Do I need to write a business plan?
Yes! Once you have an idea for starting a business that you want to pursue, writing a business plan should be one of the first things you do. People think of writing a business plan as something that’s only necessary if you’re trying to get a business loan or persuade investors that your business is worth their money, but actually, writing a business plan is necessary no matter how you intend to finance your new business. The main purpose of writing a business plan when you’re starting a business is to test the viability of your business idea. Writing a business plan will tell you if the business you’re thinking of starting has a chance of becoming a successful business. Writing a business plan when you start a business forces you to do the research and get the information that you’ll need to turn your idea into a successful venture.
