Starting a Business All-in-One For Dummies, 4th Edition

Chapter 1

Writing a Business Plan

IN THIS CHAPTER

Seeing the importance of a business plan

Getting your planning resources together

Checking out what the written plan looks like

Planning is serious business. For many companies, a solid business plan is the difference between success and failure. Many people going into business for the first time want to rush right in, create a website or hang up a sign, and start making money — a natural response for anyone excited about a new business idea. But taking time up front to prepare can pay off in many ways down the line, especially when it comes to writing a business plan. And face it: After your company is up and running, you may not have all the time you need to devote to the major pieces of your plan. So, first lesson learned: A business plan is not an expense of either time or money; it’s a necessary investment for a profitable future!

But all that being said, we also want to make something else abundantly clear to you: We live in volatile times! In fact, it’s hard to find anything in the recent past of business and economic life that hasn’t been as disruptive as the present — a revolution in communications technology, globalization, ...