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Why Write a Business Plan?
S
o you’ve got a brilliant idea for a new prod-
uct or service. You feel energized, inspired,
and ready to forge ahead. Your fi rst challenge:
Write a business plan.
You may be thinking: “Why should I bother taking
the time to draft a formal plan? Shouldn’t I just get
going already?” If you’re working at a large company
and your boss asks you to put together a plan before
you move forward with a new product extension, you
may feel equally frustrated. “What’s the point of this
busywork?,” you might think. “Why can’t I just take
the plunge?”
Don’t fall into this trap. Writing a business plan for
internal or external ventures ...