •        Why do we need a business plan?
  •        How to plan is our road-map ?
  •         How to plan is necessary for investors/lenders:
  •         How can help you track progress:
  •         Identify the feasibility of our business idea:

Do we really know what it means to be an entrepreneur? Here are some common myths about business ownership.

  • Myth: As an entrepreneur, you won’t have to work so hard or put in such long hours.
  • Reality: On average, entrepreneurs work far longer hours than employees do—but you’ll likely enjoy it more because you’re building something of your own.
  • Myth: My product/service is unique and there is no competition.
  • Reality: There is always competition. It may be in a different form or delivered in a different manner, but it exists and you need to recognize and deal with it.
  • Myth: Business owners can deduct everything, so you won’t have to pay taxes.
  • Reality: Entrepreneurs do get to subtract business expenses from their gross income— but they still have to pay taxes on their net income.
  • Myth: As a business owner, you won’t have a boss.
  • Reality: You don’t have a boss—you have many: Your clients and customers.
  • Myth: Business owners get to do what they want to do.
  • Reality: Sure, you’ll do some of what you enjoy—but some of your time will be spent on tasks you find difficult or boring