Are You Driving Your Business Without a Helmet?

Business Safety

Not having a business plan, proper marketing strategy, and not conducting regular market research is akin to driving without a helmet—you are extremely vulnerable to any kind of fatality in case of any accidents; in this case, you are exposed to a lot of risks which otherwise, can be easily prevented.

Are You Driving Your Business Without a Helmet?

As everyone knows, you should wear a helmet while riding motorcycles. The same concept applies to business. Replace the word “helmet” with a business plan, contingency plan marketing strategy, capital, and market research. Now read the same sentence again.

Are you driving your business without a business plan?

Are you driving your business without a contingency plan?

Are you driving your business without a proper marketing strategy?

Are you starting your business without sufficient capital?

Are you driving your business without conducting proper market research?

Now you get the point. Here is why “driving” your business without a “helmet” is dangerous.

Having a Business Plan is Important for Long-Term Success

A business plan is an important part of starting a new business. The fact of the matter is that business plans can take up a chunk of your time. It requires research and getting your data right. While writing a business plan, you will likely come across a facet of your business that needs in-depth research. 

However, not every business person is sold on the usefulness of a business plan. Experts also argue that taking the time required to write a formal business plan leads to the startup process being delayed that cost valuable prospects for a small business. Studies have even found that there is no effect on the success rate. On the other hand, leading experts argue that entrepreneurs who take the time to write formal business plans are more likely to achieve success.

The point here is, the success rate doesn’t depend on your ability to write a business plan, it depends on your ability to drive business. Having said that, the process of writing a business plan helps you to straighten out your ideas; the research involved in the process helps you establish facts and figures and come up with something that is viable rather than a fantasy.

For more information click here