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