Summary
A business plan is far from a meaningless or strictly theoretical exercise. It’s not about getting a written document (although having a written plan can be helpful for communicating your vision and getting funding)–it’s about the process of thinking through your choices and checking your assumptions, all before they check your progress when it’s too late.
30-minute Outline is Better than No Plan
Starting a business is exciting but costly. You can save yourself time and money by developing a business plan. Many entrepreneurs skip the planning process. They think they can avoid tough early decisions and figure things out as they go. However, without a clear roadmap, failure is likely to occur. A quick, seven-step formula can save your startup from early mistakes and ensure success.
A little back-of-the-envelope arithmetic now might save your company from screwing up big time later.
Plan on Paper, Win in Practice
Planning isn’t just paperwork—it’s about testing assumptions. For new or growing businesses, this process clarifies decisions before costly mistakes.
Read the Article on Fast Company online!
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