By Djay Rijneveld at April 28 2019 19:07:44
Make Selling Out a Breeze _ Many caterers end up selling their businesses if they retire or move on to other projects. A business plan that is up to date can really help when it comes to valuing your business for a potential sale. If your business offers a buyer a blueprint for managing the business and it offers solid proof that the business is making a profit then it could really help you to seal a deal at a favorable price.
When you're writing a business plan in a situation like these, you need to address a few issues the intentional entrepreneur has already pondered. The first is do you really want this idea to become a full_blown business? Certainly it's flattering when you realize there's a market value for something you were doing anyway, but that doesn't always mean you should launch a business. A lot of accidental businesses form around fads or seasonal items, and may not be robust enough to function as year_round, money_making, enterprises.
Be Prepared For Risks _ It is a fact of life that any new business or enterprise has a degree of risk attached to it. Therefore it is important for your business plan to analyse and calculate that risk, showing how you will engage with it. There is no business plan out there that is risk_free, but very often where the risk is higher then the rewards will be as well.
Sometimes no matter how much you research, plan, or test, things don't go as expected in a business. This isn't necessarily a herald of failure or a sign that you're not cut out for entrepreneurship. Life and the marketplace are both unpredictable, and plans need to be fluid and responsive. The "One Pressing Issue Plan" is simply a reflection of a normal evaluation process.