Rachael
Verified member
The covid-19 pandemic was a real shocker to the whole world and practically everyone was affected notwithstanding the level of wealth one had. Up till this moment, the effect of the covid-19 pandemic is still being felt and some people are still in the process of recuperating. The pandemic created a stench which affected most business owners and to be pragmatic this was majorly because they had a faulty business plan. In a business plan that is well structured, it is important to always include and foresee potential risks and proffer solutions even before it happens. Some business are literally ignorant and they thing that if they put a risk feasibility in the business, that it means they do not plan well or perhaps they are pessimistic about the business but this is a negative misconception.
A good business plan must always contain and foresee future challenges, offer solutions and have a crisis management technique which can also be called a plan B or a backup plan. Most business owners were thrown into confusion because they had ignored a very vital part of a business plan, thinking that the progress of business is only determined by capital or location. This was a great lesson and also an eye-opener as many business owners started creating an online presence for their venture.
A good business plan must always contain and foresee future challenges, offer solutions and have a crisis management technique which can also be called a plan B or a backup plan. Most business owners were thrown into confusion because they had ignored a very vital part of a business plan, thinking that the progress of business is only determined by capital or location. This was a great lesson and also an eye-opener as many business owners started creating an online presence for their venture.