Importance of Business and Farming Plans?

March 24, 2021 Hansie Britz

                    

Preparing a business or farming/Agriculture plan is an organized, logical way to look at all of the important aspects of a business. First, decide what you will use the plan for such as:

* Support a loan application to require funding.

* Define a new business.

* Define and fix objectives, and programs to achieve those objectives.

* Provide important information of your business venture or farming operation.

* Set a value on a business or farming operation for sale or legal purposes.

* Evaluate a new product line, promotion, or expansion.

* Create regular business review and course correction.

NO TIME TO PLAN? A MISCONCEPTION

“Not enough time for a plan,” business people and farmers say. “i can’t plan. I’m too busy getting things done”. Too many businesses and farming operations make plans only when they have to. Unless a bank or investors want to look at a business/farming plan,there isn’t likely to be a plan written. The busier you are, the more you need a plan. If you are always putting out fires, you should build fire breaks or a sprinkler system.

Business and farming/agric business plans are designed to describe the process of building and sustaining a profitable business or farming operation based on the product or service you have conceived. The plan will be of value at all stages of your business or farming operation.

You can also make use of a professional consultant that can share his/her knowledge and expertise with you. In a sense consultants teach you what they have taken years to learn.

Online consulting services are also available on ZOOM, SKYPE, GOOGLE MEET OR FACETIME – just contact us on: money@global.co.za for details.