WHY IS IT SO MANY COMPANIES ARE WITHOUT A FORMAL BUSINESS PLAN?
So many of the companies I’ve taken on don’t have an ongoing business plan. They may have had one once, possibly when they took on external investors or other refinancing, but have since drifted away from having a proper plan that sets out exactly how the business will be taken forward. It amazes me that external investors such as private equity firms allow this situation. What I can tell you is that every single troubled company I have taken on has been without a current business plan.