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Why Prepare a Business Plan

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 dmca Why Prepare a Business Plan        Why prepare a Business Plan?

                    100 Businesses fail every working day

Industry figures reveal that approximately 100 Businesses will fail every workday or almost 75% of all new firms within the first 5 years of operation.

Many businesses can avoid failure by preparing a Business Plan.

Imagine a swimmer training for the Olympics. The swimmer looks at the world's fastest 400m freestyle tim Close es and realises that on his current performance levels he is about 20 seconds too slow to win a gold medal. Some swimmers may get disillusioned and think to themselves "how can I make up 20 seconds, kasyno internetowe it is an impossible task?"

The good swimmers take a different approach. A good swimmer will say, "in 4 years time I want to swim at least 25 seconds faster. This will be chievable because over the next 4 years I have 1408 training sessions, therefore my goal will be to swim .02 of a second faster in every training ession". The possibility of winning a Gold Medal has now been put in realistic and achievable terms for the swimmer. Performance can be both easured and monitored (in this case by the coach) to ensure that goals are being met.

In terms of a business, a Business Plan does exactly that. The business Plan sets performance levels and goals at achievable levels, which can be monitored on a regular basis. At the same time, it identifies possible threats and opportunities for which organisations should be aware.... avoiding the "Management by crisis" syndrome.

More about dmca Accountants

www.dmca.com.au
75 Belair Road, Kingswood, SA, 5062
Phone (08) 8272 5620 Fax (08) 8172 2270

www.dmca.com.au

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