Once you decides to make the commitment to start up a business of your choice and of any kind, the next thing in mind is to plan and draft out a business plan of whatever you intend doing. Lack of proper planning and implementation is one of the most reasons why some business fail.
As it's said, failure to plan is planning to fail.Having a well documented and strategic business plan that defines and focuses on your business ideas should be the first aim of any organization, company or entrepreneur because that is one of the most important documents that directs and leads the business in implementing the strategic plan to make your business idea work, it also speaks and represents the business.
There are benefits of having a well documented and strategic business plan as an entrepreneur which i mentioned a few earlier. Business plans are mostly written to obtain additional funds whether to raise money for business by securing investors or capitals from financial institutions.
Having a plan helps you recognise some pitfalls or mistakes in your business which calls for amendments.
It's also a way of convincing yourself and other people how serious and determined you're with to take off with this business.
Honestly, creating a business plan involves a lot of thought and time to put things together. Some many things are considered like what you actually wants to do,what you want to accomplish and your aim or goals of achieving this depending on the kind of business you're venturing into.
There should be short term and long term goals for a start tho the plan can be amended with time.
I first wrote my business plan early this year when I participated in one online giveaway(360mobile.com) on Instagram that I was scammed because it was one of the requirements needed that was why I wrote my business plan. I have a blog already before then, but I didn't see it of any importance to have a business plan till that giveaway tho my financial plan wasn't really detailed in the plan because it was based on the giveaway.
Below is the PDF file of my business plan.
Finally, am only advising business owners and up coming entrepreneurs to have a business plan because it helps especially for beginners in directing and focusing on their ideas which can later be adjusted with time in the plan for improvement and a better results.