Zeifmans’ Technology & StartUps team share the importance of implementing a business plan

Posted -

Are you launching a new startup? Expanding an existing business? If so, implementing a business plan is an important step to help direct your decisions today and for the future. A common mistake new business owners experience is establishing a business plan that includes unreasonable expectations with the belief that investors are solely focused on exponential growth, or worse, not developing a business plan at all. Your business needs a roadmap to help evaluate where your business is today and where it will be tomorrow.

Commonly referenced studies, surveys and opinions suggest that formal planning doubles a startup business’ odds of survival or that those existing businesses that operate with formal plans, on average, grow 30 per cent faster than those that do not have formal plans.[1] So then, why wouldn’t you put a plan in place?

Today, Zeifmans’ Technology & StartUps team share the importance of having and implementing a business plan, as well as, strategies and concerns business owners need to be aware of when developing and executing said plan, to ensure the success of your startup.

Thinking about developing a business plan but don’t know how to start? Overwhelmed and don’t have the time? We’re here to help. As a key member of your team, we want to see your business thrive at every stage of growth. We will work with you 1:1 to develop a tailored business plan, giving advice to overcome any challenge you face and sticking with you to whatever transition comes next for your startup.

To learn more pointers on how to effectively build a business plan, company structure and growth, contact one of our experts today.

Suggested supplemental insights:

Foundational elements of a successful business acquisition

How Zeifmans Accelerates Technology and StartUps Success

[1] Jon Umstead, “Why would you not have a business plan?” https://www.theglobeandmail.com/report-on-business/careers/leadership-lab/why-would-you-not-have-a-business-plan/article29938400/