1. 7 Reasons You Need
A Business Plan

2. Looking to grow your business?
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3. 7 ReasonsYou Need A Business Plan
from bigredtomatocompany.com
A Business Plan Gives You…

4. 1. Clarity In Your Thinking
Writing a business plan allows you to think more clearly about what you’re trying to do and what
you’re hoping to achieve. Which in turn will make it easier to explain your idea to others.
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5. 2. Gaining a Deep Understanding
of Your Target Market
Taking the time out to research your business plan idea will give you a deep insight and
understanding of the industry or market you’re looking to enter way before you actually commit to
entering it.
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6. 3. Puts The Right Things In The Right
Place
A business plan pulls together all the relevant bits of information in one place such as revenue
targets, expense projections, the goals for your business and the route map to get you there.
Making it easier to keep track of your progress as well as keeping you focused on the long term
plans for your business, all in one piece.
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7. 4. Testing out Your idea
When you document your ideas and create your financial model, you’ll discover whether it really is
possible to hit the revenue and profit targets – without risk to you.
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8. 5. Aligning Goals
Writing a business plan is a great way to make sure that everyone is on the same page with the
current and future plans for the business. If you’re part of a team rather than flying solo, it’s
imperative that all of the team are all on the same page and agree how they’ll work together on
moving the business forward. If you can’t agree on the where you’re heading then you will probably
find you won’t get where you wanted to go.
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9. 6. Holds you to account
A business plan allows you to articulate your vision for your business as well as your plans to get
you there. Going through the actual process of typing the words under each heading in your business
plan forces you to think about creating a long term strategy for the business. Once you have
answered all the questions in the business plan and laid out your timescales, it provides a simple way
to track your progress and hold yourself accountable.
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10. 7. Refining your message
A business plan is a good way to describe what you do and more importantly what you do not. The
very process will force you to understand who your competitors are and describe your strategy for
achieving your goals. This very process will help you communicate your message to investors,
employees and customers in a much more structured and effective way.
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11. Read The Full article at:
http://bigredtomatocompany.co.uk/posts/7-reasons-you-
need-a-business-plan/
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