Date Added: Jan 2010
Entrepreneurs often consider a business plan to be an afterthought. After days, months, or years of running through an idea in their head and talking about it to friends and partners, they may feel ready to hit the ground running as soon as they land a check from an investor or bank. For these individuals, the process of writing a long, detailed business plan to document what they feel they know intuitively can seem a huge chore. However, the process of an entrepreneur writing out the business plan can be an opportunity to double-check if the idea will stand up to greater scrutiny, better develop the idea, and gain valuable insight into the industry and competitors.