5 Myths of a Business Plan You Shouldn't Believe

For many years companies have been designing business plans to have clear objectives to follow when executing their operations, to be able to show them to their employees so that they understand well where the company wants to go and even show these plans to investors when they are invited to put capital in the company or before banking institutions when credit is requested; There are many myths about creating these plans and we will see them below:

You don't need a business plan

This is obviously the craziest and most illogical thing we can find on the subject, we are talking about that whoever thinks this, also thinks that you can get on a boat to go to Australia and without the need for a map to to get. It is more than known, a company works better with goals specific, which are reflected precisely in the business plan and its derivatives, such as the marketing plan.

Investors won't read your plan

This is one of the myths that has surely been created to harm entrepreneurs who are looking to increase their operations, because whoever told you this has basically told you that

you write your business plan wrong or at least you don't pay extreme care to details, because investors won't read it; if you do, you make a poorly written and messy plan that no one will understand and when an investor reads it, it certainly won't to want to invest in your company, because they will think that if you do not know how to organize a text, you will not handle its investment.

It is really important to have a well-written business plan; in fact we give you some advice and that is write to perfection the executive SummaryIf you get their attention, they will read the rest of the plan.

The business plan is to get money

Another serious mistake that many entrepreneurs make as they make a business plan only when they are going to ask for financing, either to investors or banking institutions; This obviously means that the company does not walk as it should, because if the creation of business plans becomes an activity systematic and not just one to attract investment, surely your finances would be better and less in need of investment and credit.

The business plan should be short

This is another mistake that is made thinking of the investors' reading only; Although it is true that 50 pages are not ideal for writing a business plan, you will not be able to make yourself understood with two pages, neither to investors nor to employees, so leave to think that everything is for investors and that they can get bored of reading, if you have a good plan, no matter how long it is, they will read it and much more if it is an investor is wise and professional; on the other hand you have to make sure that your team knows how to work, so it should be explicit.

You only need to create a business plan once

Another error that is quite common, because it does not analyze in the least that the market is constantly changingTherefore, the ways of dealing with it and making their way into it must also be changed; In addition to this, goals are written and the whole life is not the time to achieve them, that produces stagnation.

Put these myths aside and you will see that you will write a great business plan.