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In my opinion, Ahmed should write a new business plane with his perception because he may have different business objectives from previous plane which is already running. He is performing as an entrepreneur Ahmed has to develop new strategy about credit polices, specifying the sources of finance, customer relationship management, inventory management.

 

The written business plan can be very helpful for ahmed because:

 

1. It gives the guidance in planning activity
2. It serves an important tool to obtaining finance
3. It also provides him a self assessment.

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in my opinion he should write the business plan

I. Why Write a Business Plan?

Why should a business go through the trouble of constructing a business plan? There are five major reasons:

1. The process of putting a business plan together forces the person preparing the plan to look at the business in an objective and critical manner.

2. It helps to focus ideas and serves as a feasibility study of the business's chances for success and growth.

3. The finished report serves as an operational tool to define the company's present status and future possibilities.

4. It can help you manage the business and prepare you for success.

5. It is a strong communication tool for your business. It defines your purpose, your competition, your management and personnel. The process of constructing a business plan can be a strong reality check.

6. The finished business plan provides the basis for your financing proposal.

Planning is very important if a business is to survive. By taking an objective look at your business you can identify areas of weakness and strength. You will realize needs that may have been overlooked, spot problems and nip them before they escalate, and establish plans to meet your business goals.

The business plan is only useful if you use it. Ninety percent of new businesses fail in the first two years. Failure is often attributed to a lack of planning. To enhance your success, use your plan! A comprehensive, well constructed business plan can prevent a business from a downward spiral.

Finally, your business plan provides the information needed to communicate with others. This is especially true if you are seeking financing. A thorough business plan will have the information to serve as a financial proposal and should be accepted by most lenders.

If you have decided to start your own business, one of the first things that you need to do is to work on a business plan. A business plan is so important because it actually serves as a compass for the direction your business will take in the future. Having a plan will also help you achieve the things you want to achieve and will help your business to find success as well.

Consider the Details

One of the reasons that having a business plan is essential is that it will help you to consider the details of your business and its' future. As you are working on your plan, you will probably find that there are many aspects of your new business that you have not considered. Getting started with a business plan will help you to save money and time since you will be able to deal with issues before they become a problem.

Helps You Get Funding

Another great reason for having a business plan is that it can help you if you are trying to get outside funds for your business. Most lenders and investors want to see that you have a clear business plan before they take a risk on your business. Having a plan already drawn up shows them that you are serious about being successful at your business. If you are going to show your business plan to potential lenders and investors, make sure that the figures you use are accurate so your plan is credible.

Management Tool

Starting a business is a huge job and it is helpful if you have something that can help you manage the business. A business plan can act as a management tool that can help you focus on where you are and where you want to be in the future. This will help you to keep your daily tasks well managed and will also help you to accomplish long term goals as well.

If you decide to go without a business plan, chances are that your business is going to end in disaster. You can use a business plan throughout all stages of your business to guide your business towards success. While it may take some time and energy to get a business plan together, in the end it will be well worth taking the time to get it done right