People start and operate businesses for many reasons. Regardless of why you are interested in starting and operating your own business, you want to be successful. One of the reasons for business failure is the lack of business planning. Small business owners sometimes do not perform detailed evaluation of a business opportunity and do not understand whether there’s a market for what they are developing. As a result, wrong decisions to invest money into new business ideas are made. The act of incorporating a business is not particularly challenging. However, planning for and developing a profitable business is a complex and ongoing activity. Adequate business planning, attention to details, and realistic expectations are critical to your success.
There are many business ideas and most people can develop creative concepts for new business. However, many business ideas are not realised because people do not act on new ideas or because ideas do not provide sufficient market opportunity. Additionally, why should people invest a lot of creative energy into generating many business ideas if they do not have sufficient resources or time to assess them. Planning4business has developed an Idea Evaluator tool that combines principles from several business assessment methodologies and provides you with an objective and affordable evaluation report in just 10 business days. Sample Business Idea Evaluator Report
Writing a business plan helps you:
- Address a number of questions concerning your business and help validate your business concept
- Approach planning of your business in a systematic way
- Secure small business funding
- Benchmark to measure your planned objectives against the actual performance
Several studies have suggested that three out of five small businesses fail within the first year. One of the reasons for business failure is insufficient financial planning. Be prepared with a financial plan which is a powerful tool for communicating your business objectives to a lender or an investor.
Planning4business performs both primary and secondary market research helping you, as the business owner, determine if your venture provides an attractive opportunity for growth. As part of the market research we assess various aspects including market size, customers, pricing, competition and promotion
We recognise that many small businesses have limited resources to undertake business planning activities in house. So, we provide hands on business planning services to help meet your commercial objectives and address issues that you may encounter in operating your company. Planning4business develops various business reports with data, charts and graphs that help bringing profitability to small businesses and assists entrepreneurs in due diligence activities for their startups.