This is a misconception of many entrepreneurs that may be business
planning is just confined to a fund-raising tool whereas the perks of business
planning are mighty.
Who
needs business planning:
• The ones who are eager to develop an understanding for
their business as how it is put together.
• It is needed for those who want to determine the destiny of their business
because business planning in this context performs the task of monitoring
progress.
• It is needed for courting future investors because in this connection a
business planning in is used as a sales and recruiting tool.
In
business planning you will be able to examine the following
• your value proposition
• Staffing
• Marketing assumptions
• Planning about operations
• Financial plan
A business planning makes you learn the tactics of business dealing and
provides you the awareness to think and answer the “Whys” and “hows” of
business matters.
So business planning is a complete learning which makes you predict your future
and equip you with the best ways and strategies to approach your objectives and
targets.