I only want to start a modest little business with a very simple operating procedure. Can I get by without writing a business plan?
We at the Enterprise Center say: No matter how simple your business, you need to start with a business plan. Most people make the mistake of thinking of a business plan as a roadmap for attempting to make a profit. This is the secondary purpose of a business plan. The primary purpose is to help you make the decision: should I even go into business? Unless you have written out a plan that 1) sets forth the resources you need to open, 2) lays out a marketing strategy for your goods and services in a competitive marketplace, 3) includes the projections of income and cash flow, and 4) addresses the contingency plans if things dont go as planned, you really have no idea whether you have a chance of succeeding in your enterprise. You certainly dont need a business plan if two conditions apply: 1) you have an unlimited amount of money to waste, and 2) you have an unlimited amount of time to waste. Everyone who is not fortunate in having unlimited time and unlimited money needs a plan in order
