7 Reasons To Write A Business Plan

As a follow up on ouor previous post on why have a business plan here are 7 more reasons to incorporate a plan into your home business!

7 More Reasons To Write A Business Plan

There really are unlimited reasons why every business should have a business plan!

A business plan will:

1. Provide a formal estimate of expenses: Profit is key and expenses determine profit.
2. Will help you select the right product line or company if you have not done so yet.
3. Defines your market and your potential customers.
4. Provide a reasonable estimate of your revenues.
5. Assist to define your competition so that you are more competitive.
6. Allow you to predict potential problems and design a strategy to avoid or solve them.
7. Gives you a path to follow all year!

Having a home business is a great way to make a living.

You can work from home, sell products at parties, work your own hours, and call your own shots.

A written business plan is one of the most important steps you can take to ensure long-term success and profitability. Without one, your business is like a boat lost at sea without a compass, a chart or a radio.

A business plan that lays out actions, goals and marketing strategy that are specific to a direct sales business is essential.

Including things in your business plan like recruiting, bookings, family support and other unique home based business scenarios makes your business plan more effective!