Business Plan Writing: Where Companies Go Wrong
By Ato Asefoah Dadzie
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There’s something oddly symbolic about the blank page. It carries all the hope, the ambition, and, frankly, the anxiety of starting or expanding a business. For many entrepreneurs and operational leads, writing a business plan feels like the official beginning. But here’s the uncomfortable truth: most business plans don’t live up to their purpose.
At JOBEX COMPANY LTD in Ghana, we’ve had the opportunity to write, review, and advise on dozens of business plans across industries—mining services, logistics, hospitality, and procurement, just to name a few. And over time, a few recurring mistakes keep popping up. Subtle, avoidable, and often fatal.
So let’s talk about where people usually go wrong.
First—confusing ambition with clarity. A business plan isn’t meant to impress with grandiose vision alone. Saying you’ll “revolutionize logistics across West Africa” sounds bold, sure—but without a clear explanation of how, it’s empty. The best business plans are specific. They explain who the customer is, what problem you’re solving, how you’ll do it, and how you’ll make money. No jargon. No fluff.
Another common misstep? Overestimating the market. I’ve seen plans that claim, “If we capture just 1% of a billion-dollar market…” and then skip the part about what it takes to actually capture that 1%. Realistic market sizing, based on reachable customers, is more valuable than inflated projections. If your plan can’t show how you’ll get your first 50 customers, your 50,000-customer forecast doesn’t matter.
Next—financials. This is where plans often fall apart. Either the numbers are missing, vague, or overly optimistic. We once reviewed a plan that projected 80% profit margins on a capital-intensive service—without accounting for fuel, staff costs, or breakdowns. That’s not ambition. That’s oversight. A sound business plan includes conservative financial estimates, a clear funding requirement, and a roadmap for sustainability. Investors can smell unrealistic numbers from a mile away.
Let’s also talk about tone. Too often, plans are written either too casually—like a personal blog—or too academically, packed with theoretical frameworks that don’t connect with operations. The sweet spot is professional but human. Write like you're explaining your idea to someone smart, but not in your industry. That’s what makes it relatable and real.
From our side at JOBEX COMPANY LTD, whenever we’re entering a new project stream—say, expanding vehicle rentals or scaling up camp hospitality—we revisit our internal business plan. Not because we don’t know our business, but because the process forces us to re-evaluate assumptions. It’s not about the document—it’s about the thinking it demands.
In fact, that thinking, that discipline, is part of what’s helped us secure large projects, build reliable partnerships, and earn the trust of industry leaders. It’s also, I believe, one of the reasons we’ve been nominated for the 2025 Go Global Awards in London this November, hosted by the International Trade Council. The event brings together business minds from across the globe—people who don’t just write plans but execute them in challenging environments. We’re proud to be counted among them.
So—what makes a good business plan? Simplicity, honesty, strategy, and structure. Know your numbers. Know your customer. Know your own blind spots.
And if I had to offer one final tip? Don’t aim to impress. Aim to clarify. Because when your plan is clear, your direction becomes unstoppable.
