You have this great business idea and you want to go for it and make your dreams a reality. You have been told by friends and family, financial institutions or government programmes that you should have a business plan. But what really is a business plan used for and how should one write a business plan. According to Investopedia, a business plan is a written document that describes in detail how a business defines its objectives and how it is to go about achieving its goals.
Unfortunately, Covid 19 is not the last crisis that businesses will have to face. Crises are becoming just one of the many factors that business will have to manage. Just think of the extreme weather events that have impacted businesses throughout the world. This emphasizes the need for a business to have a plan B, plan C etc. ready to go when a crisis hits. In my last blog, I indicated that I would give you some ideas as to how you could identify alternate and future directi