Date Added: Jan 2010
Having a business plan is extremely important for many reasons. The plan itself keeps the goals and intentions of the business intact. It keeps things organized and makes it easier to work through potential problems that could arise. When the business is down on paper, it should become a working model that can be tested with hypothetical situations and actual numbers from market analysis. It should give a sense of how well the business will do in its first few years and give a glimpse of its possibilities in the long term. Making a business plan is time consuming and is tempting to skip out on. Do not do this to yourself.