Must every business have a long term plan?

[King Belieal]

A business should practically aim to stabilize and stay sustainable for a long time. That means a business should have a long term plan. Is it possible for a business to keep running without a concrete long term plan? What are the implications of a business not having long term plans?

 

[Min George]

There are businesses that are just meant for immediate survival and there is no long term plan for it.

 

[eLdavis]

I think it mainly depends on the purpose of the business. If you plan on doing the business for long, then you should have a long term plan.

 

[Trush Jodie]

There are businesses that people don't have plans to keep doing in the future. They don't have long term plans for the business.

 

[Bigshow]

Business is determined by the brand and loyalty and also consistency to your customers you will find that most people dont really have a long term business on their minds

 

[Starmix]

It depends on the decision and capital of the investor. A long - term is mostly a favorable option of many investors. It's believed and proven that a long - term investment guarantees a huge return.

 

[Augusta]

Yes it should have because the business is looking to stand the test of time it should be in the long run

 

[Fidelia]

Ideally, every business should have a long term plan. But realistically, it is not every business that actually has plan beyond the present.

 

[kit_hung]

Business is determined by the brand and loyalty and also consistency to your customers you will find that most people dont really have a long term business on their minds

You have touched on a very fundamental point there. A business cannot stand strong without a strong brand and loyal customers. If you build trust with your customers by consistently providing them with excellent service, they will come back again and again. That is what builds the foundation of a long-term business. Without consistency and creativity, even a good idea can fade away.

Many people go into business without a long-term plan. They look for quick profits without considering sustainability. But the truth is that true success comes with patience, learning every day and building lasting relationships with customers. If you focus on your brand and are honest with your customers, your business will grow slowly but surely.

 

[Kross]

Any business that is built on quick profits is likely to crash even before the owner is able to get the quick profits.

 

[kit_hung]

Any business that is built on quick profits is likely to crash even before the owner is able to get the quick profits.

It's true bro, a business that is rushed and without foundation usually burns itself out early. If you enter the game just wanting quick money without a plan or vision, you will find yourself in trouble before you even start enjoying the fruits. This is not a sprint, it's a marathon, you must be patient and build slowly.

But it's also not wrong to seek profit, but it must have a strategy. Build your brand, know your market and don't rush for shortcuts. A real business is built with consistency and the hustle of truth. If you put your soul and mind, you will break through without falling apart.

 

[Augusta]

A Clear Business Plan is Essential: A well-structured business plan refines your vision, identifies potential issues early, and keeps you on track for long-term success.

 

[Stardom22]

Each and every entrepreneur goes into businesses with different goals and ambitions. So it's definitely dependent to the owners purpose of the businesses for sure.

 

[Nomad]

Actually, not all businesses need a long term plan, especially the businesses that you intend to run for a short time

 

[Starmix]

It depends on a circumstance; there are business owners despite hoping to have a long-term business, but decided to migrate abroad, so they make it short instead.

 

[Augusta]

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