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- Ma’am, the suppliers are demanding a second down payment. Production for the 2nd batch of products will not commence until we pay them the full amount.
- EMERGENCY!
- It seems like we went overboard with our resources. Our budget has been overstretched and we don’t know how to resolve it.
- Cutting costs? What about the employees? We are already so few and they’re demanding us to pay them, it’s been 2 months of delayed salaries!
- EMERGENCY!
- I'm sorry, but I have no choice. We have to do employee lay-offs to save the company.
- That's just unfair, Ms. Shon. Laying us off without notice would just make us all quit!
- I can't believe it. This is why you should've planned from the beginning, so that the employees and the investors don't have to suffer.
- I'm really sorry. You can tell the other to prepare for it tomorrow.
- I know! And you know the reason why? They said I needed a plan! But I think it would've worked without one, it was perfect until we ran out of budget..
- Sarah, my business has failed! All our investors had withdrawn, my employees left, and I'm left with dozens of useless cosmetic products!
- Job Opening!We need 10 workers ASAP. No diploma needed.
- Job Opening!We need 10 workers ASAP. No diploma needed.
- Oh dear, you've gone through so much.
- Job Opening!We need 10 workers ASAP. No diploma needed.
- But having a plan is important, Wendy. You should've listened to me from the beginning. Failing to plan is like planning to fail!
- Sarah.. I don't know anymore. I've gone bankrupt. My business has died. I don't know why I did this..
- The business plan is a crucial part of establishing a business, especially for entrepreneurs like you. It helps in all areas, most importantly to set up goals and objectives for your business.
- You see, Wendy, when you're starting a business, you shouldn't just do it out of passion. You also need to be logical and analytical.
- It can also determine the cost and profit you will get from your business. You had problems with budget, right? With a business plan, it can define financial costs early and its possible complications. It can also determine the profit you can get, too!
- If you don't have a business plan, your business is bound to fail. It gives you guidance or outline for the business's goals, products, location, and employees.
- As mentioned earlier, the business plan helps you and your employees to set proper goals. That way, it can set expectations to be accomplished.
- As I said, as an entrepreneur, you need to be analytical. This means that you need to do extensive research . Even if it's the industry you're very passionate in, it will not suffice.
- You're welcome, Wendy. I'm rooting for you and you business. Don't give up!
- Thank you so much, Sarah. When I can get myself up again, I'll keep your tips in mind. I would definitely make a business plan first before doing any decision.
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